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Fourteen On N Avenue 915 N Ave 14 Unit Apartment Building $4,424,787 CAD ($316,056 CAD/Unit) 4.61% Cap Rate National City, CA 91950
INVESTMENT HIGHLIGHTS
- RUBS Billing Recaptures ~90% of Water & Trash (Expandable to Sewage)
- Spacious 1-Bedroom Units – Approx. 600 SF Each
- 15 Off-Street Parking Spaces
- Located in a High-Demand Rental Market with Below-Market Rents
- Well-Maintained Interiors with Modern Finishes
EXECUTIVE SUMMARY
We are pleased to exclusively present Fourteen on N Avenue, a 14-unit multifamily property located in National City, CA. Built in 1960 on a 0.2-acre lot, the property consists of all 1-bedroom/1-bathroom units, each approximately 600 square feet. Interiors feature updated flooring, cabinetry, and appliances. Additionally, the site includes 15 off-street parking spaces, a valuable amenity in this dense rental corridor.
The property utilizes a RUBS system to recapture approximately 90% of water and trash expenses, with potential to extend to sewage. Located in a high-demand rental market, the asset’s below-market rents offer a clear opportunity to attract a strong tenant base and increase income through strategic renovations. Its central location and accessibility to major freeways and retail corridors make it an attractive opportunity for investors seeking long-term growth and stable occupancy.
The property utilizes a RUBS system to recapture approximately 90% of water and trash expenses, with potential to extend to sewage. Located in a high-demand rental market, the asset’s below-market rents offer a clear opportunity to attract a strong tenant base and increase income through strategic renovations. Its central location and accessibility to major freeways and retail corridors make it an attractive opportunity for investors seeking long-term growth and stable occupancy.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $4,424,787 CAD | Building Class | C |
| Price Per Unit | $316,056 CAD | Lot Size | 0.20 AC |
| Sale Type | Investment | Building Size | 8,400 SF |
| Cap Rate | 4.61% | Average Occupancy | 100% |
| Gross Rent Multiplier | 13.18 | No. Stories | 2 |
| No. Units | 14 | Year Built | 1960 |
| Property Type | Multifamily | Parking Ratio | 1.67/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | RM-3 - Multi-Family 5-15 units | ||
| Price | $4,424,787 CAD |
| Price Per Unit | $316,056 CAD |
| Sale Type | Investment |
| Cap Rate | 4.61% |
| Gross Rent Multiplier | 13.18 |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 8,400 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1960 |
| Parking Ratio | 1.67/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RM-3 - Multi-Family 5-15 units |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Microwave
- Tile Floors
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Walk-In Closets
- Double Pane Windows
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Tenant Controlled HVAC
- Public Transportation
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 14 | - | 550 |
1 1
Walk Score®
Very Walkable (85)
PROPERTY TAXES
| Parcel Number | 557-180-34 | Total Assessment | $4,213,176 CAD (2025) |
| Land Assessment | $2,732,871 CAD (2025) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $1,480,304 CAD (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
557-180-34
Land Assessment
$2,732,871 CAD (2025)
Improvements Assessment
$1,480,304 CAD (2025)
Total Assessment
$4,213,176 CAD (2025)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2024
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Fourteen On N Avenue | 915 N Ave
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