322 S Pardee St | 322 S Pardee St
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322 S Pardee St 322 S Pardee St
5 Unit Apartment Building $1,750,000 ($350,000/Unit) 4.50% Cap Rate San Diego, CA 92113
Investment Highlights
- New Construction 1Bed/1bath's and Renovated 2Bed/1bath Front House
- Modern appliances like central HVAC, in-unit washers and dryers, stainless steel kitchen appliances
- Exempt from AB 1482 rent control for the next 15 years
- High-yielding investment property and low maintenance
Executive Summary
JLM is proud to present 322 S Pardee St, a unique opportunity to own an extremely low maintenance high-yielding 5-unit investment property in the Mountain View submarket. This property features four (4) brand new construction 1bed/1bath apartments and a meticulously renovated 2bed/1bath front house. The newly constructed units are exempt from AB 1482 rent control restrictions for the next 15 years. Each unit is equipped with modern conveniences like central HVAC, in-unit washers and dryers, luxury vinyl flooring, and stainless steel appliances, catering to today’s renters who value comfort and efficiency. Each of the four 1bed/1bath units are
identical 490 square-foot floor pans while the front house consists of a spacious 760 square foot layout with a private yard and tandem parking. The property is conveniently located in south central San Diego, with easy access to the Interstate 15 freeway, and just a 10 minute commute to downtown. Residents enjoy ample recreational spaces like the 11-acre Mountain View Park, Willie Henderson Sports Complex, and the Mountain View/Beckwourth Branch Library, offering community programs for all ages. This area provides a balanced mix of accessibility and neighborhood charm
identical 490 square-foot floor pans while the front house consists of a spacious 760 square foot layout with a private yard and tandem parking. The property is conveniently located in south central San Diego, with easy access to the Interstate 15 freeway, and just a 10 minute commute to downtown. Residents enjoy ample recreational spaces like the 11-acre Mountain View Park, Willie Henderson Sports Complex, and the Mountain View/Beckwourth Branch Library, offering community programs for all ages. This area provides a balanced mix of accessibility and neighborhood charm
Financial Summary (Pro forma - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$128,700
|
$47.28
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$3,861
|
$1.42
|
| Effective Gross Income |
$124,839
|
$45.86
|
| Taxes |
$21,350
|
$7.84
|
| Operating Expenses |
$16,536
|
$6.07
|
| Total Expenses |
$37,886
|
$13.92
|
| Net Operating Income |
$86,953
|
$31.94
|
Financial Summary (Pro forma - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $128,700 |
| Annual Per SF | $47.28 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $3,861 |
| Annual Per SF | $1.42 |
| Effective Gross Income | |
|---|---|
| Annual | $124,839 |
| Annual Per SF | $45.86 |
| Taxes | |
|---|---|
| Annual | $21,350 |
| Annual Per SF | $7.84 |
| Operating Expenses | |
|---|---|
| Annual | $16,536 |
| Annual Per SF | $6.07 |
| Total Expenses | |
|---|---|
| Annual | $37,886 |
| Annual Per SF | $13.92 |
| Net Operating Income | |
|---|---|
| Annual | $86,953 |
| Annual Per SF | $31.94 |
Property Facts
| Price | $1,750,000 | Apartment Style | Townhome |
| Price Per Unit | $350,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 4.50% | Building Size | 2,722 SF |
| Gross Rent Multiplier | 14.5 | No. Stories | 2 |
| No. Units | 5 | Year Built | 2021 |
| Property Type | Multifamily | Parking Ratio | 1.47/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $1,750,000 |
| Price Per Unit | $350,000 |
| Sale Type | Investment |
| Cap Rate | 4.50% |
| Gross Rent Multiplier | 14.5 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 2,722 SF |
| No. Stories | 2 |
| Year Built | 2021 |
| Parking Ratio | 1.47/1,000 SF |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | $2,400 | - |
| 1+1 | 4 | $1,800 | - |
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zoning
| Zoning Code | 20 |
| 20 |
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322 S Pardee St | 322 S Pardee St
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