Encanto Multifamily Property for
701-15 60th Street, San Diego, CA 92114
New
10-unit multifamily property in Encanto, San Diego.
Type:Multifamily
Property size:
5,577 SFPrice / SF:
$403/SF- Added:
- May 27, 2026
- Days on Market:
- 4
- Last Refresh:
- May 27 at 8:28 am
Property Features for 701-15 60th Street
General Information
- Standard status
- Active
- Size
- 5,577 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1940
Listing agent Michael Greiner, CCIM License #01844828
Listing office CBRE - San Diego
Listing date May 27, 2026
Source Crexi
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 CBRE - San Diego
HighLights
- Favorable seller financing: up to 90% LTV, mid‑5% interest rate, interest‑only payments (negotiable).
- Qualified opportunity zone: significant tax advantages for investors.
- Value‑add potential: strong fundamentals in a growing rental market with low vacancy rates.
- Prime location: heart of Encanto, a culturally rich and evolving rental submarket.
- Excellent transit access: short walk to Encanto/62nd Street Trolley Station (Orange Line to Downtown) and multiple bus routes.
- Ample parking & on‑site laundry: 10 off‑street parking spaces and a dedicated laundry room with existing infrastructure.
Overview
Located in the Encanto neighborhood of Southeast San Diego, the property at 701–15 60th Street is a 10-unit multifamily building. Constructed in 1940, the property consists of eight one-bedroom, one-bathroom units averaging approximately 534 square feet, and two two-bedroom, one-bathroom units averaging 650 square feet. The building has pitched roofs and includes 10 off-street parking spaces. An on-site laundry room is equipped with existing electrical, a water heater, and plumbing infrastructure suitable for washer and dryer installation. The property is located within a federally designated Qualified Opportunity Zone. The property is a short walk from the Encanto/62nd Street Trolley Station, which provides access to Downtown San Diego via the Orange Line. Nearby roadways include Imperial Avenue, Euclid Avenue, and State Route 94, facilitating access to Lemon Grove, Valencia Park, and Skyline. Local amenities include Encanto Community Park, Marie Widman Memorial Park, and the San Diego Black Arts & Culture District along Imperial Avenue. Several bus routes (4, 916, 917, and 961) serve the area. The building has a total property size of 5577 square feet.
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 | $224.2k | $40.20 |
| − Vacancy | −$11.4k | −$2.05 |
| EGI | $212.8k | $38.15 |
| − OpEx | −$95.7k | −$17.17 |
| NOI | $117.0k | $20.98 |
5,577 SF · lease $40.20/SF/yr · vacancy 5.10% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.67M
$1.46M – $1.95M
NOI $117,019 @ 7.0% cap · market cap 5.20%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.06M
$1.81M – $2.41M
NOI $144,532 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- San Diego
- County
- San Diego
- State
- California
- Longitude
- -117.0676391
- Latitude
- 32.7124826
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 10-unit multifamily property in Encanto, San Diego.
Where is this apartment building located?
The property is located at 701-15 60th Street San Diego, CA.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Favorable seller financing: up to 90% LTV, mid‑5% interest rate, interest‑only payments (negotiable).; Qualified opportunity zone: significant tax advantages for investors.; Value‑add potential: strong fundamentals in a growing rental market with low vacancy rates.
