$21,000,000 (Confirm scope) or Contact for Pricing
540 65th, San Diego, CA 92114
7‑Unit Investor Package Offered from a 47‑Unit San Diego Complex
5,180 Sq Ft
Rare small‑package opportunity in southeastern San Diego — verify units included.
5,180
Sq Ft
1989
Built
1.28 acres
Lot
No garage (surface parking)
Garage
About 540 65th St
Offered as a package within a larger 47‑unit garden complex, this opportunity lists seven units and associated building area totaling approximately 5,180 sqft on a generous 55,675 sqft (~1.28 acre) parcel in southeastern San Diego (ZIP 92114). The seller notes these seven units are being priced attractively relative to recent unit comps — an option for investors seeking a small, manageable package to add to a portfolio or to renovate and reposition for higher rents.
The buildings date to 1989 and present the typical footprint and finishes of late‑1980s garden apartments in this submarket. Units sit amid mature landscaping and surface parking, with multiple interior/exterior access points across the parcel. Photographs show consistent unit layouts and opportunities for cosmetic upgrades — kitchens and baths are functional but offer immediate upside from selective rehabs. The parcel scale gives flexibility for operational improvements such as upgraded laundry, parking reorganization, and phased capital expenditure plans.
Location is pragmatic for workforce housing demand: the property is within driving distance of Market Creek and neighborhood retail, with transit corridors providing connections to central San Diego employment nodes. The San Diego Unified School District serves the area. For an investor buyer, the package is positioned to generate stabilized cash flow with upside to rents through unit improvements and professionalized management.
Important: The Redfin feed records a list price of $21,000,000. The seller narrative included with the listing indicates pricing on a per‑unit basis (roughly $300k/unit) and references comps around $350k–$365k/unit. This listing requires immediate clarification — confirm with listing agent Michael Nucci whether the price reflects the 7‑unit package or the entire 47‑unit complex before underwriting. Rent roll, lease terms, and tenant data are available on request.
Home Highlights
Property Features
Interior Features
- Multiple unit layouts (primarily 1–2 bedroom configurations likely)
- Functional original kitchens and baths (late‑1980s finishes)
- Carpet and vinyl flooring typical for construction era
- Opportunities for unit cosmetic renovation to increase rents
Exterior & Lot
- Large combined parcel (~1.28 acres)
- Garden‑style building arrangement
- Surface parking; no garages listed
- Mature landscaping and private walkways
Location & Neighborhood
- Located in southeastern San Diego (92114) — close to local retail and community services
- Transit corridors and arterial access to central San Diego
- Workforce housing submarket with steady tenant demand
Walkability & Recreation
- Walkability Rating: 45/100
- Short drives to neighborhood parks and community centers
- Access to local shopping and transit lines
Neighborhood & Location
This property sits in southeastern San Diego, an established, working‑class area with a mix of garden apartments and single‑family homes. The neighborhood provides everyday conveniences — grocers, small shops and community services — and benefits from transit links into central San Diego. The submarket attracts renters who work locally or commute to jobs across the city, making it a stable target for small multifamily investors.
Market Insights
Southeastern San Diego (92114) is a value‑oriented submarket within the broader San Diego metro. Inventory for small multifamily packages is limited, and local investor demand remains steady for workforce housing product. Median single‑family prices in the city are well above national averages, but neighborhoods like Encanto and adjacent areas trade at a discount to the coastal core; this supports rental demand from local essential workers. Expect moderate appreciation (single‑digit annual in recent 12‑month snapshots) and active buyer pools for value‑add multifamily. For this listing, success hinges on confirming scope and accessing rent roll data; if priced near the seller's stated unit comps, it represents a compelling small‑cap buy that can be repositioned or held for stable income.
Nearby Schools
Encanto Elementary
Elementary · ≈1.0 mi
Keiller / Johnson (local middle options vary by parcel)
Middle · ≈1.5 mi
Morse High School
High · ≈2.5 mi
Walkability & Recreation
Short drives or brief transit rides to local parks and community centers; neighborhood supports outdoor recreation with pocket parks and community trails.
Investment Highlights
- 7‑unit package within an existing 47‑unit complex — allows selective scale purchase
- Large parcel footprint (~1.28 acres) that supports garden‑style layout and parking
- Seller indicates comps at $350k–$365k/unit — upside if priced below comparables
- Late‑1980s construction: opportunities for targeted cosmetic upgrades to increase rent
- Located in a transit‑served, workforce housing market with stable rental demand
Key Findings
- Feed lists a $21,000,000 price that conflicts with seller text indicating 7 units at ~$300k each — verify scope of sale.
- Total building area for the package is listed as 5,180 sqft; lot is 55,675 sqft (~1.28 acres).
- Year built: 1989 — building systems may be original or moderately aged.
- No garage recorded; surface parking is likely.
- San Diego Unified is the serving district; local school ratings are below city averages.
Things to Consider
- Major data inconsistency in list price vs. unit price in seller notes — critical to confirm.
- Limited interior and utility detail in the feed; physical inspection required to assess capital needs.
- Neighborhood rents and comps may vary widely by unit condition; assume conservative rent steps.
- Possible local zoning/occupancy rules or rent control/tenant protections to verify
Opportunity Analysis
Acquire a small 7‑unit package priced below nearby unit comps, execute light renovations and management optimization to increase net operating income and realize unit‑level appreciation or resale to investor buyers.
Potential Use Scenarios
- Immediate: verify exact units included and the listing scope with broker; review rent rolls and leases.
- Operational: perform targeted interior and exterior upgrades (kitchens, baths, paint, flooring) to justify rent increases to comps.
- Financial: underwrite conservatively using neighborhood rents and account for vacancy/turnover.
- Exit: market individually by unit or sell entire package to small‑cap multifamily investors depending on scale and NOI.
Risk Factors
- Incorrect pricing/scope may cause mis‑underwriting if list price reflects entire complex.
- Tenant protections / local ordinances could limit near‑term rent increases.
- Deferred capital needs or structural issues could materially increase rehab costs.
Buyers should conduct independent due diligence before making any purchase decisions.
AI Valuation Estimate
Low
$2300K
Midpoint
$2550K
High
$2800K
$492/SF estimated price per square foot
List price on feed (21,000,000) appears inconsistent with seller note in description (7 units at ~$300k each). Estimate anchors to unit‑level comps referenced in the scraped description (seller notes comps of $350–365k/unit) and the building area (5,180 sqft for the 7‑unit package). Provided estimate assumes the listing is for a 7‑unit package priced near $300k–$365k per unit rather than the 21M figure recorded in the feed. Verify with listing broker and public record.
As of 2026-03-13
This is a computer-generated estimate for informational purposes only and is not an appraisal or professional valuation.
Market & Area Data
Market Trends
Demographics
Southeastern San Diego neighborhoods have seen modest reinvestment and rental demand from workforce households; incomes below city median and strong rental demand historically.
Nearby Points of Interest
- Market Creek Plaza / Market Creek (≈1.0–1.5 mi)
- San Diego State University (≈6–7 mi)
Neighborhood amenities include small shopping nodes, community parks, and transit corridors servicing Southeastern San Diego. The area is primarily residential with community services nearby.
School District
Market data is based on aggregated public records and may not reflect real-time conditions.
Property Details
Building Details
Lot & Site
Utilities
Zoning & Land Use
Allowed Uses
Tax & Sale History
Tax Assessment
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