5055 73rd St

Pleased to present Molokai Apartments, a garden-style multifamily investment opportunity located at 5055 73rd Street in San Diego’s established College East neighborhood. The property comprises a desirable mix of one- and two-bedroom floor plans ranging from approximately 562 to 1,000 square feet with many of the 1 bedroom units running 750 square feet, along with an additional non-conforming studio unit that provides incremental income potential. Select units feature open-beam vaulted ceilings, floor to ceiling windows, and a separate den. Ground floor units have private fenced yards and upstairs units have balconies. The property is SB721 compliant and has had the electrical sub-panels replaced. This well-maintained community represents a rare infill scale offering in a supply-constrained rental market, combining stabilized income with clear upside through targeted improvements. Strategically positioned near San Diego State University with immediate access to Interstate 8, Molokai Apartments benefits from durable student and workforce housing demand that supports long-term rental growth. The property provides investors with in-place cash flow, RUBS implementation recovering over 65% of the monthly utilities, and a path to enhance returns through renovations, amenity upgrades, and operational efficiencies, making it a compelling value-add opportunity in one of San Diego’s proven multifamily corridors.