San Diego Multifamily Investment Opportunity

1502 27th St, San Diego, CA 92154

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For Sale

$6,500,000

20-unit condo-grade apartment complex in San Diego.

Type:Commercial

Property size:

17,500 SF

Lot size:

0.71 Acres

Price / SF:

$371/SF

Listing Contact

Benn Vogelsang

Real Estate License ID: DRE01883437

HighLights

20‑unit condo‑grade apartment complex - all units are 2 Bedroom / 2 Bathroom.
Each unit features laundry hook ups with a full‑sized washer and dryer, plus separate water meters.
Recent renovations: new roofs, fascia boards, siding, exterior paint, gutters (2021) and resurfaced parking lots (2024).
Situated on a 30,927 square foot lot with frontage on two streets.
Benefit from security cameras and an approximately 300 square foot storage unit onsite.
Close to multiple parks, schools, and freeway access with good transit (Transit Score: 62).

Learn more

For Sale

$6,500,000

20-unit condo-grade apartment complex in San Diego.

Type:Commercial

Property size:

17,500 SF

Lot size:

0.71 Acres

Price / SF:

$371/SF

Added:: Apr 24, 2026
Days on Market:: 49
Last Refresh:: Apr 24 at 3:45 pm

Property Features for 1502 27th St

General Information

Standard status: Active
Size: 17,500 SF
Lot size: 0.71 Acres
Property subtype: Commercial

We can help!

Listing Contact

Benn Vogelsang

Listing agent Benn Vogelsang License #DRE01883437

Listing office NorthMarq - San Diego

Listing date Apr 24, 2026

Source Elliman

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of NorthMarq - San Diego

HighLights

20‑unit condo‑grade apartment complex - all units are 2 Bedroom / 2 Bathroom.
Each unit features laundry hook ups with a full‑sized washer and dryer, plus separate water meters.
Recent renovations: new roofs, fascia boards, siding, exterior paint, gutters (2021) and resurfaced parking lots (2024).
Situated on a 30,927 square foot lot with frontage on two streets.
Benefit from security cameras and an approximately 300 square foot storage unit onsite.
Close to multiple parks, schools, and freeway access with good transit (Transit Score: 62).

Overview

The Benton Apartments is a 20-unit apartment complex situated on a 30,927 square foot lot in San Diego. Constructed in 1985, the approximately 17,500 square feet of structures comprise three two-story buildings with pitched roofs. All 20 units feature a 2-bedroom, 2-bathroom layout. One unit is attached to the manager’s office, and another includes a large family room. The property provides 27 parking spaces distributed between two parking lots, one of which is secured by an automatic gate. Each unit is equipped with laundry hook-ups for a full-sized washer and dryer, as well as separate water meters. Recent upgrades include new fencing, landscaping, and signage. Each unit has its own private patio area, with some being notably large and one wrapping around multiple sides of the unit. Two units have mini-split air conditioning units, and half of the units have new vinyl plank flooring. Security cameras and an approximately 300 square foot storage unit are located on-site. The property is near multiple parks and schools, with convenient freeway access. In 2021, the roofs, fascia boards, and some siding were replaced, and the exterior and trim were repainted. New gutters were installed, and in 2024, the parking lots were resurfaced.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$630.0k	$36.00
− Vacancy	−$30.2k	−$1.73
EGI	$599.8k	$34.27
− OpEx	−$269.9k	−$15.42
NOI	$329.9k	$18.85

17,500 SF · lease $36.00/SF/yr · vacancy 4.80% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$4.71M

$4.12M – $5.50M (±1% cap)

NOI $329,868 @ 7.0% cap · market cap 5.07%

Second Best

—

no second resolved use

Theoretical Best

Office A

$6.26M

$5.48M – $7.31M (±1% cap)

NOI $438,480 @ 7.0% cap · market cap 6.75%

Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: San Diego
County: San Diego
State: California
Longitude: -117.07585
Latitude: 32.569565

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For sale
Apartment buildings
CA
San Diego
92154
1502 27th St

What type of property is this?

Apartment building - 20-unit condo-grade apartment complex in San Diego.

Where is this apartment building located?

The property is located at 1502 27th St San Diego, CA.

What is the asking price?

The asking price for this property is $6,500,000.

What are key features of this property?

This property features: 20‑unit condo‑grade apartment complex - all units are 2 Bedroom / 2 Bathroom.; Each unit features laundry hook ups with a full‑sized washer and dryer, plus separate water meters.; Recent renovations: new roofs, fascia boards, siding, exterior paint, gutters (2021) and resurfaced parking lots (2024).