Multifamily Property for Sale in San Diego, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: San Diego, CA 92115

Description

Marcus & Millichap is pleased to present The Molokai Apartments, a 39-unit multifamily community located at 5055 73rd Street in San Diego. Situated in the vibrant College East neighborhood, the property benefits from its prime location just off Interstate 8, providing convenient access to Downtown San Diego, San Diego State University, and a wide range of nearby retail and dining options, including College Plaza and the Aztec Shopping Center. The property features a well-balanced unit mix comprised of twenty-seven (27) one-bedroom/one-bathroom units, twelve (12) two-bedroom/two-bathroom units, and one (1) non-conforming studio unit, offering broad appeal to students, young professionals, and long-term residents. The apartment homes are designed with spacious layouts, including expansive living areas, oversized bedrooms, floor-to-ceiling windows for abundant natural light, private patios or balconies, and ample closet and storage space, enhancing overall livability and tenant retention. The Molokai Apartments offers a well-maintained, amenity-rich community environment, highlighted by a gated entry, landscaped courtyard, and a resort-style pool area. Additional features include on-site laundry facilities, assigned parking, and responsive on-site management, contributing to operational efficiency and resident satisfaction. The property is also pet-friendly, further expanding its renter appeal. Residents enjoy proximity to outdoor recreation, including Mission Trails Regional Park, Cowles Mountain, and Lake Murray, reinforcing the property’s strong lifestyle offering. With its strategic location, attractive unit mix, and desirable community amenities, The Molokai Apartments represents a compelling opportunity to acquire a stable, income-producing asset in one of San Diego’s most active and consistently performing rental submarkets. Investment Highlights: • Desirable mix of spacious one- and two-bed/two-bathroom units that average over 800 sq ft. • Prime College East l

Market Context

This multifamily in San Diego, CA is listed for sale. It is offered at an approximate 5.4% 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 5.4% 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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