This exceptional multifamily investment opportunity presents a 16-unit apartment building situated on two contiguous parcels in San Diego's desirable Rolando Village neighborhood. The property boasts a total of approximately 11,488 rentable square feet, comprised entirely of spacious two-bedroom, one-bathroom units ranging from 712 to 724 square feet. Built in 1961, this property offers a compelling value-add potential for investors seeking a strong return. Its prime location offers residents convenient access to local amenities, including restaurants, parks, and shopping, while also being minutes away from major employment centers such as Downtown San Diego, Mission Valley, and San Diego State University (SDSU), approximately one mile away. The property benefits from its proximity to major freeways (Interstate 805, Interstate 8, and Highway 16), enhancing its appeal to both residents and investors. The asking price is $4,600,000, representing a price per unit of $287,500 and a price per square foot of $400.42. The property's strong location within a thriving submarket, coupled with its attractive cap rate of 4.92%, makes this a truly compelling investment opportunity in one of San Diego's most sought-after areas. The property's individual parcels (APN: 467-542-03-00/467-542-04-00) are offered for sale together. This presents a unique chance to acquire a well-positioned asset poised for growth in a dynamic San Diego market.
Valuation by Paperhouses methods
Valuation date:
Dec 11, 2024
CAP approach
CAP return
Valuation
6%
$1,749,028
6.5%
$1,614,488
7%
$1,499,167
Comparable approach
Method
Valuation
Relative Method
$1,688,022
Geo Method
$3,671,030
Alternative Use
Use
Valuation
Residential
$1,614,488
Hospitality
$1,478,862
Educational
$1,230,396
Medical
$1,272,711
Retail
$1,913,949
Location Insight
City
San Diego
County
San Diego
State
California
Latitude
32.7612
Longitude
-117.064
CBSA code
41740
CBSA name
SAN DIEGO-CARLSBAD-SAN MARCOS, CA METROPOLITAN STATISTICAL AREA
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.
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