4781 Cereza St 11 Unit Apartment Building $5,945,610 CAD ($540,510 CAD/Unit) 5.70% Cap Rate San Diego, CA 92102

Located in the vibrant Lincoln Park neighborhood of San Diego, this fully renovated 11-unit apartment community offers investors a stabilized, turnkey asset in one of the city's strongest rental submarkets. Completed in 2023 with additional improvements finalized in 2025, the approximately 8,380-square-foot property features modern construction, contemporary building systems, and minimal ongoing maintenance requirements. The community offers an efficient mix of three one-bedroom/one-bathroom units, four two-bedroom/one-bathroom units, and four two-bedroom/two-bathroom units, with floor plans ranging from approximately 525 to 886 square feet.
Situated on a 0.23-acre site, the property delivers a low-maintenance investment with quality in-place tenants and strong operating performance. Each residence features open-concept living areas, shaker-style cabinetry, stainless steel appliances, hardwood-style flooring, designer interior finishes, in-unit laundry, and energy-efficient mini-split heating and air conditioning systems. Select units also offer walk-in closets, private balconies with neighborhood and city views, and abundant natural light.
The gated, smoke- and vapor-free community includes secured pedestrian and vehicle access, designated on-site parking, and modern infrastructure designed for long-term durability. With immediate access to Downtown San Diego, major freeways, employment centers, shopping, dining, and public transit, the property combines stable cash flow, minimal capital expenditure requirements, and long-term appreciation potential in one of San Diego's most active multifamily markets.