5201 Naranja StSan Diego, CA 92114

Property Details for 5201 Naranja St

Year built

1948

Property size (Sq ft)

6,236 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 10-unit apartment building, located at 5201 Naranja Street in San Diego, CA 92114, presents a compelling value-add investment opportunity. The property boasts 6,236 square feet of net rentable space across ten individual, cottage-style buildings, each offering a unique single-family home feel. Built in 1948, this well-maintained complex sits on a spacious 16,561 square foot lot and currently enjoys 100% occupancy. Seven assigned parking spaces are available on-site, supplemented by ample street parking. Residents benefit from a shared laundry facility. The property's current Net Operating Income (NOI) is $116,386, yielding a 5.97% cap rate. However, a pro-forma NOI of $148,128 projects a 7.60% cap rate, highlighting significant upside potential. Each unit is priced at $195,000, with the entire property listed at $1,950,000 ($312.70 per square foot). Its convenient location in San Diego offers easy access to major freeways, making it highly attractive to tenants. This property represents a rare chance to acquire a well-positioned, income-generating asset in a highly sought-after San Diego neighborhood. The individual cottage-style units provide a unique and desirable living experience, contributing to strong tenant demand and rental income stability.

Location Insight

City

San Diego

County

San Diego

State

California

Latitude

32.7083

Longitude

-117.083

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