1732 5th Ave 10 Unit Apartment Building $3,465,333 CAD ($346,533 CAD/Unit) 4.28% Cap Rate San Diego, CA 92101

CBRE is pleased to present 1732 5th Avenue, a 10-unit apartment community located in the heart of Downtown San Diego. Originally constructed in 1938, the property
features a unit mix of eight (8) studio units and two (2) one-bedroom / one-bath units, catering to a wide range of urban renters.
The property is an extremely well-maintained vintage asset with long-term tenants currently paying below-market rents, presenting a compelling value-add opportunity through renovation and repositioning of units. Many units retain original finishes, offering investors the ability to modernize interiors and capture significant rental upside.
1732 5th Avenue offers a unique blend of historic charm and functional layouts, including hardwood flooring, full kitchens with gas ranges, built-in cabinetry, and ample storage throughout. Residents benefit from a gated courtyard setting and on-site laundry facilities, enhancing both comfort and convenience. The property has also recently undergone roof replacement down to the plywood, providing a significant capital improvement and reducing near-term maintenance requirements.
Ideally situated along 5th Avenue, the property boasts exceptional walkability, with immediate access to a variety of restaurants, retail, coffee shops, and entertainment options throughout Downtown San Diego. The location also provides close proximity to Hillcrest, Bankers Hill, and the Gaslamp Quarter, further enhancing its appeal.
The property offers excellent connectivity, with convenient access to Interstate 5, State Route 163, and Interstate 805, as well as nearby public transportation and trolley lines, allowing for efficient travel throughout the region.