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2926-2934 5th Ave

5 Unit Block of Flats £1,972,500 (£394,500/Unit) 2.96% Net Initial Yield San Diego, CA 92103

Investment Highlights

  • In-unit Laundry
  • On-site Garages | ADU Potential
  • Adjacent to Main Entry to Balboa Park
  • Extensively Renovated Units
  • Highly Walkable | Dense Retail Corridor
  • Favorable CC-3-9 Zoning w/Tier 3 Complete Community Zone (6.5 FAR)

Executive Summary

2926 Fifth Avenue presents a prime investment opportunity with its blend of extensively renovated and turnkey income and redevelopment potential. This fully remodeled Spanish Colonial Revival property features five units - a spacious 2-bedroom 1-bath and four 1-bedroom 1-bath all turn-key ready. The existing four garages open the door to creating additional Accessory Dwelling Units (ADUs), significantly boosting rental income and property value.
Nestled in the heart of Bankers Hill, 2925-2934 Fifth Avenue offers the perfect blend of urban convenience and neighborhood charm. Residents will relish the neighborhood's historic charm and urban convenience, with Balboa Park, the San Diego Zoo, and Little Italy's vibrant scene all within walking distance. Everyday errands are a breeze with shops, cafes, and grocery stores nearby. Plus, the Uptown District's ongoing revitalization promises even more retail and dining options in the near future. This property is perfect for investors seeking both immediate cash flow and long-term growth potential in one of San Diego's most desirable locations. The subject property places you steps away from the vibrant energy of downtown San Diego, while still enjoying the leafy tranquility of Balboa Park that defines this historic community.

Financial Summary (Actual - 2023) Click Here to Access

Annual Annual Per SF
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 - 2023) Click Here to Access

Gross Rental Income
Annual $99,999
Annual Per SF $9.99
Other Income
Annual $99,999
Annual Per SF $9.99
Vacancy Loss
Annual $99,999
Annual Per SF $9.99
Effective Gross Income
Annual $99,999
Annual Per SF $9.99
Taxes
Annual $99,999
Annual Per SF $9.99
Operating Expenses
Annual $99,999
Annual Per SF $9.99
Total Expenses
Annual $99,999
Annual Per SF $9.99
Net Operating Income
Annual $99,999
Annual Per SF $9.99

Property Facts

Price £1,972,500
Price Per Unit £394,500
Sale Type Investment
Net Initial Yield 2.96%
Sale Conditions 1031 Exchange
Gross Rent Multiplier 19.5
No. Units 5
Property Type Residential
Property Subtype Apartment
Apartment Style Low Rise
Building Class B
Lot Size 0.11 AC
Building Size 3,440 SF
Average Occupancy 100%
Number of Floors 2
Year Built/Renovated 1936/2020
Parking Ratio 1.45/1,000 SF

Unit Amenities

  • Air Conditioning
  • Washer/Dryer Hookup
  • Granite Countertops
  • Wooden Floors
  • Stainless Steel Appliances

Site Amenities

  • 24 Hour Access
  • Gated

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
1+1 4 - 648 - 750
2+1 1 - 848 - 1,000
Walk Score ®
Very Walkable (81)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
452-662-07
Land Assessment
£1,046,616 (2024)
Improvements Assessment
£556,800 (2024)
Total Assessment
£1,603,416 (2024)
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2023

zoning

Zoning Code CC-3-9 (Tier 3 Complete Community Zone: 6.5 FAR Complete Communities Mobility Zone 2)
CC-3-9 (Tier 3 Complete Community Zone: 6.5 FAR Complete Communities Mobility Zone 2)
  • Listing ID: 33353269

  • Date on Market: 30/09/2024

  • Last Updated:

  • Address: 2926-2934 5th Ave, San Diego, CA 92103

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