Multifamily Property for Sale in San Diego, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: San Diego, CA 92102

Description

We are pleased to present 918 27th Street, an advantageous three-lot assembly in San Diego’s vibrant Golden Hill neighborhood, offering a blend of immediate income and substantial redevelopment potential. This property distinctively features six revenue-generating duplex units: three (3) onebedroom/one-bathroom units (500 SF each) and three (3) two-bedroom/one-bathroom units (600 SF each). The units, a mix of long-term leases and furnished short-term rentals, provide consistent cash flow for investors. Located in a Qualified Opportunity Zone (QOZ) with RM 2-5 zoning, an SDA overlay, and Tier 3 Complete Communities designation, the site supports a 6.5 FAR, enabling up to 113,951 square feet of buildable space, potentially yielding a 125+ unit development. With historical clearances already secured, the lot’s elevated position offers sweeping views of the San Diego skyline and Coronado Bridge, enhancing its allure for future residents. Golden Hill’s lively urban fabric, with a Walk Score of 86, places tenants within steps of eclectic experiential dining spots like Turf Supper Club and Counterpoint, boutique shops, and cultural hubs like the San Diego Museum of Art and the Golden Hill Fountain Grotto, Balboa Park’s oldest design feature. Quick access to Downtown, North Park, Hillcrest, and major freeways (I-5, I-94) ensures seamless connectivity and convenience from this central location. This property presents a noteworthy opportunity to acquire a cash-flowing asset with transformative growth potential in one of San Diego’s most dynamic markets. Investment Highlights: • Robust Development Potential: Zoned for up to 125+ units with a 6.5 FAR (~113,951 SF) spread across multiple parcels. • Immediate Income: Six units (3 long-term, 3 short-term rentals) that can deliver revenue during planning or entitlement stages. • Diverse Unit Offerings: comprised of three duplexes with one- and two-bedroom units. • Property has cleared historical review.

Market Context

This multifamily in San Diego, CA is listed for sale. It is offered at an approximate 2.4% 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 2.4% 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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