11-Unit Multifamily Corner
2901-2921 Columbia San Diego, CA 92103
2901-2921 Columbia, San Diego, CA, 92103
Contact for pricing
For Sale
Contact for pricing
Well-maintained 11-unit apartment building on an RM-2-5 zoned corner lot with off-street parking and common laundry.
Property Size7,800 SF
Price / SF$532.05
Days on Market93
Property Features for 2901-2921 Columbia
General Information
- Standard status
- Active
- Size
- 7,800 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1957
Listing agency
JP Equity Real Estate
(619) 325-4100
Listed by
Judy Preston, CCIM · License #CA 01074104
Source
Crexi
Added: Apr 22 Updated: Jul 22 at 1:17PM Checked: Jul 22 at 1:17PM
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 JP Equity Real Estate
Investment Insights
Based on property information with market context.
This well-maintained 11-unit apartment building is offered as a value-add opportunity. The property sits on an RM-2-5 zoned corner lot and features multiple units with views, mature landscaping, abundant off-street tenant parking, triple-pane windows, and a pitch composition roof. Residents also benefit from a carport with attached storage and common laundry facilities.
Positioned in the heart of Middletown within Metro San Diego, the building’s elevated lot helps enhance privacy and street presence.
The current configuration provides in-place residential income while allowing an investor to pursue unit upgrades and, depending on approvals, explore future development possibilities consistent with the RM-2-5 zoning.
Positioned in the heart of Middletown within Metro San Diego, the building’s elevated lot helps enhance privacy and street presence.
The current configuration provides in-place residential income while allowing an investor to pursue unit upgrades and, depending on approvals, explore future development possibilities consistent with the RM-2-5 zoning.
Key Highlights
- 11‑unit residential apartment building, built in 1957
- RM‑2‑5 zoned corner lot with mature landscaping and an elevated setting
- Abundant off‑street tenant parking plus a carport with attached storage
Local 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 | $248.0k | $31.80 |
| − Vacancy | −$13.6k | −$1.75 |
| EGI | $234.4k | $30.05 |
| − OpEx | −$105.5k | −$13.52 |
| NOI | $128.9k | $16.53 |
7,800 SF · lease $31.80/SF/yr · vacancy 5.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.84M
$1.61M – $2.15M
NOI $128,919 @ 7.0% cap · market cap 3.11%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.08M
$2.70M – $3.59M
NOI $215,654 @ 7.0% cap · market cap 5.20%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Well-maintained 11-unit apartment building on an RM-2-5 zoned corner lot with off-street parking and common laundry.
Where is this apartment building located?
The property is located at 2901-2921 Columbia San Diego, CA.
What is the asking price?
The asking price for this property is $4,150,000.
What are key features of this property?
This property features: 11‑unit residential apartment building, built in 1957; RM‑2‑5 zoned corner lot with mature landscaping and an elevated setting; Abundant off‑street tenant parking plus a carport with attached storage
