Fully Renovated 7-Unit Ocean Beach Investment
- 7 Units
- Unit Mix: 4 × 2BR units, 2 × 1BR/1BA units, and 1 × detached 1BR/1BA casita with den
- Asking Price: $3,850,000
- 4.75% Cap Rate
- 14.49 GRM
- Approximately 3,900 SF
- Approximately 4,790 SF Lot / 0.11 Acres
- Originally built in 1932
- Extensively renovated from the studs in 2026
- 2 Stories
- Approximately three blocks from the beach
- In-unit washers and dryers
- Central air conditioning
- Stainless steel appliances
- Updated kitchens and bathrooms
- Dual-pane windows
- Private exterior storage for each unit
- Two single-car garages
- Additional off-street parking
- Select private outdoor areas
- Turnkey condition with minimal anticipated near-term capital expenditures
- Prime Ocean Beach coastal location
Property Description
2175–2177 Bacon Street presents the opportunity to acquire a fully renovated seven-unit multifamily property approximately three blocks from the beach in Ocean Beach. Offered at $3,850,000, the property is currently marketed at a 4.75% capitalization rate and 14.49 GRM, providing investors with a turnkey coastal asset in one of San Diego’s most supply-constrained rental markets.
Renovated from the studs in 2026, the property features a desirable unit mix consisting of four two-bedroom units, two one-bedroom units, and one detached one-bedroom/one-bath casita with a den. Improvements include updated kitchens and bathrooms, stainless steel appliances, modern flooring, in-unit laundry, central air conditioning, dual-pane windows, and contemporary finishes throughout.
Additional property features include private exterior storage for each unit, two single-car garages, off-street parking, and select private outdoor areas. The property’s walkable Ocean Beach location provides convenient access to the beach, restaurants, cafés, shopping, recreation, and major transportation routes.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Highest & best offer |
| Property Types: | Apartment Buildings |
| Price: | $3,850,000 |
| No. of Units: | 7 |
| Cap Rate: | 4.75% |
| GRM /GIM: | 14.49 |
| Year Built: | 1932 |
| Year Renovated: | 2026 |
| Building Size: | 3,950 Sq ft |
| Lot Size: | 0.11 Acres |
| No. of Stories: | 2 |
| APN: | 448-122-02-00 |
| Opportunity Zone: | No |
| Price per unit: | $550,000 |
| Property Website | Click Here |
Unit mix
| Description | No. of Units | Sq ft. | Avg. Monthly Rent |
|---|---|---|---|
| 1 BD/ 1 BA | 3 | 553 | 3115 |
| 2 BD/ 1 BA | 4 | 575 | 3199 |
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