5049 Cape May Ave San Diego, CA ^$ 5,400,000

5049 Cape May Ave

^$ 5,400,000

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5049 Cape May Ave

San Diego, CA, 92107

^$ 5,400,000

Bedrooms18 Baths18.0 Sq 9,458

Monthly Estimate*

^$ 33,249

5049 Cape May Ave, San Diego, CA 92107 - Image 1

5049 Cape May Ave, San Diego, CA 92107 - Image 2

5049 Cape May Ave, San Diego, CA 92107 - Image 3

5049 Cape May Ave, San Diego, CA 92107 - Image 4

5049 Cape May Ave, San Diego, CA 92107 - Image 5

5049 Cape May Ave, San Diego, CA 92107 - Image 6

5049 Cape May Ave, San Diego, CA 92107 - Image 7

5049 Cape May Ave, San Diego, CA 92107 - Image 8

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Multi-Family Home for sale in San Diego, CA

for $5,400,000 with 18 bedrooms and 18 full baths. This 9,458 square foot home was built on a lot size of 0.2441.

The Palms on Cape May is a 12-unit coastal apartment community located one block from the Pacific Ocean in San Diego’s highly sought-after Ocean Beach submarket. The property offers investors a rare opportunity to acquire a well-located asset with spacious units, strong in-place income, and meaningful rental upside through interior improvements. The property has been well maintained and provides investors with stable in-place income along with potential rental upside through strategic interior upgrades. With spacious units and strong tenant demand for beach-adjacent housing, the property is well positioned for continued long-term performance. Residents benefit from 17 on-site parking spaces, including five tandem spaces in the front of the property and seven single spaces in the rear, a valuable amenity in this highly walkable coastal neighborhood where parking is often limited. Located just steps from Newport Avenue, tenants enjoy walkable access to Ocean Beach’s vibrant mix of restaurants, cafés, retail shops, and neighborhood amenities. The Palms on Cape May presents a rare opportunity to acquire a well-located multifamily asset in one of San Diego’s most sought-after beach communities.

Multi-Family Active

Price

^$ 5,400,000

Bedrooms

Full Bath

Property Type

Multi-Family

Taxes

^$ 0

Style

Com-Res Income

Lot Size

0.2441

Town/City

San Diego

County/Region

San Diego

MLS | Web ID

260009653

Features

Exterior

Total Parking 17.0

Lot Size Area 0.0

Number of Buildings 1

Building Area Total 9458.0

Waterfront Y/N N

General

Year Built 0

Stories Count 2

Property Subtype Com-Res Income

Community Features Other/Remarks

County San Diego

Operating Expense 130546.0

New Construction N

Property Type Residential Income

HOA N

Attached Garage N

Full Baths 18

Status ACTIVE

City San Diego

Senior Community Y/N N

Number Of Units Total 12

MLS Area Coastal South

Lot Size Units Acres

Lot Size Square Feet 10633.0

Property Attached Y/N N

Virtual Tour https://www.propertypanorama.com/instaview/snd/260009653

Building Area Units Sqft

Living Area Units Sqft

Standard Status Active

Total Actual Rent 30795.0

Cap Rate 4.24

Freehold IDX

Interior

Air Conditioning Y/N N

Heating Y/N N

Fireplace Y/N N

Half Baths 0

Total Bedrooms 18

Total Baths 18

* Excluded Features

List By

Dylan E Wright

Listing Agent

Md Real Estate, Inc

Broker

(619) 255-3233

Phone

Affordability Calculator

$33,249

Per Month

Monthly Principal & Interest: $33,249
Monthly Property Taxes: --
Monthly Home Insurance: --

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Loan Term

Interest Rate

Yearly Property Taxes

Yearly Home Insurance

Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Multi-family listings in San Diego, CA

Average List Price ^$2,200,808

Percent of Sale Price 59%

About San Diego, CA

1,417,428 Population

15% Since 2002

^$72,408 Median Income

36.37 Median Age

27% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

281193 Elementary School

281006 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
5/5/2026	$5,400,000	-10.00%	Price Down
4/23/2026	$6,000,000		Listed Price

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5049 Cape May Ave, San Diego, CA, 92107 is a Multi-Family Home for sale at $5,400,000 with 9,458 sqft and a lot size of 0.2441. 5049 Cape May Ave has 18 bedrooms and 18.0 baths. The property's zip code is 92107 which is in San Diego, CA

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Listing data provided courtesy of The Internet Data Exchange Program of San Diego Multiple Listing Service, Inc.

This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego Multiple Listing Service, Inc. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright.

Data is updated as of 5/15/2026.

CA BRE #019180026.

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5049 Cape May Ave

Multi-Family Home for sale in San Diego, CA

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