5064-5066 Niagara Ave 6 Unit Apartment Building $4,431,895 CAD ($738,649 CAD/Unit) 3.60% Cap Rate San Diego, CA 92107

CBRE in collaboration with MD Real Estate is pleased to present 5064–5066 The Offering Niagara Avenue, a 6-unit multifamily property located just steps from the sand in the highly coveted Ocean Beach neighborhood of San Diego, California. Positioned just a few properties from the Ocean Beach Pier and one block from Newport Avenue, the property offers an exceptional opportunity to acquire a near-beach asset in one of San Diego’s most vibrant coastal communities.
The property consists of two two-story buildings and features a well-balanced unit mix of one (1) three-bedroom / two-bath unit (approximately 1,320 square feet) and five (5) one-bedroom / one-bath units (ranging from approximately 497 to 619 square feet). The units have been well maintained with partial interior upgrades, offering a blend of classic coastal character and functional layouts.
Interior finishes include a mix of vinyl plank, tile, and hardwood flooring, along with updated kitchens featuring quartz or laminate countertops, custom cabinetry in select units, and tiled showers with upgraded vanities. The property provides three single-car garages accessed via the alley, along with two tandem parking spaces, offering a total of seven off-street parking spaces, a highly desirable amenity in this submarket.
5064–5066 Niagara Avenue presents a compelling value-add opportunity through further interior renovations and repositioning to capture premium coastal rental rates. Additionally, the existing garage configuration may provide ADU conversion potential (buyer to verify), offering the opportunity to further increase density and long-term income.
With its irreplaceable coastal location, proximity to the beach and Newport Avenue, and significant upside potential, 5064–5066 Niagara Avenue represents a rare opportunity to acquire a well-located asset in one of San Diego’s most supply-constrained rental markets.