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Westwind Apartments 4935 Niagara Ave 24 Unit Apartment Building $10,200,000 ($425,000/Unit) 3.81% Cap Rate San Diego, CA 92107
Investment Highlights
- Gated Courtyard Community
- Oversized Units
- Good Parking Ratio
Executive Summary
South Coast Commercial is pleased to present Westwind, a 24-unit multifamily investment located in
the highly desirable Ocean Beach neighborhood of San Diego. Comprised of one and two bedroom
units, the property is situated within a well-maintained two-story community and offers stable in-place
occupancy supported by consistently strong demand for coastal housing in one of San Diego’s most
supply-constrained submarkets.
Situated just blocks from the Pacific Coast, Westwind benefits from walkable access to Newport
Avenue’s vibrant mix of cafes, restaurants, bars, and boutique retail, along with immediate proximity to
the beach and surrounding recreational amenities. With current rents below market levels across the
majority of units, this offering presents an attractive opportunity for investors seeking stable coastal
cash flow with meaningful upside through continued rent growth.
the highly desirable Ocean Beach neighborhood of San Diego. Comprised of one and two bedroom
units, the property is situated within a well-maintained two-story community and offers stable in-place
occupancy supported by consistently strong demand for coastal housing in one of San Diego’s most
supply-constrained submarkets.
Situated just blocks from the Pacific Coast, Westwind benefits from walkable access to Newport
Avenue’s vibrant mix of cafes, restaurants, bars, and boutique retail, along with immediate proximity to
the beach and surrounding recreational amenities. With current rents below market levels across the
majority of units, this offering presents an attractive opportunity for investors seeking stable coastal
cash flow with meaningful upside through continued rent growth.
Property Facts
| Price | $10,200,000 | Apartment Style | Low-Rise |
| Price Per Unit | $425,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.40 AC |
| Cap Rate | 3.81% | Building Size | 17,501 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 16 | No. Stories | 2 |
| No. Units | 24 | Year Built | 1972 |
| Property Type | Multifamily | Parking Ratio | 1.37/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | RM-2-4 | ||
| Price | $10,200,000 |
| Price Per Unit | $425,000 |
| Sale Type | Investment |
| Cap Rate | 3.81% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 16 |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.40 AC |
| Building Size | 17,501 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1972 |
| Parking Ratio | 1.37/1,000 SF |
| Zoning | RM-2-4 |
Amenities
Unit Amenities
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Range
Site Amenities
- Courtyard
- Laundry Facilities
- Pool
- Grill
- Recycling
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | $3,000 | 925 |
| 1+1 | 20 | $2,500 | 690 - 725 |
1 1
Very walkable
80/100
Very drivable
80/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 448-181-36 | Improvements Assessment | $1,269,070 |
| Land Assessment | $1,085,536 | Total Assessment | $2,354,606 |
Property Taxes
Parcel Number
448-181-36
Land Assessment
$1,085,536
Improvements Assessment
$1,269,070
Total Assessment
$2,354,606
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Westwind Apartments | 4935 Niagara Ave
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