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Town Pines 3013 C St 22 Unit Apartment Building $10,568,408 CAD ($480,382 CAD/Unit) 3.68% Cap Rate San Diego, CA 92102
Investment Highlights
- Majority 2-Bedroom Units
- Ground Level Gated Private Garage with 33 Parking Spaces
- Direct Access to Commuter Freeways - I-5 and State Route 94
- Value-Add with Under-market Rents
- Walking Distance to Restaurants, Coffee Shops, & Close Proximity to Downtown & Southpark
Executive Summary
Whitewater Commercial Real Estate is pleased to present Town Pines, a 22-unit apartment community located in Golden Hill, San Diego at 3013 C Street. Constructed in 1985, Town Pines consists of (12) two-bedroom/ one-and-a-half-bathroom units and (10) one-bedroom/one-bathroom units. The property features secure ground-level gated garage parking, on-site laundry, and is situated within walking distance of Golden Hill’s shops, restaurants, and Balboa Park.
Value-Add Opportunity For an investor seeking a value-add opportunity with a strong position, Town Pines delivers on multiple fronts. The 1985 vintage, 33 parking spaces, diversified unit mix, and Golden Hill location are all attributes that are difficult to find in today’s market. Current in- place rents trail renovated comparables in the submarket, representing a direct opportunity to increase revenue through a targeted interior upgrade plan.
Location Golden Hill sits east of Downtown San Diego with direct access to Balboa Park, Interstate 5, and State Route 94. The neighborhood offers a walkable mix of locally owned restaurants, cafes, and is experiencing an active wave of new development — a signal of sustained renter and investor demand. Residents are minutes from Downtown San Diego’s employment hub and the lifestyle destinations of North Park and Hillcrest.
Value-Add Opportunity For an investor seeking a value-add opportunity with a strong position, Town Pines delivers on multiple fronts. The 1985 vintage, 33 parking spaces, diversified unit mix, and Golden Hill location are all attributes that are difficult to find in today’s market. Current in- place rents trail renovated comparables in the submarket, representing a direct opportunity to increase revenue through a targeted interior upgrade plan.
Location Golden Hill sits east of Downtown San Diego with direct access to Balboa Park, Interstate 5, and State Route 94. The neighborhood offers a walkable mix of locally owned restaurants, cafes, and is experiencing an active wave of new development — a signal of sustained renter and investor demand. Residents are minutes from Downtown San Diego’s employment hub and the lifestyle destinations of North Park and Hillcrest.
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $10,568,408 CAD | Building Class | C |
| Price Per Unit | $480,382 CAD | Lot Size | 0.32 AC |
| Sale Type | Investment | Building Size | 14,896 SF |
| Cap Rate | 3.68% | Average Occupancy | 86% |
| Gross Rent Multiplier | 15.07 | No. Stories | 2 |
| No. Units | 22 | Year Built | 1985 |
| Property Type | Multifamily | Parking Ratio | 2.22/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | RM-2-5 - Residential Multi-Family Zoning | ||
| Price | $10,568,408 CAD |
| Price Per Unit | $480,382 CAD |
| Sale Type | Investment |
| Cap Rate | 3.68% |
| Gross Rent Multiplier | 15.07 |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.32 AC |
| Building Size | 14,896 SF |
| Average Occupancy | 86% |
| No. Stories | 2 |
| Year Built | 1985 |
| Parking Ratio | 2.22/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RM-2-5 - Residential Multi-Family Zoning |
Amenities
Unit Amenities
- Dishwasher
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
Site Amenities
- Laundry Facilities
- Playground
- Property Manager on Site
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | $2,410 CAD | 559 |
| 2+1.5 | 12 | $2,820 CAD | 775 |
Moderately walkable
60/100
Very drivable
80/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 539-542-01 | Total Assessment | $1,399,871 CAD |
| Land Assessment | $347,064 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $1,052,807 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
539-542-01
Land Assessment
$347,064 CAD
Improvements Assessment
$1,052,807 CAD
Total Assessment
$1,399,871 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
Contacts
-
Carson Trujillo -
Cole Silverman -
Connor Stolle -
Whitewater Commercial Real Estate
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Town Pines | 3013 C St
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