Canyon-Facing 4-Unit Apartment
3553 Landis Street San Diego, CA 92104
3553 Landis Street, San Diego, CA, 92104
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For Sale
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Built in 1987, the property includes four large 3BR/2BA units on a flat lot.
Property Size3,660 SF
Lot Size0.21 Acres
Price / SF$545.08
Days on Market9
Property Features for 3553 Landis Street
General Information
- Standard status
- Active
- Size
- 3,660 SF
- Lot size
- 0.21 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1987
Listing agency
Marcus & Millichap - San Diego
(818) 212-2250
Listed by
Thomas McCartin · License #01427348
Source
Crexi
Added: Jul 14 Updated: Jul 20 at 4:57AM Checked: Jul 22 at 12:01PM
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 Marcus & Millichap - San Diego
Investment Insights
Based on property information with market context.
Landis Canyon Apartments is a canyon-facing 4-unit apartment property built in 1987. The building is configured with four large 3BR/2BA units on a flat lot, with current income reported at approximately $11,400 per month.
Architectural plans are in place to add two additional units, including combinations of 2BR/2BA and 3BR/3BA layouts. The projected additional income is cited at approximately $7,000 per month.
The property is centrally located in the 92104 zip code, positioned between the 805 and 15 freeways. The remarks also note that tenants have walkable access to retail, dining, and entertainment, with proximity to North Park, South Park, and Normal Heights.
Architectural plans are in place to add two additional units, including combinations of 2BR/2BA and 3BR/3BA layouts. The projected additional income is cited at approximately $7,000 per month.
The property is centrally located in the 92104 zip code, positioned between the 805 and 15 freeways. The remarks also note that tenants have walkable access to retail, dining, and entertainment, with proximity to North Park, South Park, and Normal Heights.
Key Highlights
- Landis Canyon Apartments is a 4‑unit property built in 1987 with four large 3BR/2BA units.
- Flat 0.21‑acre lot with canyon‑facing units.
- Centrally located between I‑805 and I‑15, near North Park, South Park, and Normal Heights.
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 | $116.4k | $31.80 |
| − Vacancy | −$6.4k | −$1.75 |
| EGI | $110.0k | $30.05 |
| − OpEx | −$49.5k | −$13.52 |
| NOI | $60.5k | $16.53 |
3,660 SF · lease $31.80/SF/yr · vacancy 5.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$864.2K
$756.2K – $1.01M
NOI $60,493 @ 7.0% cap · market cap 3.03%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.45M
$1.26M – $1.69M
NOI $101,192 @ 7.0% cap · market cap 5.07%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Multifamily properties
Similar For Sale Nearby
FAQs
What type of property is this?
Multifamily property - Built in 1987, the property includes four large 3BR/2BA units on a flat lot.
Where is this multifamily property located?
The property is located at 3553 Landis Street San Diego, CA.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: Landis Canyon Apartments is a 4‑unit property built in 1987 with four large 3BR/2BA units.; Flat 0.21‑acre lot with canyon‑facing units.; Centrally located between I‑805 and I‑15, near North Park, South Park, and Normal Heights.
