3305-3309 Clairemont Mesa Blvd - Apartments FOR SALE


San Diego, CA 92117- Bay Ho
$3,340,000 USD
858-285-3769
3305-3309 Clairemont Mesa Blvd, San Diego, CA for Sale
$3,340,000 USD
Apartments - FOR SALE
1/21
null | 5% Cap Rate

3305-3309 Clairemont Mesa Blvd
San Diego, CA 92117
Bay Ho


HIGHLIGHTS

  • Six units across three detached buildings; delivered 100% vacant for full mark-to-market on day one.
  • 5.00% market cap on $166,778 stabilized pro forma NOI; 4.36% to 5.49% cap range across scenarios.
  • $555,833 per unit and $717 PSF, below the $562,033 closed-comp average.
  • Four 2026-built residences plus a renovated 1983 duplex; no deferred maintenance.
  • Two units with private rooftop decks commanding top-of-market rents.
  • One 2BR deed-restricted at $3,200/mo; five units unrestricted.

OVERVIEW

Commercial Asset Advisors presents 3305-3309 Clairemont Mesa Blvd, a six-unit multifamily asset in central San Diego's Clairemont submarket, delivered 100% vacant with a clean path to market rents. The offering pairs four 2026-built residences with a fully renovated 1983 duplex across two detached buildings, giving a new owner modern product, no deferred maintenance, and the flexibility to set every rent to market on day one. Priced at $3,335,000 ($555,833 per unit, $717 PSF), the asset is underwritten to a 5.00% market cap on $166,778 of stabilized pro forma NOI, with a conservative-to-premium NOI range of $145,438 to $183,194 (4.36% to 5.49% cap). New-construction efficiency holds operating expenses near 29% of effective gross income. The basis sits below the $562,033 closed-comp average and between the two directly comparable 2025 six-unit deliveries in the submarket. The unit mix is five two-bedroom and one one-bedroom residence, two with private rooftop decks. Units are delivered fully furnished with a wellness and Apple smart-home package, including HomeKit integration, whole-property filtered water, filtered showers, and smart climate and entry systems throughout. One two-bedroom (Unit 3309-3) is deed-restricted at $3,200 per month; the remaining five are unrestricted and lease at market. Position is on the Clairemont Mesa Blvd corridor with immediate access to the 805, SR-52, and SR-163, central to Bay Park, Bay Ho, UTC, Mission Valley, and the coast. RM-1-1 zoning, 6,083 SF lot, 4,650 SF building area. Offered free and clear.

FOR SALE DETAILS

PRICE

$3,340,000 USD

PRICE/SF

$718 USD /SF

# OF UNITS

6

PRICE/UNIT

$556,667

CAP RATE

5%

% LEASED

0%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2026

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

5,896 SF

ZONING

RM1-1

APN/PARCEL ID

359-311-09

ASK ABOUT THIS PROPERTY

Matthew MonterrosoCommercial Asset AdvisorsMore Info
858-285-3769

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

Matthew MonterrosoCommercial Asset AdvisorsMore Info
858-285-3769

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