6% CAP | 11-Unit Turnkey | City Heights

Property feature image
Property gallery image
Property gallery image
Property gallery image
Property gallery image
Address: 4781 -87 Cereza St, San Diego, CA 92102, USA
California & West + Apartment Buildings
Created date: September 15, 2026
Date last updated: September 15, 2026
Price: $3,825,000Investment Analyzer NEW!
  • 11 Units
  • Unit Mix: 3 × 1BR/1BA, 4 × 2BR/1BA, 4 × 2BR/2BA
  • 7,686 Rentable SF
  • Asking Price: $3,825,000
  • 6.24% Cap Rate
  • Approximately 11.00 GRM
  • Newer construction
  • 3 Stories
  • Quartz countertops and stainless steel appliances
  • In-unit washers and dryers
  • Energy-efficient mini-split HVAC systems
  • Gated pedestrian and vehicle access
  • On-site parking
  • Private balconies in select residences
  • Convenient access to Downtown San Diego
  • Located within a designated Opportunity Zone
  • Limited anticipated near-term capital expenditures

Property Description

Cereza Street Apartments presents the opportunity to acquire an 11-unit newer-construction multifamily community in San Diego’s Lincoln Park neighborhood. Offered at $3,825,000, the property provides investors with an attractive 6.24% capitalization rate and approximately 11.00 GRM, combined with modern construction and limited anticipated near-term capital requirements.

The property totals approximately 7,686 rentable square feet and features a well-balanced unit mix of three one-bedroom/one-bath units, four two-bedroom/one-bath units, and four two-bedroom/two-bath units. Residences feature contemporary finishes including quartz countertops, stainless steel appliances, modern cabinetry, hardwood-style flooring, in-unit washers and dryers, and energy-efficient mini-split heating and air conditioning. Select residences also feature private balconies, while the gated property provides secured access and on-site parking.

Located approximately eight minutes from Downtown San Diego, Cereza Street Apartments offers convenient access to major employment centers, freeways, public transportation, shopping, and dining, providing investors with the opportunity to acquire a stabilized multifamily asset with strong in-place cash flow.
Availabletick-green

Request Information

Due Digilence Documents

Due Diligence Documents

Letter of Intent

Submit LOI

Broker Details

Aaron Bove
Aaron Bove

Colliers 858-677-5319

Key Property Information

Listing Status: Available
Listing Type: Highest & best offer
Property Types: Apartment Buildings
Price: $3,825,000
No. of Units: 11
Cap Rate: 6.14%
GRM /GIM: 11.06
Year Built: 2023
Year Renovated: 2025
Building Size: 7,686 Sq ft
Lot Size: 10,048.00 Acres
No. of Stories: 3
APN: 547-323-05-00
Opportunity Zone: Yes
Price per unit: $347,727
Property Website Click Here
Address: 4781 -87 Cereza St, San Diego, CA 92102, USA

FINANCIAL DETAILS

Income/expense info: Actual
Financial year: 2026
Gross income: 345960
Effective Gross income: 336445
Operating expenses: 101790
Net operating income: 235001

Investment Analyzer

Step 1Financing Calculation

$
$
%
$
%
$
$

Step 2Gross Rent Analysis

Please enter annual amounts.

$
$
%
$
%
$
%
$
%
$
%
$
%
$
%
$
$

Step 3Cap Rate Calculation

%
$
%

Step 4Final Deal Analysis

$
$
%
%
$
$

Similar Properties in the Area

42nd Street Flats

42nd Street Flats

San Diego, California
California & West + Apartment Buildings
Units: 11
Price: $3,100,000
4930 Santa Monica Ave

4930 Santa Monica Ave

San Diego, California
California & West + Apartment Buildings
Units: 8
Price: $3,450,000
308 South The Strand

308 South The Strand

Oceanside, California
California & West + Apartment Buildings
Units: 21
Price: $14,000,000

Brokers

View All

Lenders

View All

Management

View All
Login
or
Sign up