5337 Meade Ave, Talmadge/San Diego Central, CA 92115

Property Description

5337-5347 Meade Ave: 6-unit multifamily property in San Diego's 92115 submarket. Two buildings totaling approx. 3,863 SF on a 9,200 SF (0.223 AC) lot, built 1955, two stories, frame/stucco construction with composition shingle gable roofs and open on-site parking. Interior courtyard layout with approx. 1,533 SF of land per unit and a two-building configuration offering flexibility for future repositioning. Located in a Qualified Opportunity Zone; zoned CUPD-CT-2-4. Close to Horace Mann Middle School, the University Ave and El Cajon Blvd commercial corridors, bus lines and approx. 1.9 miles to the SDSU Transit Center (Green Line). Offering memorandum estimates approx. $183,870 EGI and $115,536 NOI, an approx. 6.6% cap rate at the list price. Value-add upside through renovation-driven rent growth. Financial figures are offering memorandum estimates based on San Diego multifamily market conditions, not actual operating history. Building quality recorded as Class C, fair condition. Open parking on site; space count not verified. Tax record shows R-4 Multiple Residential and 9,726 SF lot; OM shows CUPD-CT-2-4 zoning and 9,200 SF. Buyer to verify all information.