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1990 Harrison Ave 4 Unit Apartment Building $2,210,670 CAD ($552,667 CAD/Unit) 5.57% Cap Rate San Diego, CA 92113
Investment Highlights
- Priced aggressively, under our supported valuation range, for new construction and fully remodeled units in 92113.
- Strong in-place rents, with the two new 2BR/1BA units rented at $2,900/month each, helping prove rental capability.
- Intentionally vacant units for buyer flexibility, allowing easier showings and optionality for owner-users, investors, or market-rate lease-up.
- New construction and remodeled improvements in a 92113 market where much of the inventory is older or more rehab-heavy.
- Flexible unit mix, including two 2BR/1BA units, a large 1,150 SF “SFR-style” front unit, and a 350 SF 1BR loft.
- Attractive financial metrics, including approximately $393,750/unit, 12.56 GRM, and a 5.57% current cap rate.
Executive Summary
1990 Harrison Ave offers a rare opportunity to acquire a newly constructed and extensively remodeled 4-unit property in San Diego’s 92113 market. The property features two newly constructed 2-bedroom / 1-bath units, each approximately 750 square feet and currently rented for $2,900 per month. The new construction units include a roof top deck and owned solar, which was installed as part of the development requirements, helping support long-term operating efficiency.
The property also includes a detached 2-bedroom “SFR-style” unit of approximately 1,150 square feet with in-unit laundry, currently vacant, offering immediate flexibility for an owner-user, market-rate tenant, or lease-up opportunity. An additional vacant two-story 1-bedroom loft unit of approximately 350 square feet further enhances the property’s income potential and tenant profile.
A dedicated laundry room is located near the duplex portion of the property and serves three of the units, while the spacious 2-bedroom features in-unit hookups. The laundry equipment is owned by the property, and tenants currently do not pay separately to use it. With a mix of new construction, remodeled improvements, strong unit layouts, vacant upside, owned solar, and multiple income streams, 1990 Harrison Ave is well positioned for investors seeking a stabilized asset with additional lease-up potential in a central San Diego location.
The property also includes a detached 2-bedroom “SFR-style” unit of approximately 1,150 square feet with in-unit laundry, currently vacant, offering immediate flexibility for an owner-user, market-rate tenant, or lease-up opportunity. An additional vacant two-story 1-bedroom loft unit of approximately 350 square feet further enhances the property’s income potential and tenant profile.
A dedicated laundry room is located near the duplex portion of the property and serves three of the units, while the spacious 2-bedroom features in-unit hookups. The laundry equipment is owned by the property, and tenants currently do not pay separately to use it. With a mix of new construction, remodeled improvements, strong unit layouts, vacant upside, owned solar, and multiple income streams, 1990 Harrison Ave is well positioned for investors seeking a stabilized asset with additional lease-up potential in a central San Diego location.
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $2,210,670 CAD | Apartment Style | Townhome |
| Price Per Unit | $552,667 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.10 AC |
| Cap Rate | 5.57% | Building Size | 2,965 SF |
| Gross Rent Multiplier | 12.56 | Average Occupancy | 50% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1987/2024 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | RM-3-7 - Multi Family 10 Units or Less | ||
| Price | $2,210,670 CAD |
| Price Per Unit | $552,667 CAD |
| Sale Type | Investment |
| Cap Rate | 5.57% |
| Gross Rent Multiplier | 12.56 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Lot Size | 0.10 AC |
| Building Size | 2,965 SF |
| Average Occupancy | 50% |
| No. Stories | 2 |
| Year Built/Renovated | 1987/2024 |
| Opportunity Zone |
Yes |
| Zoning | RM-3-7 - Multi Family 10 Units or Less |
Amenities
Unit Amenities
- Air Conditioning
- Views
- Porch
- Large Bedrooms
Site Amenities
- Fenced Lot
- Laundry Facilities
- Roof Terrace
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 3 | $4,070 CAD | 750 - 1,150 |
| 1+1 | 1 | - | 350 |
1 1
Moderately walkable
70/100
Very drivable
80/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 538-140-13 | Improvements Assessment | $403,002 CAD (2026) |
| Land Assessment | $733,044 CAD (2026) | Total Assessment | $1,136,046 CAD (2026) |
Property Taxes
Parcel Number
538-140-13
Land Assessment
$733,044 CAD (2026)
Improvements Assessment
$403,002 CAD (2026)
Total Assessment
$1,136,046 CAD (2026)
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1990 Harrison Ave
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