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$ 6,350,000
Est. payment | /mo
$ 6,350,000
Est. payment | /mo
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 250034354SD
HOA Y/N No
Property Sub-Type Mixed Use
Property Description
The Surf House at 1478 Hornblend Avenue, a fully rebuilt and modernized 10-unit apartment community in the heart of Pacific Beach, San Diego. Offered at $6,350,000, the property operates at a 4.73% cap rate and a 14.93 GRM—a rare combination of strong returns and turnkey quality in one of Southern California's most supply-constrained coastal markets. Completed in June 2024, the building underwent a full down-to- the-studs renovation, including all-new systems: 600-amp elec- trical (100-amp per unit), new plumbing, central water heater, and a 2024 fire sprinkler system. Structural upgrades include a new foundation, roofing, stucco, windows, gutters, and steel staircases. Interiors were finished with quartz countertops, custom cabinetry, stainless steel appliances, designer tile, luxury vinyl plank flooring, in-unit laundry, and split HVAC systems. Each unit also features pri- vate outdoor space—exclusive yards or roof decks with panoramic ocean and bay views. All construction was completed with 100% City of San Diego per- mits and built to current code—a major differentiator in the coast- al market. Located just six blocks from the beach and steps from Garnet Avenue, The Surf House offers a 96 Walk Score and long- term rent growth potential, supported by strict coastal zoning and limited new apartment development in Pacific Beach.
Location
State CA
County San Diego
Area 92109 - Pacific Beach
Interior
Fireplace No
Others
Tax ID 4230921000
Listed by Aaron Bove Marcus & Millichap