2959-2981 54th Street

2959-2981 54th Street CA 92105: $3,525,000

Main

This beautifully refreshed 12-unit property presents a rare opportunity to acquire a pride-of-ownership asset with substantial income upside. Current rents offer immediate improvement potential, with just an 8.6% adjustment, investors can realize a meaningful increase in NOI while positioning the property for natural turnover to market rents. The 3-bedroom and 2-bedroom unit mix stands out in a market saturated with smaller one-bedroom and studio units, providing superior tenant demand and rent growth potential. Recent comparables have traded at similar price-per-unit metrics despite offering inferior layouts and limited income capacity, highlighting the value advantage of this asset. With its recent exterior painting, strong fundamentals, and attractive unit composition, this property is poised to become a top performer in any portfolio.

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HIGHLIGHTS

Key Benefits

Superior Unit Mix:

  • 8 × 2BR/1BA and 4 × 3BR/1BA = strong family-oriented mix.
  • Larger 3-bed units add rent diversity and reduce vacancy risk

Below-Market Rents = Immediate Upside:

  • Rent survey shows a potential 56% increase available in rent growth.
  • Investors can increase returns simply by aligning rents with market levels.
  • Current GRM 11.7 → Market GRM 10.77 reflects room for value growth.

Strong Income & Efficiency:

  • High Gross Scheduled Income: $327K (market).
  • Low operating expense ratio: ~36% of GSI.

Prime Central Location:

  • Close to freeways (I-15, I-805, I-94), Downtown, and SDSU.
  • Provides tenants with easy access to jobs and transit key for occupancy stability

Let’s Sell Your Property the Right Way.

With ACI Apartments, you don’t just get a listing — you get a full marketing machine across digital + traditional channels, with real data and proven results.

https://aciapartments.com/
Address: 7946 Ivanhoe Ave Suite 300B, La Jolla CA 92037

2959-2981 54th Street CA 92105

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