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Finestra Lofts 1943-1949 India St 8 Unit Apartment Building $7,579,770 CAD ($947,471 CAD/Unit) 4.06% Cap Rate San Diego, CA 92101
Executive Summary
BACK ON THE MARKET WITH A REDUCED PRICE! Finestra Lofts is a nine-unit condominium development located in the heart of San Diego’s vibrant Little Italy neighborhood. Built in 2006, the property offers a rare chance to own a modern, architecturally distinctive asset in a highly desirable urban location. With rising construction costs, Finestra Lofts provides the opportunity to purchase a newer property at a price well below replacement cost. Finestra Lofts also benefits from a recorded Final Map, allowing a buyer to sell individual condominium units immediately or hold as a flexible future exit strategy.
The five-story building features spacious, open-concept floor plans with select units offering premium Bay views. There is one ground floor commercial space currently occupied by an art gallery. Additional features include controlled access, elevator service and secure underground parking.
The property boasts a Walk Score of 99, providing residents with immediate access to the best of Little Italy and Downtown San Diego, including the San Diego Trolley, just a short walk away. Little Italy is booming with award winning restaurants, trendy bars and nightlife, Italian inspired coffee and gelato shops, and more.
The five-story building features spacious, open-concept floor plans with select units offering premium Bay views. There is one ground floor commercial space currently occupied by an art gallery. Additional features include controlled access, elevator service and secure underground parking.
The property boasts a Walk Score of 99, providing residents with immediate access to the best of Little Italy and Downtown San Diego, including the San Diego Trolley, just a short walk away. Little Italy is booming with award winning restaurants, trendy bars and nightlife, Italian inspired coffee and gelato shops, and more.
Property Facts
| Price | $7,579,770 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $947,471 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 4.06% | Building Size | 15,810 SF |
| Gross Rent Multiplier | 13.5 | Average Occupancy | 95% |
| No. Units | 8 | No. Stories | 5 |
| Property Type | Multifamily | Year Built | 2006 |
| Property Subtype | Apartment | Parking Ratio | 0.63/1,000 SF |
| Zoning | CCPD-NC, San Diego - Commercial | ||
| Price | $7,579,770 CAD |
| Price Per Unit | $947,471 CAD |
| Sale Type | Investment |
| Cap Rate | 4.06% |
| Gross Rent Multiplier | 13.5 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.11 AC |
| Building Size | 15,810 SF |
| Average Occupancy | 95% |
| No. Stories | 5 |
| Year Built | 2006 |
| Parking Ratio | 0.63/1,000 SF |
| Zoning | CCPD-NC, San Diego - Commercial |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Washer/Dryer
- Wheelchair Accessible (Rooms)
Site Amenities
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 4 | $4,621 CAD | 1,233 |
| 2+2.5 | 2 | $5,592 CAD | 1,630 |
| 2+2.5 | 2 | $6,716 CAD | 1,850 |
Exceptionally walkable
90/100
Very drivable
80/100
Good public transit
70/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 533-223-03 | Improvements Assessment | $3,203,598 CAD |
| Land Assessment | $2,285,459 CAD | Total Assessment | $5,489,057 CAD |
Property Taxes
Parcel Number
533-223-03
Land Assessment
$2,285,459 CAD
Improvements Assessment
$3,203,598 CAD
Total Assessment
$5,489,057 CAD
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Finestra Lofts | 1943-1949 India St
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