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853 S 32nd St 4 Unit Apartment Building $1,195,000 ($298,750/Unit) 4.26% Cap Rate San Diego, CA 92113
INVESTMENT HIGHLIGHTS
- 7,325 sq. ft CORNER LOT
- Within the Opportunity Zone & Transit Priority Area - SDPZ (San Diego Promise Zone)
- ADU Conversion Potential
- Significant Value Add
- Private Yards for All Units
EXECUTIVE SUMMARY
We're pleased to present 853 S 32nd St, located in the heart of Logan Heights the subject property consists of one - 2bed/1ba detached home, one - 2bed/1bath and two - 1bed/1bath units among two structures on a 7,325 sq. ft CORNER LOT. Tenants enjoy fenced Yards for ALL units with one single car garage. Rents are significantly below market providing substantial value-add, with conservative rent increases & minor cosmetic improvements this operates above a 6% CAP rate. Additionally; there is a detached garage that can be converted to an ADU for added income and additional value-add.
The property is well located and within a Opportunity Zone and Transit Priority Area providing significant tax/development benefits. It is within a 5 minute drive to
Downtown San Diego, Coronado, the new Gaylord Development in Chula Vista along with the San Diego Naval Base. Tenants enjoy close proximity to city transportation, trolleys and bus lines, freeway access, places of employment, schools, entertainment venues, restaurants and the property resides just south of the newly
redeveloped Rodriguez Elementary School.
This is a great investment opportunity for an existing investor looking to build their portfolio or a first time owner/user seeking their first addition.
The property is well located and within a Opportunity Zone and Transit Priority Area providing significant tax/development benefits. It is within a 5 minute drive to
Downtown San Diego, Coronado, the new Gaylord Development in Chula Vista along with the San Diego Naval Base. Tenants enjoy close proximity to city transportation, trolleys and bus lines, freeway access, places of employment, schools, entertainment venues, restaurants and the property resides just south of the newly
redeveloped Rodriguez Elementary School.
This is a great investment opportunity for an existing investor looking to build their portfolio or a first time owner/user seeking their first addition.
FINANCIAL SUMMARY (PRO FORMA - 2026) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $1,195,000 | Building Class | B |
| Price Per Unit | $298,750 | Lot Size | 0.16 AC |
| Sale Type | Investment | Building Size | 2,328 SF |
| Cap Rate | 4.26% | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1956 |
| Property Subtype | Apartment | Parking Ratio | 0.43/1,000 SF |
| Apartment Style | Garden | Opportunity Zone |
Yes
|
| Price | $1,195,000 |
| Price Per Unit | $298,750 |
| Sale Type | Investment |
| Cap Rate | 4.26% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 0.16 AC |
| Building Size | 2,328 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1956 |
| Parking Ratio | 0.43/1,000 SF |
| Opportunity Zone |
Yes |
AMENITIES
UNIT AMENITIES
- Dishwasher
- Storage Space
- Kitchen
- Refrigerator
- Oven
- Lawn
SITE AMENITIES
- Fenced Lot
- Picnic Area
- Private Bathroom
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | $1,375 | - |
| 2+1 | 2 | $1,750 | - |
1 1
Walk Score®
Very Walkable (78)
PROPERTY TAXES
| Parcel Number | 550-051-01 | Total Assessment | $913,189 (2025) |
| Land Assessment | $342,275 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $570,914 (2025) | Tax Year | 2026 |
PROPERTY TAXES
Parcel Number
550-051-01
Land Assessment
$342,275 (2025)
Improvements Assessment
$570,914 (2025)
Total Assessment
$913,189 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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853 S 32nd St
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