4205 Noyes, San Diego, CA 92109
Local realty services provided by:CENTURY 21 Masters
4205 Noyes,San Diego, CA 92109
$5,400,000
- 16 Beds
- - Baths
- - sq. ft.
- Multi-family
- Active
Listed by: tosh everett
Office: salvatore joseph provenza jr
MLS#:OC26221697
Source:San Diego MLS via CRMLS
Price summary
- Price:$5,400,000
About this home
WD Land is pleased to present the opportunity to acquire The Roxy, a fully renovated 16-unit apartment community at 4205 Noyes Street in Pacific Beach. Set at the corner of Noyes Street and Oliver Avenue, the property sits just north of the Kendall-Frost Mission Bay Marsh Reserve, a short walk from the Mission Bay shoreline and a quick ride to the Pacific Beach boardwalk, Garnet Avenue and the coast. Originally built in 1959, the two-story building was taken down to the studs in a 2021 gut renovation. Major building systems were replaced, including a new roof, new electrical and plumbing upgrades, and every unit was rebuilt with new windows, gray shaker kitchens with white countertops, blue subway-tile backsplashes and stainless appliances, new plank flooring, ceiling fans and fully remodeled baths with new vanities, tubs and patterned tile. The result is 16 turnkey junior one-bedroom homes averaging 450 SF, with 15 off-street parking spaces and a cozy coastal look carried outside through seafoam doors, iron railings and lantern lighting. At the offering price of $5,400,000 ($337,500 per unit), The Roxy offers the lowest price per door of any multifamily property currently on the market in Pacific Beach. It trades at a 4.64% cap rate on in-place income and 5.54% at market rents, with a 13.21 GRM falling to 11.77 at market. That price per unit sits about 23% below the $436,935 average of nine recent Pacific Beach sale comparables. Current rents average $2,046 per unit against a $2,300 market rent and a $2,379 average among nearby one-bedroom comparables, leaving room to grow...
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Home facts
- Subdivision & Development:MISSION BEACH
- Listing ID #:OC26221697
- Added:12 day(s) ago
- Updated:October 25, 2026 at 02:50 PM
Rooms and interior
- Bedrooms:16
Structure and exterior
- Levels:2 Story
Finances and disclosures
- Price:$5,400,000
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