3580 Hatteras Ave 5 Unit Apartment Building $2,950,000 ($590,000/Unit) 5.25% Cap Rate San Diego, CA 92117

3580 Hatteras Avenue is a premier five-unit multifamily asset that is the quintessential intersection of location, luxury, and long-term profitability. Completed in June 2025 and fully stabilized with one-year leases, this rare turnkey property is perfectly positioned to deliver immediate cash flow and powerful appreciation in one of Southern California’s most resilient and desirable rental markets.

This striking property offers an appealing unit mix, making it an attractive option for a broad spectrum of renters. A charming two-bedroom house with an attached garage is rented at $3,200 per month. Then, four newly constructed, contemporary two-bedroom, two-bath apartments, with two units rented at $2,900 and two leased at $2,857 per month. All leases were signed as of June 1 and correlate to a gross scheduled income of $14,714 per month ($176,568 annually).

Crafted with modern design sensibility and tenant comfort in mind, the four brand-new apartments deliver the premium living experience today’s renters demand. Featuring luxury finishes, in-unit laundry, and efficient layouts, 3580 Hatteras Avenue attracts high-income tenants with long-term rental stability.

Located just minutes from La Jolla, Pacific Beach, and the iconic San Diego coastline, this asset offers the very lifestyle that drives rental demand through the roof. A quick drive from the beaches, world-class dining, and dynamic nightlife, this property represents the epitome of Southern California living.

Better still, it’s within a 10-minute radius of the University of California, San Diego (UCSD), a significant economic engine and one of the top public research universities in the nation. That makes 3580 Hatteras Avenue a magnet for student renters, graduate researchers, and university employees alike. With UCSD’s projected enrollment growth and housing shortfall, proximity to campus is not just a convenience; it’s a competitive edge.

San Diego continues to outperform peer cities with robust job growth, consistent rental demand, and an ongoing housing shortage. Over the next five years, rent growth is projected to increase by 4.2% annually, bolstered by tech and biotech sector expansion, the city’s burgeoning life sciences industry, ongoing limited multifamily supply near the coast, and ever-increasing demand from remote and hybrid workers seeking lifestyle-centric locations.

As of quarter two, 2025, San Diego’s vacancy rates remain below 4%, and rent premiums are climbing in coastal neighborhoods, particularly in submarkets that combine walkability, campus proximity, and beach access. This property checks all those boxes.

In an era where investment-grade multifamily assets are increasingly hard to find, this five-unit gem stands alone: stabilized, strategically located, and poised for long-term value growth. Whether a prospective buyer is looking to 1031 Exchange into a rock-solid performer or expand a San Diego portfolio with a best-in-class asset, this is the kind of acquisition seasoned investors dream about but rarely find. Own the next generation of coastal multifamily at 3580 Hatteras Avenue.