4912 Muir Ave 5 Unit Apartment Building $2,850,000 ($570,000/Unit) 4.37% Cap Rate San Diego, CA 92107

CBRE is pleased to present 4912 Muir Avenue, a fully remodeled 5-unit multifamily property located in the heart of San Diego’s highly desirable Ocean Beach neighborhood. Positioned on a quiet residential street just minutes from the coastline, this turnkey asset offers investors a rare opportunity to acquire a modernized property in one of the city’s most supply-constrained and lifestyle-driven coastal rental markets. Two of the leases (Units 2 and 4) are significantly under market of their mirror image sister units and capitalizing on this discrepancy would yield a great 5.3% cap rate with no further work. Current average rents are $3,200. Please reach The Brennan Group for more details!
The property consists of five (5) two-bedroom / one-and-a-half-bath units, each averaging approximately 995 square feet, offering larger-than-average layouts that are increasingly scarce in Ocean Beach. Units have been extensively renovated with contemporary, high-end finishes, including modern kitchens, updated bathrooms, new flooring, and in-unit laundry (except for units 2 & 4), creating a cohesive, design-forward asset positioned to command premium coastal rents.
Situated on a 5,198 SF lot with approximately 4,976 rentable square feet, the property was originally built in 1972 and has since been comprehensively repositioned to meet current renter expectations. The functional unit layouts, modern interiors, and strong unit uniformity support operational efficiency, tenant retention, and long-term income stability.