3613-15 Central Ave — Sale in San Diego, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: San Diego, CA 92105

Investment Figures

Cap rate
3.11%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus and Millichap is pleased to present 3613-15 Central Avenue, a 2-unit apartment building located in the City Heights neighborhood of San Diego, CA. The property is comprised of one (1) two-bedroom / one-bathroom unit and one (1) two-bedroom / two-bathroom unit. The building also features one (1) unpermitted one-bedroom / one-bathroom unit. City Heights is known for its cultural diversity, locally owned businesses, and international cuisine. The residents are centrally located in San Diego near ground zero of City Heights new urban core. Residents enjoy quick access to El Cajon Boulevard and Interstate-15. 3613-15 Central Avenue is situated in a transit-oriented neighborhood with many public transportation options nearby. Located along major eastwest/north-south thoroughfares and transit hubs provides residents with ease of access to jobs, education, public facilities, parks and community recreation. The property boasts a walk score of 93 on walkscore.com’s 100-point scale and is considered “Very Walkable” as daily errands do not require a car and countless retailers, restaurants, and services are also nearby. 3613-15 Central Avenue is a compelling investment opportunity in a thriving neighborhood. Its prime location, vibrant community, and potential for significant value appreciation make it attractive to both renters and investors. This property offers a promising chance to invest in a flourishing market, with substantial returns possible through strategic enhancements and management. Investment Highlights: • Desirable unit mix comprised of two-bedroom units • ADU conversion potential with one (1) double car garage • Rare opportunity to acquire a value-add asset in a high barrier to entry market • Easy access to Tier-1 employment hubs of Mission Valley, and Downtown San Diego via Interstate-15 • Proximate transit hubs provide residents ease of access to jobs, education, public facilities, restaurants, vibrant nightlife, parks and community recreation

Market Context

This multifamily in San Diego, CA is listed for sale. It is offered at an approximate 3.1% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 100 days. Compare it against other multifamily listings for sale in San Diego, CA — view the full market.

As of Q1 2026, the San Diego multifamily market showed average asking rents near $1183.00/unit/mo, and cap rates around 8.0%. Source: multiple brokerage reports, Q1 2026.

Its 3.1% asking cap rate is below the San Diego multifamily market average of about 8.0%, reflecting premium pricing relative to comparable assets.

Multifamily market FAQ

What is the typical cap rate for multifamily in San Diego?
About 8.0% as of Q1 2026, per multiple brokerage reports.

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