2926-2934 5th Ave
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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.
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 | Apartment Style | Low Rise |
Price Per Unit | £394,500 | Building Class | B |
Sale Type | Investment | Lot Size | 0.11 AC |
Net Initial Yield | 2.96% | Building Size | 3,440 SF |
Sale Conditions | 1031 Exchange | Average Occupancy | 100% |
Gross Rent Multiplier | 19.5 | Number of Floors | 2 |
No. Units | 5 | Year Built/Renovated | 1936/2020 |
Property Type | Residential | Parking Ratio | 1.45/1,000 SF |
Property Subtype | Apartment |
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 |
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Walk Score ®
Very Walkable (81)
PROPERTY TAXES
Parcel Number | 452-662-07 | Total Assessment | £1,600,002 (2024) |
Land Assessment | £1,044,388 (2024) | Annual Taxes | -£1 (£0.00/sf) |
Improvements Assessment | £555,614 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
452-662-07
Land Assessment
£1,044,388 (2024)
Improvements Assessment
£555,614 (2024)
Total Assessment
£1,600,002 (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) |
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2926-2934 5th Ave
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