5055 73rd St - Apartments FOR SALE


San Diego, CA 92115- College East
$12,750,000 USD
760-814-0114
5055 73rd St, San Diego, CA for Sale
$12,750,000 USD
Apartments - FOR SALE
1/11
null | 5.34% Cap Rate

5055 73rd St
San Diego, CA 92115
College East


HIGHLIGHTS

  • Well Maintained Property in a High Demand Rental Market
  • Value Add via Further Renovations and Upgrades
  • Workforce Housing
  • Close to SDSU and Transportation
  • SB 721 Compliant

OVERVIEW

South Coast Commercial, Inc is pleased to present Molokai Apartments, a garden-style multifamily investment opportunity located at 5055 73rd Street in San Diego’s established College East neighborhood. The property comprises a desirable mix of one- and two-bedroom floor plans ranging from approximately 562 to 1,000 square feet with most of the one bedroom units running 750 square feet, along with an additional non-conforming studio unit that provides incremental income potential. All units feature luxury vinyl plank flooring and electric appliances. Select units have unique architectural features including open beam vaulted ceilings, floor to ceiling windows, and a separate den that can be used as a home office. Ground level units have private fenced backyards while upstairs units have balconies with sliding glass doors. The property is SB721 compliant and all electrical sub-panels have been recently replaced. Residents enjoy gated entry, the sparkling swimming pool, and onsite laundry with leased equipment. Each unit has 1 assigned off street parking space. This well-maintained community represents a rare infill scale offering in a supply-constrained rental market, combining stabilized income with clear upside through targeted improvements. Strategically positioned near San Diego State University with immediate access to Interstate 8, Molokai Apartments benefits from durable student and workforce housing demand that supports long-term rental growth. The property provides investors with in-place cash flow, RUBS implementation, and a path to enhance returns and add value through further unit renovations, amenity upgrades, and operational efficiencies, making it a compelling value-add opportunity in one of San Diego’s proven multifamily corridors.

FOR SALE DETAILS

PRICE

$12,750,000 USD

PRICE/SF

$378 USD /SF

# OF UNITS

40

PRICE/UNIT

$318,750

CAP RATE

5.34%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Molokai Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1971

PARKING SPACES

40

LAND DETAILS

LAND ACRES

0.99 AC

LAND SF

43,124 SF

ZONING

R3

APN/PARCEL ID

469-100-25

ASK ABOUT THIS PROPERTY

Gary KaufmanSouth Coast Commercial, Inc.More Info
760-814-0114

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Gary KaufmanSouth Coast Commercial, Inc.More Info
760-814-0114

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