Multifamily Property for Sale in San Diego, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: San Diego, CA 92109

Description

Marcus & Millichap is pleased to present 1420-1422 Pacific Beach Drive, a boutique townhome-style multifamily community ideally located in the heart of Pacific Beach, one of San Diego’s highly coveted coastal rental markets. Nestled near Mission Bay and just minutes from the beach, the property offers residents a premier coastal lifestyle with convenient access to dining, retail, and outdoor recreation. The property consists of eight spacious three-bedroom townhome residences, featuring a mix of three-bedroom/two-and-a-half-bathroom and three-bedroom/three-bathroom layouts. These highly sought after larger-format units are highly desirable and cater to a wide range of tenants, including professionals and families. The townhome-style design enhances privacy and livability, supporting strong occupancy and long-term rental stability. In addition to its strong in-place fundamentals, the property presents a unique value-enhancement opportunity through commercial condominium mapping, allowing a future owner to potentially subdivide the asset into individual units for separate resale. This strategy provides flexibility to partition the property into smaller, more marketable investments, often achieving a higher aggregate value compared to a traditional bulk sale. Located along the well known Pacific Beach Drive, the property provides immediate access to Mission Bay, the Pacific Ocean, and the vibrant Pacifi c Beach commercial corridor, known for its restaurants, cafés, nightlife, and recreational amenities. With close proximity to major employment hubs and easy access to key transportation routes, 1420 Pacific Beach Drive represents a compelling opportunity to acquire a well-positioned, income producing coastal asset with both stable cash fl ow and a unique upside potential. Investment Highlights: • Eight-Unit Townhome Community comprised entirely of spacious three-bedroom residences with direct-access garages. • Prime Pacific Beach/Sail Bay Location near a plethora of pr

Market Context

This multifamily in San Diego, CA is listed for sale. It is offered at an approximate 4.2% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 68 days. Compare it against other multifamily listings for sale in San Diego, CA — <a href="/search/sale/multifamily/california/san-diego">view the full market</a>.

As of Q1 2026, the San Diego multifamily market showed average asking rents near $1183.00/unit/mo, and cap rates around 8.0%. Source: Consensus Q1 2026 market report.

Its 4.2% asking cap rate is below the San Diego multifamily market average of about 8.0%, reflecting premium pricing relative to comparable assets.

Multifamily market FAQ

What is the typical cap rate for multifamily in San Diego?
About 8.0% as of Q1 2026, per Consensus.

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