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Multifamily

4265 Altadena Ave

4265 Altadena Ave, San Diego, CA 92115

Listing Price: $4,350,000

Cap Rate
4.30%
Number of Units
21
GRM
14.40
Occupancy
97.0%
Price/Unit
$207,143
Price/Gross SF
$308.12
Gross SF
14,118

Investment Overview

Marcus & Millichap is pleased to present for sale a 21-unit value add apartment complex in the City Heights neighborhood of San Diego. Constructed in 1963, this property rests on a 15,625 SF lot and offers 14,118 of rentable SF.

4265 Altadena Avenue, also known as Town House East, is comprised of (20) 1-Bedroom/1-Bathroom units and (1) 2-Bedroom/1.5-Bathroom townhome. Amenities include off-street parking for every unit, secure gated entry, and a large underutilized communal courtyard. This property offers investors the rare opportunity to acquire a large complex with significant rental upside.

City Heights is known for its cultural diversity, locally owned businesses, and international cuisine. The neighborhood is a designated opportunity zone by the U.S Department of Treasury and may offer tax benefits for investors. With a walking score of 86, the asset is steps away from some of San Diegos most popular bars, restaurants, shops, and attractions on El Cajon Blvd and University Ave. City Heights is a neighborhood growing in popularity year after year. The increased demand for apartments in the area will continue to keep vacancy rates low and rent increases steady.

Investment Highlights

  • Opportunity Zone City Heights
  • Value Add Apartments
  • Significant Rental Upside
  • Off-Street Parking For Every Unit
  • Large Underutilized Courtyard

Exclusively Listed By

Listing Price: $4,350,000

Cap Rate
4.30%
Number of Units
21
GRM
14.40
Occupancy
97.0%
Price/Unit
$207,143
Price/Gross SF
$308.12
Gross SF
14,118

Investment Highlights

  • Opportunity Zone City Heights
  • Value Add Apartments
  • Significant Rental Upside
  • Off-Street Parking For Every Unit
  • Large Underutilized Courtyard

Investment Overview

Marcus & Millichap is pleased to present for sale a 21-unit value add apartment complex in the City Heights neighborhood of San Diego. Constructed in 1963, this property rests on a 15,625 SF lot and offers 14,118 of rentable SF.

4265 Altadena Avenue, also known as Town House East, is comprised of (20) 1-Bedroom/1-Bathroom units and (1) 2-Bedroom/1.5-Bathroom townhome. Amenities include off-street parking for every unit, secure gated entry, and a large underutilized communal courtyard. This property offers investors the rare opportunity to acquire a large complex with significant rental upside.

City Heights is known for its cultural diversity, locally owned businesses, and international cuisine. The neighborhood is a designated opportunity zone by the U.S Department of Treasury and may offer tax benefits for investors. With a walking score of 86, the asset is steps away from some of San Diegos most popular bars, restaurants, shops, and attractions on El Cajon Blvd and University Ave. City Heights is a neighborhood growing in popularity year after year. The increased demand for apartments in the area will continue to keep vacancy rates low and rent increases steady.

Exclusively Listed By

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