2959-2981 54th St - Apartments FOR SALE


San Diego, CA 92105- Oak Park
$3,525,000 USD
858-876-5701
2959-2981 54th St, San Diego, CA for Sale
$3,525,000 USD
Apartments - FOR SALE
1/38
null | 5.06% Cap Rate

2959-2981 54th St
San Diego, CA 92105
Oak Park


HIGHLIGHTS

  • Three Fourplexes on three Separate APNs - offering potential alternative exit strategies
  • 33% 3BR Units | 66% 2BR Units - A rarity in today's multifamily market
  • 12 Parking Spaces on a 12,196sqft Lot

OVERVIEW

This beautifully refreshed 12-unit property presents a rare opportunity to acquire a pride-of-ownership asset with substantial income upside. Current rents offer immediate improvement potential, with just an 8.8% adjustment, investors can realize a meaningful increase in NOI while positioning the property for natural turnover to market rents. The 3-bedroom and 2-bedroom unit mix stands out in a market saturated with smaller one-bedroom and studio units, providing superior tenant demand and rent growth potential. Recent comparables have traded at similar price-per-unit metrics despite offering inferior layouts and limited income capacity, highlighting the value advantage of this asset. The 3 fourplexes also sit on 3 separate APNs offering the next buyer possible alternative exit strategies. With its recent exterior painting, new parking lot, strong fundamentals, and attractive unit composition, this property is poised to become a top performer in any portfolio.

FOR SALE DETAILS

PRICE

$3,525,000 USD

PRICE/SF

$377 USD /SF

# OF UNITS

12

PRICE/UNIT

$293,750

CAP RATE

5.06%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1958

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.28 AC

LAND SF

12,049 SF

ZONING

CN-1-2

APN/PARCEL ID

477-341-02,477-341-04,477-341-36,477-341-37

ASK ABOUT THIS PROPERTY

Christina LabowiczACI ApartmentsMore Info
858-876-5701

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

Christina LabowiczACI ApartmentsMore Info
858-876-5701

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