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All 3Bedroom/2Bathroom 1,130sf Units 8573-8579 Glenhaven St 4 Unit Apartment Building $2,195,000 ($548,750/Unit) 5.86% Cap Rate San Diego, CA 92123
Investment Highlights
- Prime Central San Diego Location (Serra Mesa)
- High In-Place CAP Rate: 5.86% + Low Price/SF: $485/SF
- Improvements Include: New Sewer Lines, Upgraded Plumbing, Upgraded Siding w/ Fresh Paint, New Landscaping, Storage Sheds + Interior Upgrades
- Strong Unit Mix: All 3Bedroom / 2Bathroom 1,130sf Units
- Tenant Amenities Include: Spacious Floorplans, Carport Parking, Private Yards / Patios, Storage Sheds, & Onsite Laundry
- Convenient Location Near Montgomery-Gibbs Airport, Taft Middle School, I-8, I-805, & CA-163
Executive Summary
Centrally located in one San Diego’s strongest rental markets (Serra Mesa), the Apartment Homes on Glenhaven present an investor with an amazing investment opportunity. The property and consists of four (4) 3Bedroom /2Bathroom 1,130sf units, and is situated on a 7,325sf parcel. Tenant Amenities include spacious floorplans, private yards / patios, carport parking, storage sheds, and an onsite laundry room.
With strong in-place rents, this asset offers high cash flow (5.86% CAP) at a low price per square foot ($485/sf). The property, which is near Montgomery-Gibbs Airport, Taft Middle School, I-8, I-805, & CA-163, is perfect for an owner occupant looking for income to offset their mortgage, or an investor looking for strong cash flow in a desirable rental market.
With strong in-place rents, this asset offers high cash flow (5.86% CAP) at a low price per square foot ($485/sf). The property, which is near Montgomery-Gibbs Airport, Taft Middle School, I-8, I-805, & CA-163, is perfect for an owner occupant looking for income to offset their mortgage, or an investor looking for strong cash flow in a desirable rental market.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$176,880
|
$39.15
|
| Other Income |
$1,440
|
$0.32
|
| Vacancy Loss |
$5,350
|
$1.18
|
| Effective Gross Income |
$172,970
|
$38.28
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$44,387
|
$9.82
|
| Net Operating Income |
$128,583
|
$28.46
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $176,880 |
| Annual Per SF | $39.15 |
| Other Income | |
|---|---|
| Annual | $1,440 |
| Annual Per SF | $0.32 |
| Vacancy Loss | |
|---|---|
| Annual | $5,350 |
| Annual Per SF | $1.18 |
| Effective Gross Income | |
|---|---|
| Annual | $172,970 |
| Annual Per SF | $38.28 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $44,387 |
| Annual Per SF | $9.82 |
| Net Operating Income | |
|---|---|
| Annual | $128,583 |
| Annual Per SF | $28.46 |
Property Facts
| Price | $2,195,000 | Apartment Style | Low-Rise |
| Price Per Unit | $548,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 5.86% | Building Size | 4,518 SF |
| Gross Rent Multiplier | 12.31 | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1959 |
| Property Subtype | Apartment | Parking Ratio | 0.89/1,000 SF |
| Zoning | RM-3-7, San Diego - Residential Multifamily | ||
| Price | $2,195,000 |
| Price Per Unit | $548,750 |
| Sale Type | Investment |
| Cap Rate | 5.86% |
| Gross Rent Multiplier | 12.31 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 4,518 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1959 |
| Parking Ratio | 0.89/1,000 SF |
| Zoning | RM-3-7, San Diego - Residential Multifamily |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 4 | $3,685 | 1,130 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 421-190-15 | Improvements Assessment | $283,972 |
| Land Assessment | $516,324 | Total Assessment | $800,296 |
Property Taxes
Parcel Number
421-190-15
Land Assessment
$516,324
Improvements Assessment
$283,972
Total Assessment
$800,296
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All 3Bedroom/2Bathroom 1,130sf Units | 8573-8579 Glenhaven St