Description

1536 MOORLAND DR is an eight-unit multifamily offering at 1536 Moorland Drive in San Diego’s Pacific Beach submarket. Approximately one block from Sail Bay, the Property pairs an established rental operation with a Crown Point setting that residents can enjoy beyond their apartments.

Built in 1959, the Property comprises 6,000 SF on 0.13 acres. Its unit mix includes four one-bedroom apartments and four two-bedroom apartments, with an average unit size of 750 SF and average rent of $2,901.25 per month. Upgraded interiors feature new kitchens and vinyl flooring, while new electrical panels address a building-wide component. Nine parking spaces give residents an off-street option, and the mix of apartment sizes serves households seeking different layouts.

The Crown Point location puts Sail Bay approximately one block away and connects residents with the beaches, parks and dining of Pacific Beach. That proximity gives the apartments a clear residential appeal without relying on a single nearby destination. Pacific Beach also offers the Ocean Front Boardwalk, while the neighborhood’s access to I-5 connects it with destinations elsewhere in San Diego. For an investor, the setting is an integral part of how these apartments compete for residents.

The asking price is $3,950,000, or $493,750 per unit and $658 PSF. In-place net operating income is $179,868 at a 4.60% in-place cap rate. In-place rents of $23,210 compare with market rents of $24,060, framing the difference between current income and the market-rent schedule alongside a 14.2 GRM and 13.7 potential GRM. The investment case is grounded in the existing units, their current income and their Pacific Beach location. Review the Offering Memorandum for the full presentation.