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Fanklin Ave Duplex 3094 Franklin Ave

2 Unit Apartment Building $799,000 ($399,500/Unit) 5.16% Cap Rate San Diego, CA 92113

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Investment Highlights

$500,000 Price Improvement!
High End Interior Finishes (Quartz Countertops, LVP Flooring, Stainless Steel Appliances, Mini-Split A/C)
Low Maintenance

Two Fully Renovated Units - Move-In Ready
Corner Lot
High Demand Rental Market

Executive Summary

$50,000 price improvement! 3094 Franklin Ave in Logan Heights features two fully renovated 2-bedroom, 1-bathroom units, each showcasing high-end interior finishes such as quartz countertops, LVP flooring, stainless steel appliances, and mini-split air conditioning. Both units are unoccupied and move-in ready, offering flexibility whether you want to live in one and rent out the other or lease both in a high-demand rental market. Situated on a corner lot, this low-maintenance property is also an excellent option for an investor's first purchase.

Financial Summary (Pro forma - 2024)	Annual	Annual Per SF
Gross Rental Income	$56,400	$53.01
Other Income	-	-
Vacancy Loss	$1,692	$1.59
Effective Gross Income	$54,708	$51.42
Taxes	-	-
Operating Expenses	-	-
Total Expenses	$13,448	$12.64
Net Operating Income	$41,260	$38.78

Financial Summary (Pro forma - 2024)

Gross Rental Income
Annual	$56,400
Annual Per SF	$53.01

Other Income
Annual	-
Annual Per SF	-

Vacancy Loss
Annual	$1,692
Annual Per SF	$1.59

Effective Gross Income
Annual	$54,708
Annual Per SF	$51.42

Taxes
Annual	-
Annual Per SF	-

Operating Expenses
Annual	-
Annual Per SF	-

Total Expenses
Annual	$13,448
Annual Per SF	$12.64

Net Operating Income
Annual	$41,260
Annual Per SF	$38.78

Property Facts

Price	$799,000	Apartment Style	Low Rise
Price Per Unit	$399,500	Building Class	C
Sale Type	Investment	Lot Size	0.11 AC
Cap Rate	5.16%	Building Size	1,064 SF
Gross Rent Multiplier	14.6	No. Stories	1
No. Units	2	Year Built/Renovated	1950/2024
Property Type	Multifamily	Parking Ratio	3.76/1,000 SF
Property Subtype	Apartment	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Price	$799,000
Price Per Unit	$399,500
Sale Type	Investment
Cap Rate	5.16%
Gross Rent Multiplier	14.6
No. Units	2
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low Rise
Building Class	C
Lot Size	0.11 AC
Building Size	1,064 SF
No. Stories	1
Year Built/Renovated	1950/2024
Parking Ratio	3.76/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.