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3691 National Ave 22 Unit Apartment Building $7,465,500 CAD ($339,341 CAD/Unit) 5.25% Cap Rate San Diego, CA 92113
INVESTMENT HIGHLIGHTS
- 7 of 22 units are brand new (remaining units 1990 built)
- Laundry On Site
- Approved Electrical
- Gated Entry
- Garage Parking
- 1990 Original Vintage
EXECUTIVE SUMMARY
3691 National Ave is a 22 unit multifamily property located on the corner of National and 37th St in San Diego's "Southcrest" neighborhood. Built in 1990, this was originally a 15 unit complex that has had seven brand new ADU's built, with certificate of occupancy available. With strong in place rent and fundamentals currently, 3691 National will have low maintenance costs for the foreseeable future. The unit mix consists of twenty-one 1 bed/1 bath units and one studio. Ideally located between I-5 & I-805, the gated complex features nine garages as well as additional 11 off-street parking spaces for the tenants to utilize along with laundry on site.
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 | $7,465,500 CAD | Building Class | B |
| Price Per Unit | $339,341 CAD | Lot Size | 0.42 AC |
| Sale Type | Investment | Building Size | 20,927 SF |
| Cap Rate | 5.25% | Average Occupancy | 97% |
| Gross Rent Multiplier | 12.6 | No. Stories | 3 |
| No. Units | 22 | Year Built | 1990 |
| Property Type | Multifamily | Parking Ratio | 1.66/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | MS1-1500, San Diego - Multi-Family | ||
| Price | $7,465,500 CAD |
| Price Per Unit | $339,341 CAD |
| Sale Type | Investment |
| Cap Rate | 5.25% |
| Gross Rent Multiplier | 12.6 |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.42 AC |
| Building Size | 20,927 SF |
| Average Occupancy | 97% |
| No. Stories | 3 |
| Year Built | 1990 |
| Parking Ratio | 1.66/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | MS1-1500, San Diego - Multi-Family |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
- Garden
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Gated
- Walk-Up
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 21 | $2,392 CAD | 550 - 625 |
| Studios | 1 | $2,005 CAD | 400 |
1 1
Walk Score®
Very Walkable (72)
PROPERTY TAXES
| Parcel Number | 550-202-19 | Total Assessment | $4,284,496 CAD |
| Land Assessment | $2,663,124 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $1,621,372 CAD | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
550-202-19
Land Assessment
$2,663,124 CAD
Improvements Assessment
$1,621,372 CAD
Total Assessment
$4,284,496 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
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3691 National Ave
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