2912-2920 E 18th Street
Price
$1,800,000
Price Per Unit
$360,000
Price Per Square Foot
$400.62
CAP Rate
4.87%
Units
5 Units
Building Square Feet
4,493 SF
Lot Size
0.41 Acres
Year Built
1959/2023
APN
558-260-10-00
Property Description:
Situated in the heart of National City, this fully renovated 5-unit apartment building offers investors a turnkey asset in a high-demand submarket of San Diego County. Originally constructed in 1959 and extensively updated in 2023, the 4,493 SF property blends classic mid-century architecture with modern systems and interiors. Units have been thoughtfully upgraded to attract quality tenants while minimizing ongoing maintenance.
Positioned on a 0.41-acre lot, the property offers ample onsite parking, open space, and possible expansion or ADU development potential. Its low-density footprint, combined with a competitive price per unit and strong operating income, makes this a compelling opportunity for stabilized cash flow with future upside.
Market Overview:
National City is one of San Diego’s fastest-growing and most supply-constrained rental markets, fueled by its strategic location near major job centers including Downtown San Diego, the Naval Base, and the South Bay Industrial Corridor. The area continues to see rising rental rates and low vacancy due to ongoing infrastructure investment and strong demand from working professionals and families. Investors benefit from a favorable regulatory environment, access to public transit, and proximity to schools, parks, and essential retail services.
Listed By:
Aaron Bove
Senior Managing Director, Investments
aaron.bove@marcusmillichap.com
(858) 945-7094