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2049 Julian Ave 5 Unit Apartment Building Offered at $1,367,050 CAD at a 3.88% Cap Rate San Diego, CA 92113
Investment Highlights
- Diverse Unit Mix (3BR, Studio & Three 1BR Bungalow Cottages
- Improving Logan Heights Neighborhood Minutes to Downtown
- Rents Well Below Market, Immediate Upside
- Walking Distance to Several Schools & Markets
Executive Summary
Long term ownership with a true Value Add component. Rents well below market and some deferred maintenance but priced accordingly. Located in Logan Heights in a solid Residential Neighborhood poised for rent growth and nearby development. Possibility of an Owner-Occupied investment with a 3BR Single Family Residence and 4 additional units for income. Mix is One 3Br/1Bath, One Studio (Non-Conforming), & Three 1BR/1Bath Bungalow style units. There is a garage in the rear that could be converted to an ADU.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$82,433
|
$34.43
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$82,433
|
$34.43
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$29,524
|
$12.33
|
| Net Operating Income |
$52,909
|
$22.10
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $82,433 |
| Annual Per SF | $34.43 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $82,433 |
| Annual Per SF | $34.43 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $29,524 |
| Annual Per SF | $12.33 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $52,909 |
| Annual Per SF | $22.10 |
Property Facts
| Price | $1,367,050 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $273,410 CAD | Building Size | 2,394 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| Cap Rate | 3.88% | No. Stories | 1 |
| No. Units | 5 | Year Built | 1940 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Price | $1,367,050 CAD |
| Price Per Unit | $273,410 CAD |
| Sale Type | Investment |
| Cap Rate | 3.88% |
| No. Units | 5 |
| Property Type | Multifamily |
| Apartment Style | Low-Rise |
| Building Size | 2,394 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1940 |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 1 | $2,051 CAD | 1,014 |
| Studios | 1 | $1,230 CAD | 300 |
1 1
Walk Score®
Very Walkable (89)
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2049 Julian Ave
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