4930 Santa Monica Ave, San Diego, CA for sale

Investment Overview

4930 Santa Monica Avenue is a rare opportunity to acquire a stabilized, cash flowing 8 unit apartment asset in one of San Diego's most supply constrained coastal submarkets. The excellent unit mix of seven 2 bed/ 1bath units and one 1 bed/ 1 bath, all larger than the norm for Ocean Beach, supports strong tenant retention and pricing power over time. The property is currently generating ~ $271,200 in gross income at a 4.98% cap rate, with rents still trailing market by roughly $6,600 annually, offering a low risk, no heavy lift path to a 5.16% cap rate and improved NOI. Recently updated exterior paint, gated access and a shared courtyard round out an asset that requires minimal near term capital. Location is ideal for premium rents, sitting just one block from the beach and one block from the Newport Avenue dining and entertainment corridor, with Ocean Beach Elementary two blocks away and quick connectivity to Downtown San Diego and San Diego International Airport. For an investor seeking durable income backed by irreplaceable dirt, this is a compelling, low volatility hold.

Investment Highlights

• Excellent unit mix of seven 2 bed/ 1bath units (~890) and one 1 bed/ 1 bath (~740)
• One block from the Ocean and one block to the Newport Avenue Corridor
• Strong 4.98% cap rate with a premium yield to recent comps
• Priced at $495/SF, approximately 13% below the recent comp average of $569/SF
• Updated units, newer windows, new modern exterior paint
• Premier coastal location provides durable renter demand and long-term appreciation potential