1877 Irving St, San Diego, CA 92113

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Investment Opportunity: 

5 Unit Multifamily Property in the highly desirable area of San Diego

Introducing a rare and highly desirable investment opportunity — a newly constructed 5-unit multifamily property in the heart of San Diego, ideally situated near Balboa Park, with walkable access to Downtown, vibrant nightlife, dining, and major retail corridors. This trophy asset offers investors the unique combination of brand-new construction, energy efficiency, prime location, and future rental upside. There will be a TOTAL OF 6 PARKING SPACES.

Designed for modern urban living, the property is comprised of two detached buildings: one featuring (2) spacious two-bedroom/one-bath units and the other offering (3) thoughtfully designed two story, loft style one-bedroom/one-bath units. Each unit includes in-unit washers and dryers, high-quality finishes, and open layouts that appeal to today’s tenants.

Built from the ground up, this low-maintenance property features owned solar panels, not leased, further reducing operating expenses and increasing net operating income. With modern construction, investors benefit from lower repair and capital expenditure costs compared to older buildings — a significant advantage in California’s tightly regulated maintenance environment.

Positioned just off the I-5 freeway and facing the iconic Coronado Bridge, the property offers unparalleled accessibility to Coronado Island, the Gaslamp Quarter, and the greater Downtown San Diego business district. Tenants enjoy walkable proximity to cultural attractions, shopping, dining, and entertainment — all within one of San Diego’s most desirable rental corridors.

This five-unit multifamily property offers strong income potential, professional-grade scalability, and a solid foundation for portfolio growth. Investors benefit from economies of scale, consistent tenant demand, and significant upside through rent adjustments, all in a market known for its limited housing supply and long-term appreciation. 

This is a turnkey, future-proof asset in a high-growth urban core, ideal for investors seeking a premium San Diego multifamily asset with minimal maintenance and meaningful value-add potential.

VKREA Commercial is proud to exclusively present 1023 Delaware Street and 1744 10th Street — a 10-unit multifamily portfolio located in the highly sought-after West Berkeley neighborhood. 

This rare opportunity offers long-term appreciation potential in one of Northern California’s most dynamic rental markets. This deal includes two separate parcels with distinct addresses, both located on the same property and being sold together as part of a single transaction.

Built in 1943, these two properties comprise a mix of four buildings with spacious units, including nine one-bedroom/one-bath units and one two-bedroom/one-bath unit, totaling approximately 6,365 rentable square feet. This property is situated on a prominent 10,500-square-foot corner lot and features key amenities including spacious garages for parking or storage. The expansive backyard also offers potential for an Accessory Dwelling Unit (ADU), providing an opportunity for additional rental income. The current owners charge for 3 parking spaces. There are a total of 10 parking spaces that can also provide an opportunity for additional income. There is dedicated laundry for two units in their respective garage space. The rest of the units do not have on-site laundry. 

The neighborhood is quiet and well maintained. This property is close to many attractions such as Fourth Street Shops, Berkeley Marina, UC Berkeley, Berkeley Bowl, Bart, and I-80 and I-580 freeways.