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5738 Meade Ave 3 Unit Apartment Building $1,971,379 CAD ($657,126 CAD/Unit) 5.45% Cap Rate San Diego, CA 92115
Investment Highlights
- Owner occupied or investor opportunity.
- Good mix of units.
- Great location.
Executive Summary
Excellent opportunity for an investor or owner-occupant to acquire a prime multi-family property in the highly desirable College Area, conveniently located near shopping, schools, and major freeways. This well-maintained and recently renovated property offers three separate living spaces, including a spacious four-bedroom, two-bathroom unit, a comfortable two-bedroom, one-bathroom unit, and a functional studio ideal for generating additional rental income. The property also features a two-car garage and has been thoughtfully updated, making it move-in ready and easy to lease. This is an outstanding opportunity for investors seeking a stable, income-producing asset or for an owner-occupant looking to offset living expenses with rental income. Do not disturb occupants. Shown with accepted offer. Shown with accepted offer.
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
Financial Summary (Pro Forma - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$142,037
|
$46.58
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$142,037
|
$46.58
|
| Taxes |
$24,665
|
$8.09
|
| Operating Expenses |
$11,747
|
$3.85
|
| Total Expenses |
$36,411
|
$11.94
|
| Net Operating Income |
$105,626
|
$34.64
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $142,037 |
| Annual Per SF | $46.58 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $142,037 |
| Annual Per SF | $46.58 |
| Taxes (CAD) | |
|---|---|
| Annual | $24,665 |
| Annual Per SF | $8.09 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $11,747 |
| Annual Per SF | $3.85 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $36,411 |
| Annual Per SF | $11.94 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $105,626 |
| Annual Per SF | $34.64 |
Property Facts
| Price | $1,971,379 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $657,126 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 5.45% | Building Size | 3,049 SF |
| Gross Rent Multiplier | 14.28 | No. Stories | 1 |
| No. Units | 3 | Year Built | 1950 |
| Property Type | Multifamily | Parking Ratio | 0.66/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | RS-1-7 | ||
| Price | $1,971,379 CAD |
| Price Per Unit | $657,126 CAD |
| Sale Type | Investment |
| Cap Rate | 5.45% |
| Gross Rent Multiplier | 14.28 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 3,049 SF |
| No. Stories | 1 |
| Year Built | 1950 |
| Parking Ratio | 0.66/1,000 SF |
| Zoning | RS-1-7 |
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Heating
- Refrigerator
- Tub/Shower
Site Amenities
- 24 Hour Access
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $2,313 CAD | - |
| 2+1 | 1 | $3,809 CAD | - |
| 4+2 | 1 | $5,374 CAD | - |
1 1
Moderately walkable
60/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 472-092-13 | Total Assessment | $1,222,893 CAD (2025) |
| Land Assessment | $597,860 CAD (2025) | Annual Taxes | $24,665 CAD ($8.09 CAD/SF) |
| Improvements Assessment | $625,033 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
472-092-13
Land Assessment
$597,860 CAD (2025)
Improvements Assessment
$625,033 CAD (2025)
Total Assessment
$1,222,893 CAD (2025)
Annual Taxes
$24,665 CAD ($8.09 CAD/SF)
Tax Year
2026
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5738 Meade Ave
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