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1476-80 Pescadero Dr 6 Unit Apartment Building $6,750,000 ($1,125,000/Unit) 6.29% Cap Rate San Diego, CA 92107
INVESTMENT HIGHLIGHTS
- True oceanfront multifamily asset with unobstructed sit-down Pacific views
- Multiple income streams including strong VRBO performance and below-market MTM rentals
- Rare four-car garage offering secure onsite parking in a high-barrier coastal location
- Turn-key interiors renovated 2020–2025 with modern coastal finishes
- Significant upside potential through rent repositioning or expanded STR strategy
- Recent exterior upgrades including new garage doors and staircases (2025)
EXECUTIVE SUMMARY
Unobstructed true oceanfront multifamily asset located in San Diego’s highly coveted Sunset Cliffs corridor. This turn-key coastal property features a blend of upgraded primary rental residences and additional well-finished studio spaces, offering multiple operational strategies and excellent revenue diversity (buyer to verify use). Three spaces currently operate as high-performing short-term rentals exclusively through VRBO, producing strong year-over-year income with consistent occupancy, repeat guest traffic, and opportunities for further optimization. The remaining rental spaces are month-to-month, providing immediate upside through repositioning or conversion.
Recent renovations completed between 2020–2025—including modern interior upgrades, updated kitchens and baths, dual-pane windows, LVP flooring, improved exterior elements, and new garage doors and staircases—reduce near-term capital expenditure needs and support efficient ownership. The property’s commanding ~280° oceanfront view orientation enhances rental demand and long-term asset value. A four-car garage offers rare onsite parking in a coastal zone with limited availability.
With its combination of stable cash flow, flexible rental configuration, extensive renovations, and irreplaceable oceanfront frontage, this asset represents a high-quality investment opportunity in one of Southern California’s most supply-constrained and desirable multifamily submarkets.
Recent renovations completed between 2020–2025—including modern interior upgrades, updated kitchens and baths, dual-pane windows, LVP flooring, improved exterior elements, and new garage doors and staircases—reduce near-term capital expenditure needs and support efficient ownership. The property’s commanding ~280° oceanfront view orientation enhances rental demand and long-term asset value. A four-car garage offers rare onsite parking in a coastal zone with limited availability.
With its combination of stable cash flow, flexible rental configuration, extensive renovations, and irreplaceable oceanfront frontage, this asset represents a high-quality investment opportunity in one of Southern California’s most supply-constrained and desirable multifamily submarkets.
DATA ROOM Click Here to Access
- Offering Memorandum
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $6,750,000 | Apartment Style | Low-Rise |
| Price Per Unit | $1,125,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.12 AC |
| Cap Rate | 6.29% | Building Size | 4,334 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 14.78 | No. Stories | 2 |
| No. Units | 6 | Year Built/Renovated | 1958/2025 |
| Property Type | Multifamily | Parking Ratio | 0.92/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R-4 - Multi-Family | ||
| Price | $6,750,000 |
| Price Per Unit | $1,125,000 |
| Sale Type | Investment |
| Cap Rate | 6.29% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 14.78 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.12 AC |
| Building Size | 4,334 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1958/2025 |
| Parking Ratio | 0.92/1,000 SF |
| Zoning | R-4 - Multi-Family |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Storage Space
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Double Vanities
- Kitchen
- Refrigerator
- Stainless Steel Appliances
- Range
- Tub/Shower
- Views
- Carpet
- Wi-Fi
- Dining Room
- Double Pane Windows
- Family Room
- Linen Closet
- Patio
- Porch
- Window Coverings
- Large Bedrooms
SITE AMENITIES
- Fenced Lot
- Laundry Facilities
- Waterfront
- Gated
- Grill
- Recycling
- Wi-Fi
- Sundeck
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 4 | - | 750 - 1,100 |
| 1+1 | 2 | - | 350 |
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PROPERTY TAXES
| Parcel Number | 448-242-03 | Total Assessment | $220,589 (2025) |
| Land Assessment | $93,083 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $127,506 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
448-242-03
Land Assessment
$93,083 (2025)
Improvements Assessment
$127,506 (2025)
Total Assessment
$220,589 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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1476-80 Pescadero Dr
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