The Meridian   |   18 Units - College Area
4902 67th Street San Diego CA 92115
List Price
$5,100,000
Price Per Unit
$283,333
Cap Rate
5.25 %
Number of Units
18
Building SF
15,400
Land SF
17,947
Investment Overview

The Meridian @ 4902 67th Street is an 18 unit apartment complex that consists of 15,400 rentable SF situated on a 17,947 SF lot with 19 parking spaces. The unit mix consists of (1) 4 Bedroom / 2 Bath house built in the 1950s, (12) 2 Bedroom / 1 Bath units, and (5) 1 Bedroom / 1 Bath units built in different stages of the 1960s and renovated in 2017 as well as onsite laundry facilities with 3 washers and 2 dryers that are owned. There is a grass backyard with a shaded lounge area at the rear of the property. Previous ownership made significant exterior and systems upgrades. The majority of sewer lines and all water supply lines have been replaced. The property has new windows, and the units have faux wood flooring as well as new kitchens and bathrooms featuring stainless steel kitchen appliances, granite counter tops, and new cabinets, hardware and ceiling fans. The property has spacious floorplans and the units have A/C. The Meridian sits in the burgeoning Rolando Village Neighborhood near the College East District. PLEASE DO NOT WALK ON THE PROPERTY OR DISTURB TENANTS. PROPERTY IS SHOWN WITH AN ACCEPTED OFFER ONLY.

  • Majority Two Bedroom Units
  • 4 Bedroom House
  • Ample Off-Street Parking
Location Overview

The property is located where Montezuma Road and El Cajon Blvd meet in the College East District right by the Rolando Village Neighborhood. Rolando is a fully developed suburban community with homes, churches, businesses, parks, and schools. Rolando is a model suburb of San Diego. The exclusive suburban design of the Rolando Village area with its curved streets allows for the retention of its majority older single-family homes and is not an area inundated with apartment buildings. The area is just West of La Mesa and East of San Diego State University. Rolando has seen significant rent growth and an improvement in the tenant-base with college students, young professionals, and families residing there.

FOR MORE DETAILS CONTACT
Benn Vogelsang
Vice President
619-794-0381
Lic: 01883437
vogelsang@scc1031.com