4382 53rd Street, San Diego, CA

Overview

Price: $2,850,000
Number of Units: 12
Year Built: 1979
Price per Unit: $237,000
Current GRM: 12.53
Current Cap Rate: 5.2%
Mix:

(8) 1-bedroom, 1-bath units

(4) 2-bedroom, 1-bath units

Description

Colina del Sol offers a great unit mix of 1 and 2 bedroom units that have all been recently renovated
and stabilized with great tenants at market rents making this a cash cow for any investors. With the
recent AB 1482 bill(rent control) passing, 53rd Street Apartments gives an owner the opportunity to
save money on rehabilitation and enjoy in place market rents while still leaving room for the annual
allotted rental increase. The property also offers 3 additional storage units that can be converted into
legal units under the ADU/ density bonus law. These storage units have been converted and are in rent
ready condition, giving the owner the option add additional income.