Log In/Sign Up
Your email has been sent.
3449 Ocean Front Walk 6 Unit Apartment Building $18,077,164 CAD ($3,012,861 CAD/Unit) 3.56% Cap Rate San Diego, CA 92109
INVESTMENT HIGHLIGHTS
- Brand new Oceanfront 6 unit
EXECUTIVE SUMMARY
Discover a rare trophy opportunity on the iconic Mission Beach boardwalk: 3449 Ocean Front Walk, the ONLY 6-unit, 4-story oceanfront building with no HOA and white papers ready for condo conversion. Fully rebuilt in 2023-2025 with a $2M+ studs-out remodel—including new roof, plumbing, electrical, HVAC, impact windows, designer kitchens/baths, Euro-oak floors, and glass railings—this irreplaceable 30ft-wide lot offers unmatched panoramic surf-to-skyline and bay views from the ONLY true 4th-floor penthouses soaring above the 30ft height cap.
Property Highlights:
Six identical 2BR/2BA ~1,100 SF luxury units, each with private oceanfront and back bay balconies.
Garage provides 8 single parking spaces (no tandem) plus a shared oceanfront patio directly on the boardwalk.
Operational flexibility: Top 4 units vacation-rental ready (pro formas project ~$137K gross each for middle floor, ~$171K for penthouses); bottom 2 long-term leased at $5,995/mo each, preserving transferable Tier-2 STR permits.
Total projected Gross Scheduled Income: $761K | 17.02 GRM | 3.56% CAP Rate.
Massive upside: Activate condo map (ready in 6-9 months) and sell individually—bottom 4 at $2.45M each, top 2 penthouses at $2.8M each—for ~$2.45M potential profit, aligned with 2024-2025 comps (e.g., similar oceanfront condos sold up to $2.812M, and those weren't brand new).
In a supply-starved market where oceanfront buyers are typically all-cash or 50%+ down, this asset delivers immediate cash flow, long-term hold value, or quick profit condo sales potential. No deferred maintenance, no comparables left to build—hold as a legacy multi-family, operate as premium luxury rentals, or capitalize on condo sales.
View full details on LoopNet or contact me to schedule a private showing of the top units. Let's discuss how this once-in-a-generation Mission Beach gem fits your portfolio.
Property Highlights:
Six identical 2BR/2BA ~1,100 SF luxury units, each with private oceanfront and back bay balconies.
Garage provides 8 single parking spaces (no tandem) plus a shared oceanfront patio directly on the boardwalk.
Operational flexibility: Top 4 units vacation-rental ready (pro formas project ~$137K gross each for middle floor, ~$171K for penthouses); bottom 2 long-term leased at $5,995/mo each, preserving transferable Tier-2 STR permits.
Total projected Gross Scheduled Income: $761K | 17.02 GRM | 3.56% CAP Rate.
Massive upside: Activate condo map (ready in 6-9 months) and sell individually—bottom 4 at $2.45M each, top 2 penthouses at $2.8M each—for ~$2.45M potential profit, aligned with 2024-2025 comps (e.g., similar oceanfront condos sold up to $2.812M, and those weren't brand new).
In a supply-starved market where oceanfront buyers are typically all-cash or 50%+ down, this asset delivers immediate cash flow, long-term hold value, or quick profit condo sales potential. No deferred maintenance, no comparables left to build—hold as a legacy multi-family, operate as premium luxury rentals, or capitalize on condo sales.
View full details on LoopNet or contact me to schedule a private showing of the top units. Let's discuss how this once-in-a-generation Mission Beach gem fits your portfolio.
PROPERTY FACTS
| Price | $18,077,164 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $3,012,861 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.10 AC |
| Cap Rate | 3.56% | Building Size | 6,660 SF |
| Gross Rent Multiplier | 17.02 | No. Stories | 4 |
| No. Units | 6 | Year Built/Renovated | 1971/2025 |
| Property Type | Multifamily | Parking Ratio | 1.5/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | MBPD-R-S | ||
| Price | $18,077,164 CAD |
| Price Per Unit | $3,012,861 CAD |
| Sale Type | Investment |
| Cap Rate | 3.56% |
| Gross Rent Multiplier | 17.02 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.10 AC |
| Building Size | 6,660 SF |
| No. Stories | 4 |
| Year Built/Renovated | 1971/2025 |
| Parking Ratio | 1.5/1,000 SF |
| Zoning | MBPD-R-S |
AMENITIES
UNIT AMENITIES
- Balcony
- Kitchen
- Walk-In Closets
- Deck
SITE AMENITIES
- Laundry Facilities
- Waterfront
- Grill
- Elevator
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 6 | - | 1,100 |
1 1
Walk Score®
Very Walkable (75)
PROPERTY TAXES
| Parcel Number | 423-624-01 | Improvements Assessment | $1,216,921 CAD |
| Land Assessment | $10,115,665 CAD | Total Assessment | $11,332,586 CAD |
PROPERTY TAXES
Parcel Number
423-624-01
Land Assessment
$10,115,665 CAD
Improvements Assessment
$1,216,921 CAD
Total Assessment
$11,332,586 CAD
1 of 115
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Robert Brown
3449 Ocean Front Walk
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.