Property Detail

Description

PRICE REDUCED! Bring all offers! We are pleased to present Sundance Apartments, a 9-unit multifamily property in San Diego’s desirable and highly walkable University Heights neighborhood, located just 1.5 blocks from Adams Avenue. Built in 1972, the gated property features (6) 1BR/1BA and (3) 2BR/1BA units, select private patios/balconies, common area patio area with mature landscaping, on-site laundry, and 9 off-street parking spaces. Well-maintained with stable in-place income (5.12% current cap rate), the asset offers value-add upside through renovations or operational NOI improvements. All new unit electric subpanels were completed in 2025. One 2BR unit is currently for lease, providing an immediate renovation/lease-up opportunity. Ideally located just 1.5 blocks south from Adams Avenue—home to vibrant dining, retail, and entertainment—the property benefits from strong tenant demand and excellent proximity to major freeways and neighborhood amenities.