Listing Broker: Salvatore Joseph Provenza Jr
Listing Agent: Tosh Everett
DRE #01954054: 02212773
760-840-7073
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 ...
+ Read More| Listing Id: | OC26221697 |
|---|---|
| Property Type: | Residential Income |
| Status: | Active |
| Lot Size Acres: | 0.1435 |
| Waterfront?: | No |
| Subdivision: | Mission Beach |
| Year Built: | 1959 |
| Basement Yn: | No |
| Building Area Units: | SquareFeet |
| Common Walls: | TwoCommonWallsOrMore |
| Cooling: | None |
| Electric Expense: | $1,200 |
| Entry Level: | 1 |
| Fireplace Features: | None |
| Fuel Expense: | 0.0 |
| Gross Scheduled Income: | $396,656 |
| Heating: | WallFurnace |
| Levels: | Two |
| Listing Contract Date: | 2026-10-12 |
| Lot Features: | SixteenToTwentyUnitsAcre |
| Lot Size Area: | 6251.0 |
| Lot Size Source: | Assessor |
| Net Operating Income: | $250,671 |
| Number Of Separate Electric Meters: | 16 |
| Number Of Separate Water Meters: | 1 |
| Property Attached?: | Yes |
| Rent Control?: | Yes |
| State Or Province: | CA |
| Stories: | 2 |
| Trash Expense: | $9,592 |
| Property Sub Type Additional: | Apartment |
| Country Subdivision: | 06073 |
| Universal Parcel Id: | urn:reso:upi:2.0:US:06073:4242712100 |
| List Price: | $5,400,000 |
|---|---|
| Property Sub Type: | Apartment |
| Lot Size Square Feet: | 6,251.0 |
| City: | San Diego |
| County Or Parish: | San Diego |
| Postal Code: | 92109 |
| Number Of Units Total: | 16 |
| Building Area Total: | 4848.0 |
| Common Interest: | None |
| Community Features: | Biking, DogPark, Fishing, Golf |
| Directions: | On the Corner of Noyes St and Oliver Ave |
| Elevation Units: | Feet |
| Entry Location: | 1 |
| Garage Spaces: | 0.0 |
| Gross Income: | $396,656 |
| Heating?: | Yes |
| Insurance Expense: | $9,600 |
| Laundry Features: | CommonArea |
| Listing Agreement: | ExclusiveRightToSell |
| Listing Terms: | Cash, CashToNewLoan, Exchange1031, FannieMae, FreddieMac |
| Lot Size Acres: | 0.1435 |
| Lot Size Units: | SquareFeet |
| MLS Area Major: | 92109 - Pacific Beach |
| Number Of Buildings: | 1 |
| Number Of Separate Gas Meters: | 16 |
| Operating Expense: | $145,985 |
| Original List Price: | $5,400,000 |
| Parcel Number: | 4242712100 |
| Pool Features: | None |
| Postal City: | SAN DIEGO |
| Professional Management Expense: | $18,402 |
| Sewer: | PublicSewer |
| Special Listing Conditions: | Standard |
| Stories Total: | 2 |
| Water Sewer Expense: | $5,989 |
| Year Built Source: | Assessor |
| Current Price: | $5,400,000.00 |
| Record Signature: | 1,991,600,276 |
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Based on information from California Regional Multiple Listing Service, Inc. as of October 13, 2026. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
California Regional Multiple Listing Service, Inc. data last updated on October 13, 2026 01:34 AM - PT
Property Last Updated: October 13, 2026 01:34 AM - PT
