3795 Alabama St — Sale in San Diego, CA
- Price: Contact for price
- Listing type: For sale
- Asset type: Multifamily Property
- Location: San Diego, CA 92104
Photos
Investment Figures
- Cap rate
- 3.50%
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 3795 Alabama Street, a well-maintained five-unit multifamily property located in the highly desirable North Park neighborhood of San Diego, California. This attractive investment opportunity offers stable in-place income, a desirable unit mix, and strong long-term upside in one of San Diego's most sought-after urban rental markets. Situated on a well-positioned corner lot at Alabama Street and Wightman Street, the property consists of five residential units totaling approximately 2,836 square feet. The unit mix includes one (1) two-bedroom, two-bathroom house of approximately 900 square feet, one (1) one-bedroom, one-bathroom unit of approximately 400 square feet, and three (2) two-bedroom, one-bathroom units approximately 800 square feet each. The diverse floorplans appeal to a broad tenant base and provide investors with reliable occupancy and income stability. Residents enjoy the convenience and walkability that have made North Park one of San Diego's premier rental destinations. The property is located within minutes of neighborhood restaurants, breweries, coffee shops, shopping, Balboa Park, Downtown San Diego, and major employment centers. Its central location, combined with easy access to Interstate 805 and State Route 94, enhances its appeal for tenants seeking an urban lifestyle with convenient commuting options. 3795 Alabama Street presents investors with the rare opportunity to acquire a well-located multifamily asset in one of San Diego's most vibrant and supply-constrained submarkets. With strong in-place cash flow, a desirable unit mix, and long-term appreciation potential, the property is well-positioned to benefit from continued demand for quality rental housing in North Park. Investment Highlights: • Prime North Park location at the corner of Alabama Street and Wightman Street, surrounded by top dining, retail, entertainment, and employment hubs. • Desirable unit mix featuring one detached two-bedroom bungal
Market Context
This multifamily in San Diego, CA is listed for sale. It is offered at an approximate 3.5% 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 3.5% 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).
Contact
- Chris Zorbas · (858) 373-3166 · czorbas@ipausa.com
- Austin Huffman · (858) 373-3122 · ahuffman@ipausa.com
- Jamison Wheeler · (858) 373-3216 · jamison.wheeler@marcusmillichap.com
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