5260-5262 Rex Ave 13 Unit Apartment Building $5,745,986 CAD ($441,999 CAD/Unit) 5.86% Cap Rate San Diego, CA 92105

We are pleased to present 5260-62 Rex Avenue, a 13-unit property located in the City Heights neighborhood of San Diego, CA situated on two adjacent lots totaling 0.23 acres. The property is comprised of thirteen (13) two-bedroom / two-bathroom units and has 11 single car garages which presents an opportunity for ADU conversion.
City Heights is known for its cultural diversity, locally owned businesses, and international cuisine. The residents are centrally located in San Diego near ground zero of City Heights new urban core. Residents enjoy quick access to El Cajon Boulevard and Interstate-15. This property is situated in a transit-oriented neighborhood with many public transportation options nearby. Located along major east-west/north-south thoroughfares and transit hubs provides residents ease of access to jobs, education, public facilities, parks and community recreation. The property boasts a walk score of 93 on Walkscore.com’s 100-point scale and is considered “Very Walkable” as daily errands do not require a car and countless retailers, restaurants, and services are also nearby.
This property provides an investor the opportunity to purchase a quality value-add asset in a high barrier to entry market. The property has undergone consistent renovations throughout the units demonstrating pride of ownership and provides a prime opportunity to continue improvement through the potential development of additional units.