Multifamily Property for Sale in San Diego, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: San Diego, CA 92126

Description

Marcus & Millichap is pleased to present Atlas 8 on Ivory Coast Drive, an eight-unit multifamily property located in the highly desirable Mira Mesa (92126) submarket of San Diego. Known for its strong residential appeal, proximity to major employment hubs, and convenient access to retail and transportation, Mira Mesa continues to experience consistent rental demand & long-term growth. The property features a diverse and well-balanced unit mix, consisting of four one-bedroom/one bathroom units, two two-bedroom/one-bathroom units, one two-bedroom/one-and-a-half-bathroom unit, and one three-bedroom/two-bathroom unit. This range of unit types allows the property to attract a broad tenant base, from individuals to larger households, supporting stable occupancy and long-term leasing flexibility. Conveniently located near major shopping centers, dining options, and everyday services, 8353 Ivory Coast Drive also benefits from close proximity to key employment corridors including Sorrento Valley, UTC, and Miramar. With easy access to major freeways, residents enjoy seamless connectivity throughout San Diego County. The property represents a compelling opportunity to acquire a well-positioned, income-producing asset in one of San Diego’s most established and high-demand rental markets. Investment Highlights: • Prime Mira Mesa Location (92126) near major employment hubs including Sorrento Valley, UTC, and Miramar • Eight-Unit Multifamily Asset with a diverse mix of one-, two-, and three-bedroom residences • Broad Renter Appeal accommodating a wide range of tenant profiles and household sizes • Strong Rental Demand Submarket supported by central location, employment access, and neighborhood amenities • Convenient Access to Retail & Transportation with proximity to shopping centers, dining, and major freeways

Market Context

This multifamily in San Diego, CA is listed for sale. It is offered at an approximate 4.5% 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 4.5% 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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