Listed by JP Equity Real Estate
$3,950,000
2901-2921 Columbia
Details
APN 4516331000
Property Type Multifamily
Sub Type Apartment Building
Square Footage 7,800
Units 11
Cap Rate 3.41%
Occupancy 100%
Pro-Forma Cap Rate 3.85%
Price per SqFt $506
Year Built 1957
Buildings 1
Stories 2
Lot Size (SqFt) 12,681
Zoning RM-2-5
Parking Spaces 11 spaces
Parking Per SqFt 1.41
Investment Type Value Add
Multifamily | 11 Units | $359,091/unit
Marketing description
Discover a compelling value-add investment opportunity -- 11-unit residential Investment. Property perfectly positioned in the heart of Middletown, one of Metro San Diego's most sought-after and consistently resilient neighborhoods. This is your chance to acquire a property in a sub-market that continues to attract strong renter demand and long-term appreciation potential. RM-2-5 zoned corner lot offers significant upside potential for investors looking to increase current rents and through unit upgrades or explore future development possibilities. The property is well-maintained and functionally sound, providing stable in-place income while an investor executes their value-add strategy. Key features include a desirable unit mix with many units enjoying pleasant views, mature landscaping, abundant off-street tenant parking, triple-pane windows, a pitch composition roof, a carport with attached storage, and common laundry facilities — all set on an elevated lot that enhances privacy and street presence. Large Lot! UNIT MIX -- One Large (3) Bedroom/2 bath, 3 (2) bedroom/1 bath and 6 (1) Bedrooms/One Bath and One Studio-See Brochure
Listing Contacts
Listed by JP Equity Real Estate
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