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$ 5,650,000
Est. payment /mo
New
4578 Jicarillo Ave San Diego, CA 92117
15 Beds
14 Baths
6,616 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Com-Res Income
Listing Status Active
Purchase Type For Sale
Square Footage 6,616 sqft
Price per Sqft $853
MLS Listing ID 260012823
Bedrooms 15
Full Baths 14
Property Sub-Type Com-Res Income
Property Description
We are pleased to present 4578 Jicarillo Ave, a newly constructed, fully stabilized 13-unit multifamily asset positioned along the canyon edge in the highly sought-after Bay Ho submarket of central San Diego. Completed in 2025 and delivered fully leased, the Property offers contemporary design, serene natural surroundings, and immediate income in one of San Diego's most supply-constrained coastal neighborhoods. The community features sweeping westerly canyon views, an omnipresent coastal breeze, and picturesque vistas of Mt. Soledad – a setting virtually impossible to replicate in today's entitlement environment. All 12 one-bedroom apartments are exempt from California's AB 1482 rent control provisions for 15 years from completion, providing flexibility for future rent growth. Property consists of 12 one-bed/1-bath residences at 441 SF and a renovated 3-bed/2-bath single-family home at 1,324 SF – a rare configuration combining multifamily scale with standalone residential value on a 13,600 SF lot. Units feature 10-foot ceilings, quartz waterfall countertops, stainless steel appliances, in-unit washer/dryer, split-system HVAC, and private outdoor space. Current gross income totals $36,335/month ($436,020 annualized), pro forma of $37,700/month ($452,400 annualized) at market rents. Property is offered at $5,650,000, representing a 5.27% current cap rate (5.65% pro forma) and $434,615/unit. Contact listing broker for OM and financials.
Location
State CA
County San Diego
Area Metro
Interior
Cooling Wall/Window
Fireplace No
Exterior
View Y/N No
Building
Dwelling Type Apartment
Story 2
Others
Senior Community No
Tax ID 359-331-05-00
Listed by Andrew T Kaiser, DRE#02016818 Newmark of Southern California