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3691 National Ave 22 Unit Apartment Building $6,745,998 CAD ($306,636 CAD/Unit) 5.44% Cap Rate San Diego, CA 92113
Investment Highlights
- Well Parked With Lots Of Garages On Site
- Low Price Per Unit
- 1990's Built
- Clean Condition
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. Uniquely new for San Diego, the property was built in 1990. It was originally a 15 unit complex that now has had seven brand new ADU's, with certificate of occupancy available. Due to the vintage and current condition, electrical/insurance/plumbing should not be problematic for any new owner. 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 | $6,745,998 CAD | Building Class | B |
| Price Per Unit | $306,636 CAD | Lot Size | 0.42 AC |
| Sale Type | Investment | Building Size | 12,077 SF |
| Cap Rate | 5.44% | Average Occupancy | 97% |
| Gross Rent Multiplier | 10.6 | 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 | $6,745,998 CAD |
| Price Per Unit | $306,636 CAD |
| Sale Type | Investment |
| Cap Rate | 5.44% |
| Gross Rent Multiplier | 10.6 |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.42 AC |
| Building Size | 12,077 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 |
|---|---|---|---|
| Studios | 1 | $2,059 CAD | 550 |
| 1+1 | 21 | $2,414 CAD | 625 |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 550-202-19 | Total Assessment | $4,332,976 CAD |
| Land Assessment | $2,693,258 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $1,639,718 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
550-202-19
Land Assessment
$2,693,258 CAD
Improvements Assessment
$1,639,718 CAD
Total Assessment
$4,332,976 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
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3691 National Ave
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