1809 17Th StNational City, CA 91950

Property Details for 1809 17Th St

Year built

1973

Lot size

0.65 AC

Property size (Sq ft)

13,652 SF

Zone code

COMMERCIAL

Property type

Apartment buildings

APN

561-140-41-00

APU

5611404100

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $3,548,482

  6.5%

  $3,275,522

  7%

  $3,041,556

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,424,711

  Geo Method

  $7,447,896

• Alternative Use

  Use

  Valuation

  Residential

  $3,275,522

  Hospitality

  $3,000,361

  Educational

  $2,496,265

  Medical

  $2,582,115

  Retail

  $3,883,079

Location Insight

City

National City

County

San Diego

State

California

Latitude

32.6735

Longitude

-117.085

CBSA code

41740

CBSA name

SAN DIEGO-CARLSBAD-SAN MARCOS, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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