5260-5262 Rex Ave - Apartments FOR SALE


San Diego, CA 92105- Chollas Creek
$4,100,000 USD
858-761-2529
5260-5262 Rex Ave, San Diego, CA for Sale
$4,100,000 USD
Apartments - FOR SALE
1/15
null | 5.86% Cap Rate

5260-5262 Rex Ave
San Diego, CA 92105
Chollas Creek


HIGHLIGHTS

  • Comprised entirely of spacious two-bedroom/two-bathroom units
  • Desirable 1987 vintage
  • Abundant off-street parking for tenants, including 11 single-car garages
  • Two separate 6- and 7-unit buildings situated on congruent parcels
  • ADU conversion potential
  • Minutes from major employment hubs such as Mission Valley and Downtown San Diego

OVERVIEW

We are pleased to present 5260-62 Rex Avenue, a 13-unit property located in the City Heights neighborhood of San Diego, CA situated on two adjacent lots totaling 0.23 acres. The property is comprised of thirteen (13) two-bedroom / two-bathroom units and has 11 single car garages which presents an opportunity for ADU conversion. City Heights is known for its cultural diversity, locally owned businesses, and international cuisine. The residents are centrally located in San Diego near ground zero of City Heights new urban core. Residents enjoy quick access to El Cajon Boulevard and Interstate-15. This property is situated in a transit-oriented neighborhood with many public transportation options nearby. Located along major east-west/north-south thoroughfares and transit hubs provides residents ease of access to jobs, education, public facilities, parks and community recreation. The property boasts a walk score of 93 on Walkscore.com’s 100-point scale and is considered “Very Walkable” as daily errands do not require a car and countless retailers, restaurants, and services are also nearby. This property provides an investor the opportunity to purchase a quality value-add asset in a high barrier to entry market. The property has undergone consistent renovations throughout the units demonstrating pride of ownership and provides a prime opportunity to continue improvement through the potential development of additional units.

FOR SALE DETAILS

PRICE

$4,100,000 USD

PRICE/SF

$136 USD /SF

# OF UNITS

13

PRICE/UNIT

$315,385

CAP RATE

5.86%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1987

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.23 AC

LAND SF

10,019 SF

ZONING

RS-1-7

APN/PARCEL ID

472-491-17,472-491-18,472-491-19

ASK ABOUT THIS PROPERTY

Austin Ray HuffmanMarcus & MillichapMore Info
858-761-2529

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Austin Ray HuffmanMarcus & MillichapMore Info
858-761-2529

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