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Auburn Apartments (Newer 1986 Construction) 4960-4970 Auburn Dr 45 Unit Apartment Building $14,793,192 CAD ($328,738 CAD/Unit) 6.10% Cap Rate San Diego, CA 92105
Investment Highlights
- High 6.10% CAP Rate on Actuals + Rental Upside
- 2 Bedroom Floorplans with Walk-in closets.
- 1986 Vintage - Beautiful Architecture with Stone Accents
- Low Price Per Unit @ $240,000
Executive Summary
Auburn Apartments is a 45 unit community located in the Fox Canyon neighborhood of San Diego, California. Built in 1986, Auburn Apartments consists of 44 two-bedroom, one-bath units that are approximately 690 square feet and 1 three three-bedroom, one-bath unit at approximately 910 square feet. Units provide a functional open floor plan and with walk-in closets in the master bedroom.
Fox Canyon is centrally located within City Heights zip code of the San Diego metropolitan area. Development in City Heights is a mixture of single-family and multi-family residential with commercial and other non-residential development concentrated along the major arterials, including El Cajon Boulevard, University Avenue, Fairmount Avenue, and Euclid Avenue. There are also pockets of neighborhood commercial areas throughout the community.
Fox Canyon is centrally located within City Heights zip code of the San Diego metropolitan area. Development in City Heights is a mixture of single-family and multi-family residential with commercial and other non-residential development concentrated along the major arterials, including El Cajon Boulevard, University Avenue, Fairmount Avenue, and Euclid Avenue. There are also pockets of neighborhood commercial areas throughout the community.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$1,465,249
|
$46.72
|
| Other Income |
$16,766
|
$0.53
|
| Vacancy Loss |
$43,958
|
$1.40
|
| Effective Gross Income |
$1,438,057
|
$45.86
|
| Taxes |
$185,122
|
$5.90
|
| Operating Expenses |
$350,944
|
$11.19
|
| Total Expenses |
$536,066
|
$17.09
|
| Net Operating Income |
$901,992
|
$28.76
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $1,465,249 |
| Annual Per SF | $46.72 |
| Other Income (CAD) | |
|---|---|
| Annual | $16,766 |
| Annual Per SF | $0.53 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $43,958 |
| Annual Per SF | $1.40 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $1,438,057 |
| Annual Per SF | $45.86 |
| Taxes (CAD) | |
|---|---|
| Annual | $185,122 |
| Annual Per SF | $5.90 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $350,944 |
| Annual Per SF | $11.19 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $536,066 |
| Annual Per SF | $17.09 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $901,992 |
| Annual Per SF | $28.76 |
Property Facts
| Price | $14,793,192 CAD | Building Class | C |
| Price Per Unit | $328,738 CAD | Lot Size | 1.07 AC |
| Sale Type | Investment | Building Size | 31,360 SF |
| Cap Rate | 6.10% | Average Occupancy | 100% |
| Gross Rent Multiplier | 10.1 | No. Stories | 2 |
| No. Units | 45 | Year Built | 1986 |
| Property Type | Multifamily | Parking Ratio | 1.81/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Garden | ||
| Zoning | RS-1-7 | ||
| Price | $14,793,192 CAD |
| Price Per Unit | $328,738 CAD |
| Sale Type | Investment |
| Cap Rate | 6.10% |
| Gross Rent Multiplier | 10.1 |
| No. Units | 45 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.07 AC |
| Building Size | 31,360 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1986 |
| Parking Ratio | 1.81/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RS-1-7 |
Amenities
Unit Amenities
- Granite Countertops
- Hardwood Floors
- Refrigerator
- Range
- Vinyl Flooring
Site Amenities
- Laundry Facilities
- Renters Insurance Program
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 44 | $2,739 CAD | 685 |
| 3+1 | 1 | $3,691 CAD | 900 |
Fairly walkable
50/100
Exceptionally drivable
90/100
Some public transit
40/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 471-792-17 | Total Assessment | $11,253,168 CAD |
| Land Assessment | $5,675,229 CAD | Annual Taxes | $185,122 CAD ($5.90 CAD/SF) |
| Improvements Assessment | $5,577,939 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
471-792-17
Land Assessment
$5,675,229 CAD
Improvements Assessment
$5,577,939 CAD
Total Assessment
$11,253,168 CAD
Annual Taxes
$185,122 CAD ($5.90 CAD/SF)
Tax Year
2025
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Auburn Apartments (Newer 1986 Construction) | 4960-4970 Auburn Dr
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