4781-4787 Cereza Street
Price
$4,550,000
Price Per Unit
$413,636
Price Per Square Foot
$542.96
CAP Rate
5.43%
Units
11 Units
Building Square Feet
8,380 SF
Lot Size
0.23 Acres
Year Built
2023/2025
APN
547-323-05-00
Property Description:
Located in the vibrant Lincoln Park neighborhood of San Diego, Cereza Apartments is a brand-new 11-unit multifamily community offering investors the rare opportunity to acquire a stabilized, newly constructed asset in one of the city’s most rapidly evolving rental corridors. Completed in 2023, the 8,380 SF building is perched on a 10,085 SF lot, elevated above the street and offering panoramic views from private balconies. The unit mix includes (3) 1BD/1BA, (4) 2BD/1BA, and (4) 2BD/2BA apartments—five of which are furnished, catering to both long term and short-term leasing strategies.
Designed with both form and function in mind, the residences feature hardwood-style flooring, mini-split HVAC systems, walk-in closets (in select units), and in-unit laundry. The gated community offers secured entry, designated parking, and a smoke- and vapor-free environment, enhancing tenant quality of life and long-term asset protection. As brand new construction, Cereza is fully exempt from California’s rent control law (AB-1482) and offers a highly favorable depreciation schedule, making it a smart, tax-advantaged investment. With zero deferred maintenance and strong in-place income, this is an ideal opportunity for investors seeking hands-off, yield-generating real estate in a high-demand submarket.
Listed By:
Aaron Bove
Senior Managing Director, Investments
aaron@marcusmillichap.com
(858) 945-7094
Jared Wallach
Associate Director Investment
jared.wallach@marcusmillichap.com
(424) 205-3800