3717 36th St — Sale in San Diego, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: San Diego, CA 92104

Photos

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Investment Figures

Cap rate
5.62%

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 pleased to present 3717 36th Street, a recently renovated and newly constructed 4-unit asset in the Cherokee Point Neighborhood of San Diego, CA. Construction completed in the summer of 2026. The property is comprised of a renovated 3 bedroom / 1.5-bathroom single family homes and three (3) newly constructed 2-bedroom / 1-bathroom floorplans. The property features off-street parking for both the single-family home and new construction units; a rare amenity compared to the competing product in the neighborhood. Interiors are functional and well-appointed with vinyl plank flooring, heating & air, white shaker cabinets and stainless-steel appliances. Located between Interstates 805 and 15 and bordered by Normal Heights to the north, City Heights to the east, and North Park to the west, Cherokee Point is known for its vibrant culinary scene, lively bars, and unique thrift stores, making it a highly attractive area for renters. Its central location and strong rental fundamentals make it an ideal choice for tenants seeking quality housing in one of San Diego’s improving neighborhoods. With its comprehensive improvements, well-balanced unit mix, and prime location, 3717 36th Street presents investors with a turnkey opportunity to acquire a stable, income-producing asset in a supply-constrained, high-demand submarket. Investment Highlights: • Newly Constructed & Fully Renovated in 2026 with comprehensive interior and exterior upgrades that deliver modern aesthetics, durable finishes, and minimal maintenance needs. • Off-street parking for every unit. • Comprised entirely of 2- and 3-bedroom floorplans. • Exempt from AB-1482 Rent Control measures for market-rate units for 15 years. • Easy access to Interstates 805 and 15, providing tenants easy access to all that San Diego has to offer.

Market Context

This multifamily in San Diego, CA is listed for sale. It is offered at an approximate 5.6% 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 5.6% asking cap rate is above the San Diego multifamily market average of about 4.6%, implying a higher yield (and typically more risk or upside) than 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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