701-15 N 60th St | Seller Financing Available 701-715 60th St 10 Unit Apartment Building $3,100,815 CAD ($310,081 CAD/Unit) 4.09% Cap Rate San Diego, CA 92114

CBRE is pleased to present 701–15 60th Street, a 10-unit multifamily property located in the heart of Encanto, one of Southeast San Diego’s most culturally rich and evolving rental submarkets. The property features a unit mix of eight (8) one-bedroom / one-bathroom units averaging approximately 534 square feet, and two (2) two-bedroom / one bathroom units averaging 650 square feet. Built in 1940, the property was constructed with pitched roofs and provides ample parking with 10 off-street spaces. Additionally, the property features a dedicated on-site laundry room with existing electrical, a water heater, and plumbing infrastructure, ideal for washer and dryer installation.
701-15 N. 60th Street also can provide very favorable seller financing terms. The Seller is willing to provide up to 90% LTV, debt in the mid-5% range, with interest only payments. All terms are open to negotiation. The subject property is also situated within a federally designated Qualified Opportunity Zone, presenting a compelling tax advantage for investors deploying capital gains into the asset.
Encanto continues to attract investor interest due to its affordability, strong community identity, and proximity to transit. The property is located just a short walk from the Encanto/62nd Street Trolley Station, providing direct access to Downtown San Diego via the Orange Line. Major roadways nearby include Imperial Avenue, Euclid Avenue, and State Route 94, offering convenient connectivity to surrounding neighborhoods such as Lemon Grove, Valencia Park, and Skyline. Residents enjoy access to local amenities including Encanto Community Park, Marie Widman Memorial Park, and the vibrant San Diego Black Arts & Culture District along Imperial Avenue between 61st and 69th Streets. The area is also served by multiple bus routes including the 4, 916, 917, and 961, enhancing mobility throughout Southeast San Diego.
With Southeast San Diego’s growing population, low vacancy rates, and increasing demand for affordable, well-located rental housing, 701–15 60th Street presents an excellent opportunity for investors seeking a value-add asset with solid fundamentals.