Point Thirty — Sale in San Diego, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: San Diego, CA 92106

Photos

Point Thirty — Sale in San Diego, CA, photo 1 of 2
Point Thirty — Sale in San Diego, CA, photo 2 of 2

Investment Figures

Cap rate
3.39%

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 & Millichap is proud to present Point Thirty at 3034–3042 Newell Street, a turnkey five-unit multifamily investment opportunity ideally situated in the highly desirable Point Loma neighborhood of San Diego, California. Originally constructed in 1953 and reimagined through a comprehensive 2024 renovation, Point Thirty is positioned on an approximately 0.12-acre lot and offers ±3,197 rentable square feet of elevated living space. Point Thirty carries the character that has long defined Old Point Loma: historic, graceful architecture, a peninsula setting that has never lost its pull, and a lifestyle shaped by the bay just beyond the block. The top-to-bottom renovation honors that heritage while layering in contemporary selections throughout. A multi-tone color palette brings warmth and dimension to the interiors, high-end finishes carry a consistent standard of quality from unit to unit, and well-planned custom lighting and fixtures, inside and out, add both security and beauty after dark. The unit mix consists of four (1-bedroom / 1-bathroom) units and one (2-bedroom / 1-bathroom) unit, appealing to a wide range of renters including young professionals, military personnel, couples, and long-term residents seeking a refined standard of housing in one of San Diego's premier coastal communities. Among them is a newly constructed, freestanding bungalow with no shared walls and its own privacy-fenced yard. Every home offers an LG full-size stackable washer and dryer, an LG dishwasher, remote controlled mini-split air conditioning, and thoughtfully updated interiors designed for the way tenants live today. Five on-site parking spaces and two newly built from the ground up 10' x 12' private walk-in storage spaces round out the offering. The storage spaces are equipped with fans, multiple electrical outlets and lights allowing versatility to be used as office or studio space. The walk-in storage spaces also carry the potential for conversion into a second ADU, subject

Market Context

This multifamily in San Diego, CA is listed for sale. It is offered at an approximate 3.4% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in San Diego, CA — view the full market.

As of Q4 2025, the San Diego multifamily market showed a 5.4% vacancy rate, average asking rents near $2456.00/unit/mo, and cap rates around 4.6%. Source: multiple brokerage reports, Q4 2025.

Its 3.4% asking cap rate is below the San Diego multifamily market average of about 4.6%, reflecting premium pricing relative to comparable assets. Tight vacancy keeps competition for quality space elevated.

Multifamily market FAQ

What is the typical cap rate for multifamily in San Diego?
About 4.6% as of Q4 2025, per multiple brokerage reports.
Is the San Diego multifamily market tightening or softening?
Vacancy is around 5.4% (Q4 2025).

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