For Sale
$5,600,000

1809 17Th StNational City, CA 91950

20-Unit Apartment Building, Value-Add Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 20-unit apartment building presents a compelling value-add investment opportunity in the desirable National City, California market. Located at 1809 E 17th St, 91950, this two-story, 1974-built property offers significant upside potential. Currently generating a Net Operating Income (NOI) of $176,232, resulting in a 3.15% capitalization rate, pro forma projections indicate a substantial increase to $379,281 NOI and a 6.77% cap rate. The property boasts a mix of one and two-bedroom units, each currently priced at $280,000. Situated just two miles from San Diego Bay and a block from the 805 freeway, this location offers convenient access to major transportation arteries and desirable amenities. The strong tenant base and high demand in the area contribute to the property's long-term stability and growth prospects. This is a rare chance to acquire a well-positioned multifamily asset with considerable potential for increased profitability through strategic improvements and property management enhancements. The asking price for this prime investment is $5,600,000. Don't miss this opportunity to capitalize on the thriving San Diego County real estate market.

Highlights

  • $5,600,000 asking price for a 20-unit apartment building in National City, CA.
  • Value-add opportunity with a 3.15% current cap rate and a pro-forma cap rate of 6.77%.
  • $176,232 current NOI and a pro-forma NOI of $379,281.
  • $280,000 per unit price.
  • High-demand location near San Diego Bay and the 805 freeway.

Property Details for 1809 17Th St

Property type
Apartment buildings
Year Built
1974
Stories
2
Units
20

Location Insight

City
National City
County
San Diego
State
California
Latitude
32.6736547
Longitude
-117.0855453
1809 17Th St, National City, California

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1809 17Th St
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