Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    635-641 C St San Diego, CA 92101

    For Sale
    $13,950,000

    Downtown San Diego apartment building, value-add opportunity.

    Property size:
    50,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional 4-story, 39-unit apartment building presents a compelling value-add investment opportunity in the heart of San Diego's vibrant downtown core. Located at 635-641 C Street, this Class B property boasts 50,000 square feet of total space, with 41,655 square feet of net rentable area. Currently operating at 100% occupancy, the property generates a Net Operating Income (NOI) of $784,500, representing a 5.60% capitalization rate. However, significant upside potential exists due to below-market leases, promising a pro-forma NOI of $1,150,000 and an 8.24% pro-forma cap rate. The asking price is $13,950,000, translating to $279 per square foot and $357,692.31 per unit. The property benefits from its prime location on the San Diego Trolley line, a mixed-use zoning designation, and proximity to major employment centers, including the new UCSD Downtown Campus and Campus at Horton. The building also includes 45 underground parking spaces. This strategic location offers exceptional access to the Gaslamp Quarter, City College, and various city offices. This is a rare chance to acquire a well-positioned multifamily asset with substantial potential for increased profitability. The property's strong fundamentals and significant repositioning potential make it an attractive investment for discerning buyers.

    Property Features for 635-641 C St

    General Information

    Property type
    Multifamily properties
    Square Feet
    50,000 SF
    Class
    B

    Building Details

    Stories
    4
    Units
    39

    HighLights

    • $13,950,000 asking price for this value‑add multifamily apartment building.
    • Located in San Diego, CA at 635‑641 C St, 92101.
    • 39 units in a 4‑story, 50,000 square foot building with 41,655 net rentable square feet.
    • Currently 100% occupied, generating a $784,500 NOI and a 5.60% cap rate.
    • Pro forma NOI of $1,150,000 and a pro forma cap rate of 8.24%.
    • $357,692.31 per unit price and $279 per square foot.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    San Diego
    County
    San Diego
    State
    California
    Longitude
    -117.1586984
    Latitude
    32.7165073

    Nearby Similar for Sale

    • $1,798,999
      1,994 SF

      Renovated Luxury Home with ADU

      Fully renovated home with canyon views and income potential.
      3109 Hawk St, San Diego, CA 92103
      View Details
    • $3,699,000
      0.13 Acres

      Rare Mixed-Use Property in Bankers Hill

      Mixed-use property with commercial and residential zoning in coveted Bankers Hill.
      110 Maple St, San Diego, CA 92103
      View Details
    • $1,799,000
      Pending

      Renovated Triplex with Development Potential

      Turnkey triplex on large lot with ADU potential.
      6492-6494 Lanston St, San Diego, CA 92111
      View Details
    • $1,395,000
      Pending

      Remodeled Triplex in Southcrest/Shelltown

      Three fully remodeled homes in Southcrest/Shelltown, San Diego.
      4123 Gamma St, San Diego, CA 92113
      View Details
    • $2,095,000

      San Diego Triplex Opportunity

      Triplex in ideal location with rental income potential.
      1028-30 Lincoln Ave, San Diego, CA 92103
      View Details
    • $1,555,000
      Pending

      San Diego Multifamily with Views

      Two-unit property with views, development potential, and convenient location.
      3686-88 Columbia St, San Diego, CA 92103
      View Details

    FAQs

    What type of property is this?
    Multifamily property - Downtown San Diego apartment building, value-add opportunity.
    Where is this multifamily property located?
    The property is located at 635-641 C St San Diego, CA.
    What is the asking price?
    The asking price for this property is $13,950,000.
    What are key features of this property?
    This property features: $13,950,000 asking price for this value-add multifamily apartment building.; Located in San Diego, CA at 635-641 C St, 92101.; 39 units in a 4-story, 50,000 square foot building with 41,655 net rentable square feet.
    Request Owner's contact information
    635-641 C St San Diego, CA 92101
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    635-641 C St
    San Diego, CA 92101
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    635-641 C St San Diego, CA 92101
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.