5020 Wightman St - Apartments FOR SALE


San Diego, CA 92105- Chollas Creek
$5,350,000 USD
415-250-4947
5020 Wightman St, San Diego, CA for Sale
$5,350,000 USD
Apartments - FOR SALE
1/7
null | 5.52% Cap Rate

5020 Wightman St
San Diego, CA 92105
Chollas Creek


HIGHLIGHTS

  • Market 9.4 GRM & 6.5% Cap Rate
  • Large Units & Most Interiors Upgraded
  • 1980 Construction & Plenty of Gated Parking
  • Located in a Strong Rental Market Near Transit

OVERVIEW

The Wightman Street Apartments feature 22 units built in 1980 situated on an approximately 22,642 sq ft lot. The approximately 17,209 sq ft structure holds a strong unit mix of two 3Bed/1Bath, twelve 2Bed/1Bath, and eight 1Bed/1Bath Units. The property features plenty of tuck under parking spaces and laundry facilities. The units have been renovated with a mix of tile and plank flooring, newer appliances, and cabinetry as well as tile counter tops. There is over 15% upside in the existing rents. The property is located just South of University Avenue in the retail and cultural hub of the City Heights Neighborhood in San Diego, California. It is near John Marshall Elementary School, the Waldorf School of San Diego, and several churches. City Heights is a high demand rental market and is a diverse and vibrant community. Farther down University is a new retail center in Fairmount Village with El Super, Starbucks, Chase and Wells Fargo banks, as well as numerous restaurants, the City Heights Library and new Police Station. Socially and economically, City Heights has a high concentration of businesses and households. Businesses tend to be smaller and wider spread than to the north and east. Like other urban mesa neighborhoods north of Balboa Park, City Heights has a high rate of pedestrian activity, relative to the rest of San Diego. City Heights is located next to many of the major highways with close access to the coast, beaches, business districts, downtown, and Mexico. City Heights is also at the forefront of neighborhood and community re-development thanks in large part to Price Charities who spearheaded the neighborhood revitalization in the early 2000s. Notable projects include the recently completed MTS Centerline Transit Line Plaza, Central Avenue Skate Plaza, and the new Copley-Price Family YMCA.

FOR SALE DETAILS

PRICE

$5,350,000 USD

PRICE/SF

$311 USD /SF

# OF UNITS

22

PRICE/UNIT

$243,182

CAP RATE

5.52%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Wightman Street Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1980

PARKING SPACES

30

LAND DETAILS

LAND ACRES

0.52 AC

LAND SF

22,642 SF

ZONING

RM-1-3

APN/PARCEL ID

471-622-11

ASK ABOUT THIS PROPERTY

Benn VogelsangNorthmarqMore Info
415-250-4947

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Benn VogelsangNorthmarqMore Info
415-250-4947

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.