Seven-Unit Apartment
For Sale
$1,750,000
Pending
7163 69 Central Ave, Lemon Grove, CA 91945
Apartment community with varied layouts, parking, private outdoor areas, and select garage access with laundry hookups.
Property Size6,316 SF
Lot Size0.46 Acres
Days on Market47
Property Features for 7163 69 Central Ave
General Information
Standard status
Pending
Size
6,316 SF
Total Parking Spaces
14
Lot size
0.46 Acres
Property subtype
Investment
Financials
Asking Price
$1,750,000
Gross Income
$146,064
Building Details
Building Size
6,316 SF
Year Built
1988
Units
7
Tenancy
Multi
Listing Agency:
Lee & Associates
Listed By:
Eric von Bluecher · License #01926201
(760) 929-7846
Source:
Elliman
Added: Sep 15
Changed: Oct 29
Last Checked: Oct 30 at 3:01PM
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 Lee & Associates
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Investment Insights
Based on property information with market context.
This 7-unit apartment property was built in 1988 on a 19,979-square-foot lot. The unit mix includes a three-bedroom, 2.5-bath front house and six two-bedroom residences, two of which are townhomes. Two two-bedroom units connect directly to garages with washer/dryer hookups. Additional features include 14 parking spaces, select private yards and balconies, and separate SDG&E meters. Completed property improvements include plumbing, roofing, decking, stairways, and HVAC work.
The property is in Lemon Grove with access to State Routes 94 and 125. Shopping, restaurants, La Mesa, Spring Valley, and Downtown San Diego are identified in the surrounding area. Walkability and transit scores are 49 and 32, respectively, while the bike score is 18.
The property is in Lemon Grove with access to State Routes 94 and 125. Shopping, restaurants, La Mesa, Spring Valley, and Downtown San Diego are identified in the surrounding area. Walkability and transit scores are 49 and 32, respectively, while the bike score is 18.
Key Highlights
- 7‑unit apartment property with one 3‑bedroom, 2.5‑bath house and six 2‑bedroom units
- Built in 1988 on a 19,979‑square‑foot lot
- Two townhomes included within the 2‑bedroom unit mix
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$104,943
Cap Rate
6.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,098,860
$2.1M
Cap Rate 7%
$1,499,186
$1.5M
Cap Rate 9%
$1,166,033
$1.2M
Market Conditions
NOI Build-Up for 6,316 SF
Gross rent
$200.8K $31.80/SF
− Vacancy
−$10.0K −$1.59/SF
EGI
$190.8K $30.21/SF
− OpEx
−$85.9K −$13.59/SF
NOI
$104.9K $16.62/SF
Area
San Diego County, CA
Vacancy
5.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,098,860
Cap Rate 7%
$1,499,186
Cap Rate 9%
$1,166,033
Alternative Uses
Best Use
Apartment 5plus
$1.50M
$1.31M – $1.75M
NOI $104,943 @ 7.0% cap · market cap 6.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.89M
$2.53M – $3.38M
NOI $202,565 @ 7.0% cap · market cap 11.58%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,074
Businesses Nearby
Explore this area
Business Placement
Demographics for 91945, CA
27,814
Population
9,715
Households
2.9
Avg Household Size
38
Median Age
20%
College-Educated
89%
High-School Grad
4.0 sq mi
ZIP Area
6,954
Density / Sq Mi
$79,381
Median Household Income
$41,727
Median Earnings
$1,769
Median Rent
$640,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Apartment community with varied layouts, parking, private outdoor areas, and select garage access with laundry hookups.
Where is this apartment building located?
The property is located at 7163 69 Central Ave Lemon Grove, CA.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: 7‑unit apartment property with one 3‑bedroom, 2.5‑bath house and six 2‑bedroom units; Built in 1988 on a 19,979‑square‑foot lot; Two townhomes included within the 2‑bedroom unit mix
