What is the average price per unit in City Heights, San Diego?
Apartment buildings in City Heights are typically selling between $180,000 and $300,000 per unit, depending on condition, unit size, and rental upside. Smaller value-add properties often trade on the lower end, while renovated or well-located assets command higher pricing.
What cap rates are apartment buildings trading at in City Heights?
Cap rates in City Heights generally range from 5.0% to 6.5%, with higher cap rates seen on properties with deferred maintenance or below-market rents. Stabilized, well-maintained properties tend to trade closer to the low 5% range.
Are apartment prices rising or falling in City Heights?
Apartment prices in City Heights have remained relatively stable, with continued demand from investors targeting value-add opportunities. While interest rates have impacted pricing slightly, strong rental demand continues to support property values.
Market Data
City Heights at a Glance
Price per Unit
$180K – $300K
Cap Rate
5.0% – 6.5%
Typical Deal Size
4 – 20 Units
Buyer Type
Value-Add Investors / 1031 Exchange Buyers
SOLD
4604 University Ave, City Heights
Commercial Asset
$1,138,000
1 Units · 250 DOM · Commercial Asset
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SOLD
4028 46th St, City Heights
Modern Construction | High-Cap
$1,165,000
4 Units · 0 DOM · 5.2% Cap Rate
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SOLD
4647 University Ave, City Heights
Income Property
$3,600,000
4 Units · 109 DOM · Income Property
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SOLD
3762 41st St, City Heights
Sold Above Asking
$925,000
4 Units · 18 DOM · Sold Above Asking
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SOLD
4647 University Ave, City Heights
First Time on Market | Redevelopment
$3,600,000
4 Units · 109 DOM · First Time on Market
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SOLD
3684 42nd St, City Heights
Represented Seller
$1,400,000
7 Units · 20 DOM · Income Property
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Market Insights
How investors are pricing apartments in City Heights
City Heights continues to attract investors due to its relative affordability compared to coastal and central San Diego neighborhoods, combined with strong rental demand. Most transactions are driven by buyers looking for value-add opportunities, particularly properties with below-market rents or deferred maintenance. Smaller buildings (4–10 units) often achieve higher price per unit due to accessibility for individual investors, while larger properties are typically evaluated more heavily on income and cap rate. Investors are increasingly focused on rent growth potential and repositioning strategies, rather than just in-place income.
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