328 Milbrae St, San Diego, CA 92113
Commercial property · 2 recorded sales since 2021
Sold November 2025
Listing Agent: Jordan Concepcion (DRE #01936834) · Listing Office: Apartment Realty Group (ARG) · Contact: 619-222-9500 · Bought with: Caleb Mancini · Apartment Realty Group (ARG) · MLS #250037425SD · Source: CRMLS
About this commercial property
Highest Current Cap Rate in all of San Diego County with upside! All 2BR/1BA units with a strong current cap rate of 6.59% and upside to reach a 8%+ cap rate through rent increases and minor improvements. The full 2-bedroom unit mix is highly desirable for tenants and supports long-term stability and rental growth. Select units feature updated finishes including quartz countertops, laminate flooring, and newer cabinets, with room for further upgrades to maximize rents. In addition the unit layouts can fit washer and dryer to further push rents for a new investor. Located in a low-vacancy area near major freeways, transit, employment centers, and just minutes from Downtown San Diego, the property offers solid cash flow with value-add potential.
Listing description from the November 2025 sale, as reported to CRMLS.
Sale history
