1478 Hornblend Street
Price
$6,350,000
Price Per Unit
$635,000
Price Per Square Foot
$938.10
CAP Rate
4.73%
Units
10 Units
Building Square Feet
6,769 SF
Lot Size
0.14 Acres
Year Built
1969/2024
APN
423-092-10-00
The Bove Group is proud to present The Surf House at 1478 Hornblend Avenue, a fully rebuilt and modernized 10-unit apartment community in the heart of Pacific Beach, San Diego. Offered at $6,350,000, the property operates at a 4.73% cap rate and a 14.93 GRM—a rare combination of strong returns and turnkey quality in one of Southern California’s most supply-constrained coastal markets.
Completed in June 2024, the building underwent a full down-to-the-studs renovation, including all-new systems: 600-amp electrical (100-amp per unit), new plumbing, central water heater, and a 2024 fire sprinkler system. Structural upgrades include a new foundation, roofing, stucco, windows, gutters, and steel staircases. Interiors were finished with quartz countertops, custom cabinetry, stainless steel appliances, designer tile, luxury vinyl plank flooring, in-unit laundry, and split HVAC systems. Each unit also features private outdoor space—exclusive yards or roof decks with panoramic ocean and bay views.
All construction was completed with 100% City of San Diego permits and built to current code—a major differentiator in the coastal market. Located just six blocks from the beach and steps from Garnet Avenue, The Surf House offers a 96 Walk Score and long-term rent growth potential, supported by strict coastal zoning and limited new apartment development in Pacific Beach.
Listed By:
Aaron Bove
Senior Managing Director, Investments
aaron.bove@marcusmillichap.com
(858) 945-7094
Jared Wallach
Associate Director Investment
jared.wallach@marcusmillichap.com
(424) 205-3800