Royal Diane Apartments 5005 Diane Ave 27 Unit Apartment Building $11,690,280 CAD ($432,973 CAD/Unit) 4.64% Cap Rate San Diego, CA 92117

Royal Diane Apartments is a well-maintained 27 unit garden-style apartment community in the rarely available Clairemont submarket. The property provides investors an opportunity to acquire a strategically located asset with significant upside near many major retail centers and employment hubs in San Diego.
The property consists of eight 1 Bed / 1 Bath (29%) 650 SF and nineteen 2 Bed / 2 Bath (71%) 1,100 SF floor plans with community amenities that include secure gated access, on-site parking (27 spaces) and on-site laundry. The floor plans are well designed with large bedrooms, dedicated dining areas, large storage closets, storage nooks and private balconies or patios.
There is significant rental upside by completing further interior renovations. Most units have already received various interior upgrades including new LVP flooring, refreshed kitchen cabinets and new appliances. In addition, current ownership has recently completed significant capex projects including a new roof in 2024, updated electrical panels (main panel & individual interior panels) and new exterior paint. The building also recently passed SB 721 inspections.
The property is located directly across the street from a major retail center and is also near numerous other grocery stores, restaurants, and shopping destinations. Residents enjoy easy access to both the I-805 and the 52 Freeways and are within a 10-15 minute drive of La Jolla beaches and San Diego’s most notable employment hubs—such as University City, Kearny Mesa, Mission Valley, and downtown—ideally positioning the property to benefit from future nearby job growth.