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Herschel Avenue Apartments 7447 Herschel Ave 13 Unit Apartment Building $7,237,125 CAD ($556,702 CAD/Unit) 3.49% Cap Rate La Jolla, CA 92037
EXECUTIVE SUMMARY
$500,000 PRICE REDUCTION! 7447-7453 Hershel Avenue Apartments represents a unique value-add and location-driven opportunity in one of San Diego’s most desirable neighborhoods. Situated in La Jolla Village and walking distance to beaches, restaurants, and shopping, the property occupies an “A” location in an area that rarely trades.
Originally constructed in 1953, the subject consists entirely of one-bedroom, one-bath units. With targeted interior renovations and exterior upgrades, there is potential to increase rents and overall property value, capturing additional upside in a strong market. Renovated properties with comparable locations are listing units for approximately $6.00/SF in rent.
The surrounding market supports sustained demand for multifamily rentals, with a median home sale price of $2.325 million as of June 2025 keeping homeownership out of reach for many and reinforcing the attractiveness of rental housing.
Originally constructed in 1953, the subject consists entirely of one-bedroom, one-bath units. With targeted interior renovations and exterior upgrades, there is potential to increase rents and overall property value, capturing additional upside in a strong market. Renovated properties with comparable locations are listing units for approximately $6.00/SF in rent.
The surrounding market supports sustained demand for multifamily rentals, with a median home sale price of $2.325 million as of June 2025 keeping homeownership out of reach for many and reinforcing the attractiveness of rental housing.
PROPERTY FACTS
| Price | $7,237,125 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $556,702 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 3.49% | Building Size | 5,655 SF |
| Gross Rent Multiplier | 16.3 | Average Occupancy | 97% |
| No. Units | 13 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1953 |
| Property Subtype | Apartment | Parking Ratio | 0.88/1,000 SF |
| Zoning | R3, San Diego - Multi-Family | ||
| Price | $7,237,125 CAD |
| Price Per Unit | $556,702 CAD |
| Sale Type | Investment |
| Cap Rate | 3.49% |
| Gross Rent Multiplier | 16.3 |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 5,655 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built | 1953 |
| Parking Ratio | 0.88/1,000 SF |
| Zoning | R3, San Diego - Multi-Family |
AMENITIES
UNIT AMENITIES
- Washer/Dryer
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 13 | $2,929 CAD | 392 - 435 |
Walk Score®
Walker's Paradise (97)
PROPERTY TAXES
| Parcel Number | 350-652-03 | Improvements Assessment | $652,500 CAD |
| Land Assessment | $2,392,559 CAD | Total Assessment | $3,045,059 CAD |
PROPERTY TAXES
Parcel Number
350-652-03
Land Assessment
$2,392,559 CAD
Improvements Assessment
$652,500 CAD
Total Assessment
$3,045,059 CAD
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Herschel Avenue Apartments | 7447 Herschel Ave
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