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Highland Manor 4254 Highland Ave 8 Unit Apartment Building $2,854,950 CAD ($356,869 CAD/Unit) San Diego, CA 92115
Investment Highlights
- Desirable San Diego Location: Positioned in the College Grove/Talmadge area with high walkability to schools, retail, and transit.
- Solid Financials: The property is offered at a 5.10% current capitalization rate and generates a current Net Operating Income of $106,092.50.
- Convenient On-Site Amenities: The property offers 9 dedicated parking spaces and a coin-operated laundry facility for tenant convenience.
- Recent Capital Expenditures: The building features a newer roof, a brand-new 100-gallon water heater, and various interior unit improvements.
- Value-Add Upside: Opportunity to achieve a 5.30% pro-forma capitalization rate and a pro-forma Net Operating Income of $121,569.71.
- Excellent Connectivity: Close proximity to the I-15 and I-8 freeways provides seamless access throughout the region.
Executive Summary
Highland Manor is a two-story, 8-unit apartment building located in the College Grove and Talmadge area of San Diego. Offered at $2,100,000, the property encompasses ±5,694 square feet of building space on a ±0.14-acre lot. The community features a strong mix of one- and two-bedroom floor plans, nine on-site parking spaces, and a coin-operated laundry room. Ownership has recently completed several capital improvements, including a newer roof, a newly installed 100-gallon water heater, and numerous interior upgrades. Situated near Highland Avenue and El Cajon Boulevard, the property provides tenants with exceptional walkability to nearby schools, employment centers, public transportation, and retail amenities, alongside immediate access to the I-15 and I-8 freeways.
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- Offering Memorandum
Property Facts
| Price | $2,854,950 CAD | Building Class | C |
| Price Per Unit | $356,869 CAD | Lot Size | 0.14 AC |
| Sale Type | Investment | Building Size | 5,694 SF |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1971 |
| Property Subtype | Apartment | Parking Ratio | 1.05/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | MR10B | ||
| Price | $2,854,950 CAD |
| Price Per Unit | $356,869 CAD |
| Sale Type | Investment |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 5,694 SF |
| No. Stories | 2 |
| Year Built | 1971 |
| Parking Ratio | 1.05/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | MR10B |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | - | - |
| 2+1 | 2 | - | - |
| 2+2 | 1 | - | - |
1 1
Moderately walkable
70/100
Very drivable
80/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 471-241-19 | Improvements Assessment | $609,705 CAD |
| Land Assessment | $472,023 CAD | Total Assessment | $1,081,729 CAD |
Property Taxes
Parcel Number
471-241-19
Land Assessment
$472,023 CAD
Improvements Assessment
$609,705 CAD
Total Assessment
$1,081,729 CAD
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Highland Manor | 4254 Highland Ave
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