18-Unit Cottage-Style Apartment
New
For Sale
$5,250,000
528 Olive Street & 2820 6th Avenue, San Diego, CA 92103
The two-parcel property includes studio and one-bedroom residences in a low-density configuration.
Property Size10,992 SF
Price / SF$477.62
Days on Market5
Property Features for 528 Olive Street & 2820 6th Avenue
General Information
Standard status
Active
Size
10,992 SF
Property subtype
Multi-Family
Units
Unit Mix
6 x studio, 12 x 1BR/1BA
Multifamily Units
18
Building Details
Construction
cottage-style
Listing Agency:
Marcus & Millichap
Listed By:
Austin Huffman ahuffman@ipausa.com
(951) 226-5454
Source:
Findhomesinsandiegoarea
Added: Oct 12
Changed: Oct 15
Last Checked: Oct 15 at 2:01AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
At 528 Olive Street and 2820 6th Avenue, this San Diego multifamily property spans two parcels and contains 18 residences. Its unit mix comprises six studios averaging approximately 490 square feet and twelve one-bedroom, one-bathroom units averaging approximately 671 square feet, arranged in a cottage-style layout.
The property sits directly across from Balboa Park. Bankers Hill and Hillcrest dining and entertainment, as well as Downtown San Diego, are within walking distance.
The property sits directly across from Balboa Park. Bankers Hill and Hillcrest dining and entertainment, as well as Downtown San Diego, are within walking distance.
Key Highlights
- 18 residences across two parcels
- Six studios averaging approximately 490 square feet each
- Twelve one‑bedroom, one‑bathroom units averaging approximately 671 square feet each
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$181,676
Cap Rate
3.46%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,633,520
$3.6M
Cap Rate 7%
$2,595,371
$2.6M
Cap Rate 9%
$2,018,622
$2.0M
Market Conditions
NOI Build-Up for 10,992 SF
Gross rent
$349.5K $31.80/SF
− Vacancy
−$19.2K −$1.75/SF
EGI
$330.3K $30.05/SF
− OpEx
−$148.6K −$13.52/SF
NOI
$181.7K $16.53/SF
Area
San Diego, CA
Vacancy
5.50%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,633,520
Cap Rate 7%
$2,595,371
Cap Rate 9%
$2,018,622
Alternative Uses
Best Use
Apartment 5plus
$2.60M
$2.27M – $3.03M
NOI $181,676 @ 7.0% cap · market cap 3.46%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.34M
$3.80M – $5.07M
NOI $303,907 @ 7.0% cap · market cap 5.79%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
18
Residential units
Location Intelligence
Trade Area within ½ mile
11,787
Businesses Nearby
Explore this area
Business Placement
Demographics for 92103, CA
33,311
Population
21,363
Households
1.6
Avg Household Size
42
Median Age
63%
College-Educated
97%
High-School Grad
3.7 sq mi
ZIP Area
9,003
Density / Sq Mi
$96,887
Median Household Income
$69,732
Median Earnings
$2,020
Median Rent
$986,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - The two-parcel property includes studio and one-bedroom residences in a low-density configuration.
Where is this apartment building located?
The property is located at 528 Olive Street & 2820 6th Avenue San Diego, CA.
What is the asking price?
The asking price for this property is $5,250,000.
What are key features of this property?
This property features: 18 residences across two parcels; Six studios averaging approximately 490 square feet each; Twelve one‑bedroom, one‑bathroom units averaging approximately 671 square feet each
