1732 5th Ave · San Diego, CA 92101

$2,490,000

99 bd · 7.0 ba · 4,624 sqft · MultiFamily public records · 37 Days on market

Built 1945

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +27.3/30.0
• DSCR +9.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• Appreciation +4.1/10.0
• Livability +3.8/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 10 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

pleased to present 1732 5th Avenue, a 10-unit apartment community located in the heart of Downtown San Diego. Originally constructed in 1938, the property features a unit mix of eight (8) studio units and two (2) one-bedroom / one-bath units, catering to a wide range of urban renters. The property is an extremely well-maintained vintage asset with long-term tenants currently paying below-market rents, presenting a compelling value-add opportunity through renovation and repositioning of units. Many units retain original finishes, offering investors the ability to modernize interiors and capture significant rental upside. 1732 5th Avenue offers a unique blend of historic charm and functional

Key facts

• Historic charm
• Roof replacement
• Functional layouts

Tags

• 10 UNIT APARTMENT COMMUNITY
• GATED COURTYARD SETTING
• ON SITE LAUNDRY FACILITIES
• ROOF REPLACEMENT
• HISTORIC CHARM
• FUNCTIONAL LAYOUTS

Property features AI

Exterior

• Utilities: Lot size reported in acres
• Home design: Residential income property (Commercial-Residential Income subtype)
• Construction: Approximately 4,624 total building area

Interior

• Bathrooms: 10 full bathrooms
• Interior features: Ten full bathrooms

What this means for you Summary

Snapshot

• This is a 10 × 2-bed/1.0-bath units multifamily listed at $2.49M.

Deal economics

• At list price, monthly cash flow is $7k ($87k/yr) — positive. Per door: $724/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($29k rent vs $2.49M).
• Recommended offer: $2.42M (3.0% below list) — sets the bar for market timing.
• Cap rate 9.8% vs local median 2.0% in San Diego — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 75/100 on livability (#123 in CA, #4,206 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: health & safety C-, crime D+, cost of living F.
• San Diego Unified (urban): math 19% / reading 29% proficiency, ranked #393 of 517 in CA (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents flat; 515 active listings in the ZIP; solid renter incomes; 11,759 units permitted in San Diego County in 2024 (7,244 in 5+ unit buildings).
• At $28,714/mo this rent would consume 376% of the median local household income ($92k/yr) (locally 5603% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-1.8%/yr); year-one equity from $17k of loan paydown is wiped out by about $45k of value loss. Plan a longer hold.
• San Diego County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-1.8% appreciation + 0.3% rent growth), your $697k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($2.42M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $1.20M; list at $2.49M implies a 108% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $2,415,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.15% ✓
• Cap rate: 9.78%
• Cash-on-cash: 12.45%
• DSCR: 1.55
• GRM: 7.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-1.82% appreciation · 0.35% rent growth · sell at horizon

5-year hold

• IRR: 3.8%
• Equity multiple: 1.15×
• Total profit: $107,856
• Equity at exit: $505,061

10-year hold

• IRR: 9.1%
• Equity multiple: 1.73×
• Total profit: $507,646
• Equity at exit: $452,265

Cash invested: $697,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 92101

• Home prices YoY: -0.8%
• Rents YoY: 0.3%
• Active inventory: 515
• Price-to-rent: 72.3×

Monthly cashflow live

• Estimated rent: $28,714 high
• Mortgage (P&I): −$13,058
• Tax from tax record: −$1,354 /mo · $16,242/yr
• Insurance: −$1,038
• HOA: −$0
• Vacancy / Maint / Mgmt: −$6,030
• Net cashflow: $7,235

Break-even live

Break-even rent $19,556

Max offer price $2,490,000

Occupancy floor 70%

10-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 10× units	2	1	$28,710
Total (10 units)			$28,714

