3670 Altadena Ave - Apartments FOR SALE


San Diego, CA 92105- Chollas Creek
$2,495,000 USD
808-271-5252
3670 Altadena Ave, San Diego, CA for Sale
$2,495,000 USD
Apartments - FOR SALE
1/8
null | 4.54% Cap Rate

3670 Altadena Ave
San Diego, CA 92105
Chollas Creek


HIGHLIGHTS

  • Strong Upside Potential (23% Rent Upside)
  • 6.36% Pro Forma Cap Rate w/ Rubs
  • Located in an Opportunity Zone
  • All Roofs Replaced within Prior 3 Years
  • Very Well Parked (1.4 to 1.0 Parking Ratio)
  • Large Average SF/Unit Relative to Unit Mix

OVERVIEW

CBRE is pleased to present the pricing and analysis for 3670 Altadena Avenue, a 10-unit multifamily property located in the heart of Chollas Creek, one of San Diego’s centrally located and steadily evolving rental submarkets. The property features a unit mix of ten (10) large one-bedroom/one-bathroom units averaging approximately 650 square feet, with floorplans that offer potential for reconfiguration into two-bedroom units. Built in 1976, the property offers practical layouts that appeal to singles, couples, and long-term tenants. All roofs have been fully replaced within the last three years. Additionally, Altadena Avenue is in a designated Opportunity Zone, allowing buyers to potentially benefit from significant federal tax incentives, including deferral and reduction of capital gains taxes. This makes the property an attractive investment for those seeking both long-term growth and tax advantages. Chollas Creek continues to attract investor interest due to its central location, access to major employment centers, and proximity to public transit. The property is located near University Avenue, Euclid Avenue, and Interstate 15, providing convenient connectivity to neighborhoods such as Talmadge, Colina del Sol, and City Heights, as well as San Diego State University. Residents enjoy access to local amenities including Fox Canyon Park, Colina del Sol Park, and shopping centers such as University Square and City Heights Retail Village. The area is served by multiple bus routes, including the 7, 10, and 115, enhancing mobility throughout Mid-City and East San Diego. With the area’s growing population and increasing demand for well-located, affordable rental housing, 3670 Altadena Avenue presents an excellent opportunity for investors seeking a value-add asset with solid fundamentals in a dynamic and accessible submarket of San Diego County.

FOR SALE DETAILS

PRICE

$2,495,000 USD

PRICE/SF

$383 USD /SF

# OF UNITS

10

PRICE/UNIT

$249,500

CAP RATE

4.54%

% 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

1976

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.36 AC

LAND SF

15,464 SF

ZONING

RM-2-5

APN/PARCEL ID

471-810-27-00

ASK ABOUT THIS PROPERTY

808-271-5252

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808-271-5252

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