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5602 Dorothy Dr - 5602 & 5610 Dorothy Dr 4,611 SF Specialty Building Offered at $5,943,420 CAD in San Diego, CA 92115
Investment Highlights
- Fully leased through 26/27 academic year at $23,200–$23,650/month — zero lease-up risk
- 7BR per unit drives premium rents and strong yield-per-SF in the SDSU corridor
- Two adjacent lots, 13,200 SF combined — a rare covered land assemblage
- RM-3-9 Zoning (1dwelling/600Sqft)
Executive Summary
Two adjacent parcels totaling 13,200 SF with 4 units total, zoned RM-3-9 within the College Area Community Plan Update — a designated Transit Priority Area (TPA) and Sustainable Development Area (SDA). Base zoning supports 23+ units by right at 1 unit per 600 SF, with additional density available through state and local bonus programs. TPA eliminates parking minimums and unlocks density bonus eligibility; SDA supports higher-intensity infill.
Currently operating as student rentals — each property (SFR + attached ADU) is master-leased as a single unit. 5602 Dorothy Dr (7BR/3BA, 2,111 SF) leases at $11,600/month through 25/26, stepping up to $11,800/month for 26/27. 5610 Dorothy Dr (7BR/4BA, 2,500 SF) leases at $11,600/month through 25/26, stepping up to $11,850/month for 26/27 — totaling $23,200/month currently, escalating to $23,650/month with no lease-up risk.
Currently operating as student rentals — each property (SFR + attached ADU) is master-leased as a single unit. 5602 Dorothy Dr (7BR/3BA, 2,111 SF) leases at $11,600/month through 25/26, stepping up to $11,800/month for 26/27. 5610 Dorothy Dr (7BR/4BA, 2,500 SF) leases at $11,600/month through 25/26, stepping up to $11,850/month for 26/27 — totaling $23,200/month currently, escalating to $23,650/month with no lease-up risk.
Financial Summary (Pro Forma - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$401,605
|
$87.10
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$20,080
|
$4.35
|
| Effective Gross Income |
$381,525
|
$82.74
|
| Taxes |
$74,293
|
$16.11
|
| Operating Expenses |
$10,981
|
$2.38
|
| Total Expenses |
$85,274
|
$18.49
|
| Net Operating Income |
$296,251
|
$64.25
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $401,605 |
| Annual Per SF | $87.10 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $20,080 |
| Annual Per SF | $4.35 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $381,525 |
| Annual Per SF | $82.74 |
| Taxes (CAD) | |
|---|---|
| Annual | $74,293 |
| Annual Per SF | $16.11 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $10,981 |
| Annual Per SF | $2.38 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $85,274 |
| Annual Per SF | $18.49 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $296,251 |
| Annual Per SF | $64.25 |
Property Facts
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Numbers | Total Assessment | $2,279,314 CAD (2025) | |
| Land Assessment | $1,027,861 CAD (2025) | Annual Taxes | $74,293 CAD ($16.11 CAD/SF) |
| Improvements Assessment | $1,251,454 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Numbers
Land Assessment
$1,027,861 CAD (2025)
Improvements Assessment
$1,251,454 CAD (2025)
Total Assessment
$2,279,314 CAD (2025)
Annual Taxes
$74,293 CAD ($16.11 CAD/SF)
Tax Year
2026
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5602 Dorothy Dr - 5602 & 5610 Dorothy Dr
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