
The Mendes Company
Listed by The Mendes Company
$2,095,000
N/A
Details
APN 4517360400
Property Type Multifamily
Sub Type Apartment Building
Square Footage 2,300
Units 4
Cap Rate 3.07%
Year Built 1942
Buildings 2
Zoning RM-2-5
Multifamily | 3.07% CAP | 4 Units
Marketing description
Rarely does a property of this caliber come to market in one of San Diego's most coveted neighborhoods. This four-unit offering delivers breathtaking panoramic views of the San Diego Harbor. The diverse unit mix includes two 1-bedroom/1-bathroom apartments with spectacular harbor vistas, a 2-bedroom/1-bathroom single-family home with bay views, and a charming studio with its own private yard — appealing to a wide range of tenants and investment strategies alike. The upside potential is as impressive as the views. Three single-car garages present a compelling ADU conversion opportunity, four dedicated on-site parking spaces add premium value in an urban setting, and the property qualifies for favorable residential 2–4-unit financing. The units are ripe for modernization, offering a true value-add canvas for an investor ready to renovate, reposition rents, and build meaningful equity in an irreplaceable location. For the owner-occupant, this is a rare chance to plant roots in an iconic San Diego neighborhood while rental income offsets the mortgage. For the long-term investor, the property's RM-2-5 zoning and Complete Communities Housing Solutions designation at 6.5 FAR unlock genuine development potential: the parcel sits within a Transit Priority Area with no coastal overlay, no historic designation, and no environmental constraints — a clean entitlement profile for a future ground-up multifamily or condo project. With harbor views, multiple exit strategies, and a location that simply cannot be recreated.
Listing Contacts

The Mendes Company
Listed by The Mendes Company
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