1501-1505 S 40th St - Apartments FOR SALE


San Diego, CA 92113- Southcrest
$1,650,000 USD
858-247-2487
1501-1505 S 40th St, San Diego, CA for Sale
$1,650,000 USD
Apartments - FOR SALE
1/7
null | 5.01% Cap Rate

1501-1505 S 40th St
San Diego, CA 92113
Southcrest


HIGHLIGHTS

  • Strong Unit Mix: (1) 5BD/3BA House (4) 2BD/1BA Units
  • (12) Off Street Parking Spots + (1) Garage
  • Large 17,668 SQFT Lot with Favorable Zoning: Complete Communities Tier 3: 6.5 FAR
  • Huge Potential with Multiple Value Add Strategies
  • Potential Lot Split
  • Massive ADU Opportunity

OVERVIEW

This 5-unit property offers strong in-place income and exceptional value-add potential, while boasting an attractive unit mix that includes a four-plex with four (4) 2BD/1BA units and a separate 5BD/3BA house with its own attached garage. Situated on an oversized lot, the site provides multiple value add opportunities for investors: (1) Add multiple ADUs within the expansive unused yard area, (2)pursue a lot split to separate the house from the 4-plex, and (3) explore full redevelopment with potential for 100+ units (buyer to verify). It is positioned just 10 minutes from Downtown and 15 minutes from Coronado Island. The surrounding neighborhood continues to benefit from ongoing public and private investment such as South Crest Park & Recreation Center and Cesar Chaves Elementary School, strengthening demand for quality housing and supporting long-term appreciation. With diverse value-add strategies, this asset represents a compelling opportunity for investors seeking both near-term value and scalable future upside.

FOR SALE DETAILS

PRICE

$1,650,000 USD

PRICE/SF

$342 USD /SF

# OF UNITS

5

PRICE/UNIT

$330,000

CAP RATE

5.01%

% LEASED

96%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Huge Upside + Multiple Value Add Strategies

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1944

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.41 AC

LAND SF

17,860 SF

ZONING

RM 2-5 /CC Tier 3: 6.5FAR

APN/PARCEL ID

551-320-17

ASK ABOUT THIS PROPERTY

Caleb ManciniApartment Realty Group (ARG)More Info
858-247-2487

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Caleb ManciniApartment Realty Group (ARG)More Info
858-247-2487

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.