Investment Overview

Marcus & Millichap is pleased to present 2774–80 Broadway, a rare seven-unit multifamily asset located in the highly sought-after Golden Hill neighborhood of San Diego. Situated just minutes from Balboa Park, Downtown San Diego, major employment centers, and key transit corridors, the property sits in one of the city’s most vibrant and walkable urban communities. The asset consists of seven 1-bedroom/1-bath units, supported by five off-street parking spaces and convenient alley access, a valuable amenity package in this dense, historic pocket of the city. The property provides stable day-one income while offering multiple pathways for value creation. Golden Hill’s charm and investment appeal continue to strengthen, driven by its eclectic mix of restored craftsman homes, revitalized multifamily buildings, independent cafés, and new infill projects transforming the surrounding area. This unique neighborhood character—paired with strong renter demand and proximity to the cultural hub of Balboa Park—creates a consistently high-performing rental environment. With its irreplaceable location, solid physical fundamentals, and long-term upside, 2774–80 Broadway stands out as a compelling opportunity for both value-add investors and long-term holders seeking growth in one of San Diego’s most dynamic submarkets. In addition to its existing income stream, the property offers significant redevelopment upside through its RM-2-5 base zoning and Complete Communities Tier 3 designation, allowing for an impressive 6.5 FAR. This rare zoning combination substantially increases the allowable density and opens the door for a high-impact, by-right multifamily redevelopment. Investors benefit from reduced parking requirements, flexible design standards, and eligibility for streamlined approvals under the Complete Communities Housing Solutions program. Given its central Golden Hill location near Balboa Park and Downtown San Diego—areas with some of the strongest rental demand in the region—the site presents an exceptional infill redevelopment opportunity capable of supporting a dramatically larger, modern apartment community.