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $622,500
• Closing costs: $74,700
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $2,490,000 Active 37 DOM
2. 2026-06-17
   days on market $2,490,000 Active 36 DOM
3. 2026-06-16
   days on market $2,490,000 Active 35 DOM
4. 2026-06-15
   days on market $2,490,000 Active 34 DOM
5. 2026-06-13
   days on market $2,490,000 Active 32 DOM
6. 2026-06-09
   days on market $2,490,000 Active 28 DOM
7. 2026-06-08
   days on market $2,490,000 Active 27 DOM
8. 2026-06-07
   days on market $2,490,000 Active 26 DOM
9. 2026-06-04
   days on market $2,490,000 Active 23 DOM
10. 2026-06-03
    days on market $2,490,000 Active 22 DOM
11. 2026-06-02
    days on market $2,490,000 Active 21 DOM
12. 2026-06-01
    days on market $2,490,000 Active 20 DOM
13. 2026-05-31
    days on market $2,490,000 Active 19 DOM
14. 2026-05-12
    listed $2,490,000 Active
15. 2023-11-17
    historical $1,495
16. 2023-10-29
    listed $1,495
17. 2004-08-20
    soldstatus $1,200,000
18. 2002-12-13
    soldstatus $1,000,000
19. 1996-10-25
    soldstatus $337,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $16,242 · $1,354/mo
• Projected year-2 tax: $18,924 · $1,577/mo
• Expected delta: +$2,682/yr (+$223/mo · 16.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥84°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $344,568
• − Mortgage interest: −$139,479
• − Property taxes: −$16,242
• − Insurance: −$12,450
• − Repairs & maintenance: −$27,565
• − Management: −$27,565
• − Depreciation: −$72,436
• Taxable income: $48,830
• Est. tax owed @ 24.0%: −$11,719
• After-tax cash flow: $75,103/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: San Diego Unified
• NCES district ID: 0634320
• Math proficiency: 19% ▼ -29.00%
• Reading proficiency: 29% ▼ -28.00%
• Median HH income: $61,673
• Composite: 22.31/100
• National rank: #8135
• State rank: #393 of 517 in CA

Livability — San Diego

• Score: 75/100
• State rank: #123
• US rank: #4206

Category grades

Amenities A+ Commute A+ Cost of living F Crime D+ Employment A+ Housing C+ Health & safety C- User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Diego, CA
• County: San Diego County · 3,178,799 people
• City population: 1,397,612
• Metro: San Diego-Chula Vista-Carlsbad, CA
• Population (ZIP): 51,805
• Household income: $91,566
• Rent vs Own: 77.4% rent · 22.6% own
• Severe rent burden: 5603.0

Population outlook (San Diego County) Hauer SSP2

• Today (2025): 3,678,185 people
• By 2030: 3,856,546 · +4.8%
• By 2040: 4,171,407 · +13.4%
• By 2050: 4,421,607 · +20.2%
• By 2075: 4,831,599 · +31.4%
• By 2100: 4,832,502 · +31.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 54% Hispanic / Latino 24% Two or more races 12% Asian 10% Black 8%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Romanian 3% Lithuanian 2% Italian 2%
• Foreign-born: 19% · Canada, China, Vietnam
• Languages at home: 74% English-only · Spanish 15% Other Indo-European 3% Other Asian/Pacific 1%

Political lean MEDSL · San Diego

• 2024 margin: D (+16.8) · D 56.9% · R 40.1% · Other 2.9%
• 2008→2024 swing: +6.6pp toward D · 2008: 10.2pp · 2024: 16.8pp
• All cycles: 2024: D+16.8 2020: D+22.8 2016: D+17.8 2012: D+5.1 2008: D+10.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -1.82%
• Current HPI: 224.0762
• Rent YoY: ▲ 0.35%
• Metro: San Diego-Chula Vista-Carlsbad, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+638.9% since first listed

6 events — show timeline

• 2026-05-12 Listed $2,490,000 SDMLS
• 2023-11-17 Rental Removed $1,495 APPFOLIO
• 2023-10-29 Listed for Rent $1,495 APPFOLIO
• 2004-08-20 Sold (Public Records) $1,200,000 Public Records
• 2002-12-13 Sold (Public Records) $1,000,000 Public Records
• 1996-10-25 Sold (Public Records) $337,000 Public Records

Property tax history

+0.9%/yr

Latest (2025): $16,242 · +3.9% YoY. Source: county tax records.