www.crexi.com - The Commercial Real Estate Exchange
Subscribe to Intelligence for full access
Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
Subscribe to Intelligence for full access
Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
23574639
23574638

1877 Irving, San Diego, CA 92113

VL
CA CA 02059761
VKREA Commercial
Listed by VKREA Commercial
$1,549,900
372 days on market
Updated 42 days ago
Opportunity zone

San Diego 5 unit

Details
APN 5381003600
Property Type Multifamily
Sub Type Apartment Building
Net Rentable (SqFt) 3,490
Units 5
Cap Rate 5.84%
NOI $90,558
Occupancy 100%
Pro-Forma Cap Rate 7.63%
Pro-Forma NOI $118,206
Broker Co-Op No
Class B
Year Built 163
Buildings 2
Stories 2
Acreage 7,800 - 7,900
Zoning Builder
Parking Spaces spaces
Investment Type Stabilized
Ground Lease No

5 Unit Brand New Construction Apartment Building

Marketing description

Newly constructed 5-unit multifamily asset completed in 2024, offering a rare opportunity to own a modern, low-maintenance investment property in one of San Diegos most connected urban locations. Built for long-term efficiency, the property features owned solar, all-electric building systems, and in-unit washer and dryer in every unit, creating a highly attractive setup for both investors and tenants. The newer construction and energy-conscious design help support lower maintenance demands and more efficient day-to-day operation. The property consists of two detached buildings with a desirable mix of two 2-bedroom/1-bath units and three 1-bedroom/1-bath units. Contemporary finishes, functional layouts, and modern design elements give the property strong tenant appeal and position it well against older housing stock in the area. Ideally located just south of Downtown San Diego near the Coronado Bridge, the property benefits from excellent access to major employment hubs, transportation corridors, dining, retail, and entertainment. The surrounding Barrio Logan area is one of San Diegos oldest and most culturally rich neighborhoods, located south of Downtown and shaped by the presence of the Port of San Diego and Naval Station San Diego. It is also known for its gallery scene, shopping, dining, and proximity to Chicano Park, a National Historic Landmark and cultural destination. These neighborhood qualities help create the kind of location story that stands out to renters and investors alike. With new construction, owned solar, all-electric efficiency, in-unit laundry, and a l

Investment highlights

1877–1881 Irving Avenue, San Diego, CA 92113

Offered at $1,549,900

  • Brand New 2024 Construction
  • Ground-up construction just completed — offering modern systems, code compliance, and minimal deferred maintenance.
  • Desirable Unit Mix
  • Two detached structures comprising:
    • (2) Large 2-Bedroom / 1-Bath Units
    • (3) Two-Story Loft-Style 1-Bedroom / 1-Bath Units
    • All units feature in-unit laundry, high-end finishes, and energy-efficient appliances.
  • Prime Central San Diego Location
  • Walkable to Balboa Park, minutes from Downtown, Gaslamp, Coronado Bridge, and I-5 freeway — one of San Diego’s strongest rental corridors.
  • Energy-Efficient & Low-Expense Asset
    • Owned solar panels (no loan or lease)
    • All-electric units with separate meters
    • Tenants pay electricity
    • Owner pays water (except one affordable unit)
    • $400/month in utility reimbursements from tenants
  • Strong Income Potential & Upside
    • Market Gross Income: $13,469/month
    • Pro Forma NOI: $120,750
    • Projected Pro Forma Cap Rate: 6.73%
    • Median Market Rents: $2,977 (2BD), $2,505 (1BD)
  • Affordable Housing Component
  • Includes 1 designated affordable housing unit per San Diego Housing Commission, creating a potential opportunity for long-term incentives.
  • Ideal for Passive Investors & 1031 Exchange Buyers
  • Fully stabilized, professionally built, and located in a market with long-term appreciation and low vacancy — this is a true turnkey asset.
Icon
Powered by San Diego MLS
Learn More

Listing Contacts

VL
CA CA 02059761
VKREA Commercial
Listed by VKREA Commercial

Valuation Calculator

Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
$
$
%
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$90,558.00
$7,546.50/mo

Valuation Metrics

0
DSCR
5.84%
Cap Rate
5.84%
ROI

Map

Broker Selected Comps View More Comps

Property History

Intelligence Badge

Tax History

Intelligence Badge

Similar Properties

View All

Additional Information

Name
Varinder Kumar Luhanibal
License
CA 02059761
Brokerage
VK REA
Brokerage Phone
5624180998
Title
Real Estate Broker
Brokerage Address
5000 Birch Street
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
Is there information that looks off?
For assistance, reach out to our support team at [email protected] or call 888.273.0423 . For press inquiries, contact [email protected]
Equal Housing Opportunity
5510 Lincoln Blvd #400, Los Angeles, CA 90094Commercial Real Estate Exchange, Inc.Crexi Technologies, LLCCXTechnology, LLC
© 2026 Commercial Real Estate Exchange, Inc. All Rights Reserved. DRE #02086591