1478 Hornblend St 10 Unit Apartment Building $5,500,000 ($550,000/Unit) 5.12% Cap Rate San Diego, CA 92109

We are pleased to exclusively offer The Surf House, a newly reimagined 10-unit apartment community located at 1478 Hornblend Street in San Diego’s Pacific Beach neighborhood. Designed for today’s coastal renter, the property combines modern apartment finishes, extensive building-system upgrades, and a highly walkable beachside setting within one of San Diego’s most supply-constrained rental markets.
The asset was comprehensively rebuilt and delivered in June 2024 following a full permitted redevelopment through the City of San Diego. The renovation scope substantially modernized the property from both an operational and resident-experience standpoint, including upgraded electrical capacity, new plumbing, a centralized hot-water system, fire sprinklers, foundation improvements, roofing, windows, exterior finishes, gutters, and architectural steel staircases.
Inside the residences, The Surf House offers a polished coastal living environment with contemporary finishes and practical in-unit amenities. Units feature quartz countertops, custom-style cabinetry, designer tile accents, stainless-steel appliances, luxury vinyl plank flooring, in-unit laundry, individual split-system HVAC, and dedicated outdoor areas, including patios or rooftop decks. Select homes further benefit from scenic ocean and bay views, adding to the property’s lifestyle appeal.
Located just six blocks from the beach and within immediate reach of Garnet Avenue’s restaurants, shops, cafés, and nightlife, the property is well positioned to attract renters seeking both convenience and coastal access. With limited new multifamily inventory in Pacific Beach and strong demand for renovated, amenity-rich housing, The Surf House provides investors with a turnkey coastal asset supported by durable renter demand and long-term ownership fundamentals.