1315 Morena Blvd - Multi-Family FOR SALE


San Diego, CA 92110- Morena
$3,399,000 USD
619-358-3748
1315 Morena Blvd, San Diego, CA for Sale
$3,399,000 USD
Multi-Family - FOR SALE
1/19
null | 4.99% Cap Rate

1315 Morena Blvd
San Diego, CA 92110
Morena


HIGHLIGHTS

  • STRONG UNIT MIX - 12 Units Total: 3 Studios | 8 One-Bedroom | 1 Two-Bedroom
  • Fully permitted down-to-stud renovation
  • New plumbing, electrical, drywall & insulation throughout
  • Secured gated entry & off-street parking
  • Modernized interiors with strong tenant appeal
  • New fire sprinkler system installed

OVERVIEW

Introducing a fully reimagined 12-unit apartment community in the heart of Bay Park — one of San Diego’s most walkable, lifestyle-driven coastal neighborhoods. Just blocks from Mission Bay and surrounded by beloved local dining and gathering spots, this property offers residents an authentic Bay Park lifestyle with exceptional everyday convenience. The community consists of 3 studios, 8 one-bedroom/one-bath units, and 1 two-bedroom/two-bath unit, all thoughtfully modernized as part of a comprehensive, city-permitted down-to-the-studs renovation. Capital improvements include a new fire sprinkler system, all-new plumbing and electrical systems, new drywall and insulation throughout, secured gated access, and off-street parking — delivering new-construction quality within an established coastal neighborhood setting. Each residence features modern finishes and upgraded interiors, creating strong tenant appeal and a high-quality, low-maintenance investment with stabilized rental income already in place. Location is a defining feature. Situated in the vibrant core of Bay Park, residents can walk to neighborhood favorites including Cordova (next door), Sardina’s Italian, Sidecar (directly across the street), Luce, Bay Park Fish Company, Seisel’s Meat Market, and Tio Leo’s. The property is minutes from the Tecolote Trolley Station, major bus routes, Interstate 5, University of San Diego, Old Town, Fashion Valley, San Diego International Airport, Mission Bay, Fiesta Island, and Tecolote Park, placing recreation, employment centers, and transportation hubs within easy reach. Beyond its immediate lifestyle appeal, the property sits within the trajectory of the proposed Morena Corridor Project, an area already benefiting from infrastructure investment, enhanced connectivity, and growing housing demand — positioning the asset for continued long-term upside. 1315 Morena Blvd presents a rare opportunity to acquire a stabilized, turnkey apartment community in one of coastal San Diego’s most desirable and evolving submarkets.

FOR SALE DETAILS

PRICE

$3,399,000 USD

PRICE/SF

$829 USD /SF

# OF UNITS

12

PRICE/UNIT

$283,250

CAP RATE

4.99%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

12 on Bay Park

PROPERTY TYPE

Multi-Family

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1950

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,387 SF

ZONING

-

APN/PARCEL ID

436-211-14

ASK ABOUT THIS PROPERTY

Seth WatjeStarker West, IncMore Info
619-358-3748

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Seth WatjeStarker West, IncMore Info
619-358-3748

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.