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$ 6,000,000
Est. payment /mo
New
5049 Cape May Ave San Diego, CA 92107
18 Beds
3 Baths
9,458 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Com-Res Income
Listing Status Active
Purchase Type For Sale
Square Footage 9,458 sqft
Price per Sqft $634
MLS Listing ID 260009653
Bedrooms 18
Full Baths 18
Lot Size 10,633 Sqft
Property Sub-Type Com-Res Income
Property Description
The Palms on Cape May is a 12-unit coastal apartment community located one block from the Pacific Ocean in San Diego's highly sought-after Ocean Beach submarket. The property offers investors a rare opportunity to acquire a well-located asset with spacious units, strong in-place income, and meaningful rental upside through interior improvements. The property has been well maintained and provides investors with stable in-place income along with potential rental upside through strategic interior upgrades. With spacious units and strong tenant demand for beach-adjacent housing, the property is well positioned for continued long-term performance. Residents benefit from 17 on-site parking spaces, including five tandem spaces in the front of the property and seven single spaces in the rear, a valuable amenity in this highly walkable coastal neighborhood where parking is often limited. Located just steps from Newport Avenue, tenants enjoy walkable access to Ocean Beach's vibrant mix of restaurants, cafés, retail shops, and neighborhood amenities. The Palms on Cape May presents a rare opportunity to acquire a well-located multifamily asset in one of San Diego's most sought-after beach communities.
Location
State CA
County San Diego
Community Other/Remarks
Area Coastal South
Interior
Fireplace No
Exterior
View Y/N No
Total Parking Spaces 17
Building
Story 2
Others
Senior Community No
Tax ID 4481014100
Special Listing Condition Other/Remarks
Listed by Dylan E Wright, DRE#01411216 MD Real Estate, Inc
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