4168 32nd 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
- 5.54%
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 4168 32nd Street, an upgraded multifamily community ideally located in the highly sought-after North Park neighborhood of San Diego. The property benefits from a premier urban location with close proximity to major employment centers, vibrant retail and dining corridors, and regional transportation routes, supporting strong and consistent rental demand. The property features an efficient unit mix, comprised of three (3) one-bedroom/one-bathroom units, four (4) two-bedroom/one-bathroom units, and three (3) twobedroom/two-bathroom residences across sizeable floorplans. This mix appeals to a broad renter demographic, including young professionals and long-term tenants seeking walkable access to neighborhood amenities, supporting stable occupancy and durable leasing performance in North Park. The residences offer efficient layouts with practical living spaces and well-proportioned bedrooms. Units average approximately 745 square feet, providing an affordable and approachable rental profile within a high-demand urban setting. The units feature updated kitchen and bathroom designs with quartz countertops, new white shaker cabinets, laminate flooring, and all stainless steel appliances including dishwasher, range, microwave, and refrigerator. The community provides residents with immediate access to North Park’s renowned dining, shopping, and lifestyle amenities while remaining well-connected to Downtown San Diego, Balboa Park, and major freeway corridors. With in-place income, a desirable location, and clear value-add potential, 4168 32nd street represents an opportunity to acquire a well-positioned, income-producing multifamily asset with meaningful upside in one of San Diego’s most sought-after urban rental markets. Investment Highlights: • Upgraded investment opportunity with in place market rents • Desirable unit mix featuring one- and two-bedroom residences • Sizeable floor plans with an average unit size of 745 square feet •
Market Context
This multifamily in San Diego, CA is listed for sale. It is offered at an approximate 5.5% 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 5.5% 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).
Contact
- Chris Zorbas · (858) 373-3166 · czorbas@ipausa.com
- Austin Huffman · (858) 373-3122 · ahuffman@ipausa.com
- Chad O'Connor · (858) 373-3146 · chad.oconnor@marcusmillichap.com
Explore this market
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