Multifamily Property for Sale in San Diego, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: San Diego, CA 92103

Description

Presenting The Marquis at 1751 University Avenue, an exceptional 58-unit multifamily property located in the highly sought-after Hillcrest neighborhood of San Diego, California. Originally constructed in the 1920s, this well-maintained apartment complex sits on a 13,207-square-foot lot and offers approximately ±41,330 square feet and additionally a very large basement storage area. The property features a desirable unit mix, including (2) extra large penthouse units w/rooftop decks, (4) two-bedroom / two-bathroom units, (35) one-bedroom / one-bathroom units, and (9) studio apartments. Well maintained, a significant amount of upgrades have occurred over the years. Residents enjoy a variety of amenities such as gated access, a fully equipped fitness center, business center, additional storage, bicycle storage, in-unit fireplaces, and on-site laundry facilities. These offerings enhance tenant satisfaction and contribute to strong rental demand in the area. With current rents below market value and untapped renovation potential, this property represents a compelling value-add opportunity for investors aiming to modernize interiors and boost cash flow. Strategically positioned in Hillcrest, 1751 University Avenue benefits from exceptional walkability and access to the area’s top attractions. Just blocks away from iconic Balboa Park and with convenient access to the 163 freeway, the location ensures consistent tenant interest and long-term growth prospects. Investment Highlights: • Highly Sought-After Hillcrest Location • Historic 1920's Asset with Timeless Architectural Charm • Significant Upgrades Over The Years

Market Context

This multifamily in San Diego, CA is listed for sale. It is offered at an approximate 5.0% 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 5.0% 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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