559-565 61st St - Apartments FOR SALE


San Diego, CA 92114- Encanto
$1,875,000 USD
425-405-8892
559-565 61st St, San Diego, CA for Sale
$1,875,000 USD
Apartments - FOR SALE
1/38
null | 5.37% Cap Rate

559-565 61st St
San Diego, CA 92114
Encanto


HIGHLIGHTS

  • Desirable Unit Mix: (1) 4 Bed / 2 Bath & (6) 2 Bed / 1 Bath
  • 6 Tandem Parking Spaces and Gravel area that could be utilized for additional parking
  • Strong In-Place Income with Rental Upside

OVERVIEW

559-565 61st Street is a rare opportunity to acquire a 7 unit multifamily asset situated across four separate structures on a large 15,606 square foot lot. The property features a desirable unit mix of (6) 2 bedroom/1 bathroom units and (1) 4 bedroom/2 bathroom unit, providing broad tenant appeal and strong occupancy potential. Current rents sit below market, creating a clear opportunity to increase cash flow through targeted interior renovations, strategic lease up, and professional management. An existing RUBS program provides supplemental income while helping offset utility expenses. Encanto remains an attractive investment submarket driven by its relative affordability, strong neighborhood character, and convenient access to transportation. The property is located within walking distance of the Encanto/62nd Street Trolley Station, offering direct connectivity to Downtown San Diego. The property is located within a Federal Opportunity Zone, offering significant tax advantages for qualifying capital gains investments.

FOR SALE DETAILS

PRICE

$1,875,000 USD

PRICE/SF

$324 USD /SF

# OF UNITS

7

PRICE/UNIT

$267,857

CAP RATE

5.37%

% LEASED

85%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1940

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.34 AC

LAND SF

15,019 SF

ZONING

RX-1-1

APN/PARCEL ID

549-052-10

ASK ABOUT THIS PROPERTY

Miles SlaterLandmark Multifamily And DevelopmentMore Info
425-405-8892

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Miles SlaterLandmark Multifamily And DevelopmentMore Info
425-405-8892

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