25-Unit Apartment
1541 Eighth Avenue San Diego, CA 92101
For Sale
$5,950,000
Historic 25-unit apartment community with studio, one-bedroom, and penthouse/commercial unit plus shared laundry and basement storage.
Property Size11,400 SF
Price / SF$521.93
Days on Market75
Property Features for 1541 Eighth Avenue
General Information
- Standard status
- Active
- Size
- 11,400 SF
- Property subtype
- Commercial-Res Income / Com-Res Income
Listing Agency:
Conor Brennan, Broker
(720) 841-8139
Listed By:
Conor M Brennan · License #01918598
(720) 841-8139
Source:
Compass
Added: May 12
Changed: Jul 22
Last Checked: Jul 25 at 10:00AM
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 Conor Brennan, Broker
Investment Insights
Based on property information with market context.
1541 Eighth Avenue presents a 25-unit apartment community originally constructed in 1914. The property’s unit mix includes studio units, one-bedroom apartments, and a penthouse/commercial unit. Residents also have access to a shared laundry facility, and the building includes a substantial basement-level storage area.
Located in the Cortez Hill neighborhood of Downtown San Diego, the community benefits from a highly walkable urban setting with nearby access to daily amenities and entertainment. The property is described as within walking distance of Little Italy, the Gaslamp Quarter, and East Village, with Balboa Park located just minutes away.
For buyers, the offering includes attractive assumable financing, featuring an existing $1.25 million loan with a 3.45% fixed interest rate through September 2030.
Located in the Cortez Hill neighborhood of Downtown San Diego, the community benefits from a highly walkable urban setting with nearby access to daily amenities and entertainment. The property is described as within walking distance of Little Italy, the Gaslamp Quarter, and East Village, with Balboa Park located just minutes away.
For buyers, the offering includes attractive assumable financing, featuring an existing $1.25 million loan with a 3.45% fixed interest rate through September 2030.
Key Highlights
- 25‑unit apartment community in Downtown San Diego’s Cortez Hill neighborhood
- Mix of unit types including studio, one‑bedroom, and a penthouse/commercial unit
- Originally constructed in 1914 and includes 1 building with 4 stories
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $362.5k | $31.80 |
| − Vacancy | −$19.9k | −$1.75 |
| EGI | $342.6k | $30.05 |
| − OpEx | −$154.2k | −$13.52 |
| NOI | $188.4k | $16.53 |
11,400 SF · lease $31.80/SF/yr · vacancy 5.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.69M
$2.36M – $3.14M
NOI $188,420 @ 7.0% cap · market cap 3.17%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.50M
$3.94M – $5.25M
NOI $315,187 @ 7.0% cap · market cap 5.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Historic 25-unit apartment community with studio, one-bedroom, and penthouse/commercial unit plus shared laundry and basement storage.
Where is this apartment building located?
The property is located at 1541 Eighth Avenue San Diego, CA.
What is the asking price?
The asking price for this property is $5,950,000.
What are key features of this property?
This property features: 25‑unit apartment community in Downtown San Diego’s Cortez Hill neighborhood; Mix of unit types including studio, one‑bedroom, and a penthouse/commercial unit; Originally constructed in 1914 and includes 1 building with 4 stories
