1707 Chalcedony StSan Diego, CA 92109

Property Details for 1707 Chalcedony St

Year built

1969

Lot size

0.30 AC

Property size (Sq ft)

11,170 SF

Zone code

COMMERCIAL

Property type

Apartment buildings

APN

416-431-23-00

APU

4164312300

Description

This exceptional investment opportunity presents a 16-unit apartment building located at 1707 Chalcedony St, San Diego, CA 92109. Boasting 11,170 square feet of net rentable space across two, two-story buildings on a 12,904 square foot lot, this property offers a compelling return. Built in 1969 with renovations varying across units, the complex currently enjoys 100% occupancy, generating a Net Operating Income (NOI) of $267,270 and a 3.34% cap rate. The asking price is $7,995,000, translating to $499,687.50 per unit and $715.76 per square foot. The property includes 16 parking spaces and onsite laundry facilities, enhanced by video surveillance. The majority of units have been remodeled to meet current coastal living standards. Situated in a desirable transition neighborhood, this property offers significant value-add potential for future income growth. Detailed financial records, including capital investments and maintenance costs, are available. This is a rare opportunity to acquire a well-maintained, historically stable asset with a strong track record. The property is offered as a 1031 exchange opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $2,903,351

  6.5%

  $2,680,016

  7%

  $2,488,586

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,802,082

  Geo Method

  $6,093,832

• Alternative Use

  Use

  Valuation

  Residential

  $2,680,016

  Hospitality

  $2,454,880

  Educational

  $2,042,432

  Medical

  $2,112,674

  Retail

  $3,177,116

Location Insight

City

San Diego

County

San Diego

State

California

Latitude

32.8047

Longitude

-117.24

CBSA code

41740

CBSA name

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

Property Tax & Assessments

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