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428-438 Rosemont St 6 Unit Apartment Building $7,284,323 CAD ($1,214,054 CAD/Unit) 3.25% Cap Rate La Jolla, CA 92037
Investment Highlights
- ***Rock Star Location***92037***La Jolla***WINDNSEA***0.2 Miles to Windnsea Beach*Pacific Ocean*Neptune***
- $29,800 Long Term Monthly Market Rent/ $357,600 YR***3.25% Cap Rate***GRM 19.3***Holy Schmoley Short Term/AIRBNB Monthly Rent $50,000/$600,000 YR***
- 6 Units***Total 4,571Sq Ft Of Living Area***Two 2BR/2BA approx 900 Sq ft***Two 2BR/1BA approx 800 sq ft***Two 1BR/1BA approx 600 SqFt***
Executive Summary
***Rock Star Value Add Upside Potential***Renovate***Rent Reposition***Ay Carumba Stabilized Coastal Multifamily Asset Market Value $6,900,000***Mediterranean Coastal Affluent Community With Proximity To Coastal Amenities & Employment Centers*** Year Round Mild Temperatures Ranging Mid-50s to Mid-70s***92037***La Jolla Driven By Education*Healthcare*Biotechnology*Research*Tourism*Professional Services Provide A Strong Economic Base Which Support Upscale Single Family Homes*Luxury Condominiums*Apartment Buildings*Retail & Dining Hospitality Orientated Developments Sustaining Long Term Rental Desirability & Investment Stability***0.2 Miles To Neptune/ WINDNSEA Beach *Coastal Bluff With Pacific Ocean Views ***6 Units***Total 4,571Sq Ft Of Living Area***(4/6 renovation ready and vacant)***Two 2BR/2BA approx 900 Sq ft***Two 2BR/1BA approx 800 sq ft***Two 1BR/1BA approx 600 SqFt***On A Flat Level 9,227 (95 x100) Sq Ft Usable Corner Lot (Rosemont & Electric) With Alley Access & 4 One Car Garages (10x24)***$29,800 Long Term Monthly Market Rent/ $357,600 YR***3.25% Cap Rate***GRM 19.3***Holy Schmoly Short Term/AIRBNB Monthly Rent $50,000/$600,000 YR***
Ability to Generate Additional $127K+ per Year Converting Four (10x24) 240 Sq Ft Garages into Studios Renting For $2,650 Mth***
Going Going Gon_!
Ability to Generate Additional $127K+ per Year Converting Four (10x24) 240 Sq Ft Garages into Studios Renting For $2,650 Mth***
Going Going Gon_!
Data Room Click Here to Access
Financial Summary (Pro Forma - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$496,166
|
$110.26
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$19,847
|
$4.41
|
| Effective Gross Income |
$476,320
|
$105.85
|
| Taxes |
$110,097
|
$24.47
|
| Operating Expenses |
$51,674
|
$11.48
|
| Total Expenses |
$161,772
|
$35.95
|
| Net Operating Income |
$314,548
|
$69.90
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $496,166 |
| Annual Per SF | $110.26 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $19,847 |
| Annual Per SF | $4.41 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $476,320 |
| Annual Per SF | $105.85 |
| Taxes (CAD) | |
|---|---|
| Annual | $110,097 |
| Annual Per SF | $24.47 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $51,674 |
| Annual Per SF | $11.48 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $161,772 |
| Annual Per SF | $35.95 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $314,548 |
| Annual Per SF | $69.90 |
Property Facts
| Price | $7,284,323 CAD | Property Subtype | Apartment |
| Price Per Unit | $1,214,054 CAD | Apartment Style | Garden |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 3.25% | Lot Size | 0.23 AC |
| Sale Condition | 1031 Exchange | Building Size | 4,500 SF |
| Gross Rent Multiplier | 19.3 | Average Occupancy | 33% |
| No. Units | 6 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1950 |
| Zoning | R2 - RM-1-1 | ||
| Price | $7,284,323 CAD |
| Price Per Unit | $1,214,054 CAD |
| Sale Type | Investment |
| Cap Rate | 3.25% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 19.3 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 0.23 AC |
| Building Size | 4,500 SF |
| Average Occupancy | 33% |
| No. Stories | 1 |
| Year Built | 1950 |
| Zoning | R2 - RM-1-1 |
Amenities
Unit Amenities
- Heating
- Eat-in Kitchen
- Kitchen
- Views
- Yard
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 2 | $8,325 CAD | 900 |
| 2+1 | 2 | $7,284 CAD | 800 |
| 1+1 | 2 | $5,064 CAD | 600 |
1 1
Fairly walkable
50/100
Moderately drivable
70/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 351-471-21 | Total Assessment | $5,216,989 CAD (2025) |
| Land Assessment | $4,370,991 CAD (2025) | Annual Taxes | $110,097 CAD ($24.47 CAD/SF) |
| Improvements Assessment | $845,998 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
351-471-21
Land Assessment
$4,370,991 CAD (2025)
Improvements Assessment
$845,998 CAD (2025)
Total Assessment
$5,216,989 CAD (2025)
Annual Taxes
$110,097 CAD ($24.47 CAD/SF)
Tax Year
2026
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428-438 Rosemont St
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