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942 23rd St 5 Unit Apartment Building $2,743,045 CAD ($548,609 CAD/Unit) 5.13% Cap Rate San Diego, CA 92102
Investment Highlights
- Fully furnished units
- Expansive patio area with outdoor kitchen, jacuzzi, grill and lounging area
- Five legal units, one non-conforming unit
- Strong in-place rent with upside
- Seller owned solar panels
Executive Summary
BridgePoint Realty, Inc. is proud to present 942 23rd St, a thoughtfully renovated apartment community in the heart of Golden Hill, ideally positioned to capture strong rental demand with fully furnished units. Combining attractive in-place cash flow with exceptional long-term upside, the property features an expansive shared outdoor amenity area complete with an outdoor kitchen, BBQ area, gas fire pit, shaded patio and spa — creating a highly desirable lifestyle experience for residents. Situated on a well-appointed 4,828 SF lot, the property consists of five legal units plus one non-conforming apartment unit, along with separately metered utilities enhanced by installed solar panels for improved operating efficiency.
Contact Alex Kohl
Contact Alex Kohl
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$231,719
|
$106.05
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$6,952
|
$3.18
|
| Effective Gross Income |
$224,767
|
$102.87
|
| Taxes |
$32,917
|
$15.06
|
| Operating Expenses |
$51,110
|
$23.39
|
| Total Expenses |
$84,027
|
$38.46
|
| Net Operating Income |
$140,741
|
$64.41
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $231,719 |
| Annual Per SF | $106.05 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $6,952 |
| Annual Per SF | $3.18 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $224,767 |
| Annual Per SF | $102.87 |
| Taxes (CAD) | |
|---|---|
| Annual | $32,917 |
| Annual Per SF | $15.06 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $51,110 |
| Annual Per SF | $23.39 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $84,027 |
| Annual Per SF | $38.46 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $140,741 |
| Annual Per SF | $64.41 |
Property Facts
| Price | $2,743,045 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $548,609 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.11 AC |
| Cap Rate | 5.13% | Building Size | 2,681 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 11.8 | No. Stories | 2 |
| No. Units | 5 | Year Built/Renovated | 1921/2021 |
| Property Type | Multifamily | Parking Ratio | 0.37/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | RM-1-2 - Residential Multi-Family Zoning | ||
| Price | $2,743,045 CAD |
| Price Per Unit | $548,609 CAD |
| Sale Type | Investment |
| Cap Rate | 5.13% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 11.8 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 2,681 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1921/2021 |
| Parking Ratio | 0.37/1,000 SF |
| Zoning | RM-1-2 - Residential Multi-Family Zoning |
Amenities
Unit Amenities
- Air Conditioning
- Storage Space
- Heating
- Hardwood Floors
- Views
- Deck
- Instant Hot Water
- Lawn
- Patio
- Vinyl Flooring
- Wet Bar
Site Amenities
- Spa
- Grill
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $3,293 CAD | - |
| 1+1 | 4 | $2,991 CAD | - |
| 1+2 | 1 | $4,125 CAD | - |
1 1
Moderately walkable
70/100
Very drivable
80/100
Good public transit
70/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 534-382-12 | Total Assessment | $1,797,524 CAD |
| Land Assessment | $1,250,453 CAD | Annual Taxes | $32,917 CAD ($12.28 CAD/SF) |
| Improvements Assessment | $547,071 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
534-382-12
Land Assessment
$1,250,453 CAD
Improvements Assessment
$547,071 CAD
Total Assessment
$1,797,524 CAD
Annual Taxes
$32,917 CAD ($12.28 CAD/SF)
Tax Year
2025
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942 23rd St
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