Ohio Villas — Sale in San Diego, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: San Diego, CA 92116

Photos

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Investment Figures

Cap rate
4.66%

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

The Zorbas Huffman Group of Marcus & Millichap is pleased to present the "Ohio Villas," a 16-unit multifamily community located at 4638–4648 Ohio Street in San Diego, California. The property offers investors the opportunity to acquire a well-located, extensively renovated asset in the heart of North Park, one of San Diego’s most established urban rental markets. Built in 1980, the property features a diverse and highly functional unit mix comprised of six (6) one-bedroom/one-bathroom units averaging approximately 500 square feet, four (4) two-bedroom/one-bathroom units averaging approximately 750 square feet, four (4) two-bedroom/one-and-one-half-bathroom units averaging approximately 780 square feet, and two (2) two-bedroom/two-bathroom units averaging approximately 838 square feet, totaling approximately 10,796 rentable square feet. All 16 units have been upgraded with condo-quality finishes and thoughtful interior improvements. Each unit features a fireplace, as well as renovations including granite countertops, updated cabinetry, tile backsplashes, stainless steel appliances, tile flooring, in-unit washers and dryers, and glass shower enclosures. Each unit includes two off-street parking spaces, with 12 units also benefiting from a private single-car garage. Select units feature private patios or balconies, providing an additional amenity that is difficult to replicate in the surrounding rental market. The property's exterior has also been upgraded and features secure gated access, mature landscaping, dual-pane windows, and tasteful Spanish-style architectural details. Importantly, the property has a recorded condominium plan with individual APNs already assigned to each unit. This provides a future owner with additional flexibility to pursue a for-sale strategy, creating a variety of potential exit options beyond operating the property as a traditional multifamily investment. Located in the heart of North Park just steps from Adams Avenue, the property provide

Market Context

This multifamily in San Diego, CA is listed for sale. It is offered at an approximate 4.7% 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 4.7% asking cap rate is in line with the San Diego multifamily market average of about 4.6%. 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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