3035 Macaulay San Diego, CA 92106

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Listing date May 20, 2026

Source Elliman

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Investment Insights

Based on property information with market context.

This well-maintained six-unit apartment complex presents a rare investment opportunity in the desirable Point Loma neighborhood of San Diego, situated steps from Liberty Station. The property benefits from recent capital improvements, including a full electrical panel upgrade completed in 2025, major plumbing upgrades in 2023, and two remodeled bathrooms in 2026. These upgrades offer reduced maintenance costs. The units lease quickly upon vacancy, and with several currently rented below market rate, there is potential to increase rents. Additional income is generated through an on-site coin-operated laundry facility. Ample off-street parking is available for all units. The property has a strong projected cap rate of 5.15. Expenses used to calculate cap rates are for the 2025 tax year and include water, SDGE, property insurance, current property tax, gardener, and property management fees. Tenants are paying for trash collection. The location is considered very walkable with a walk score of 81.

Key Highlights

• Prime location directly across from Liberty Station in Point Loma.
• Significant capital improvements completed: full electrical panel upgrade (2025), major plumbing upgrades (2023), and two remodeled bathrooms (2026).
• Immediate upside potential through increasing rents on below‑market units.

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FAQs

What type of property is this?

Apartment building - Well-maintained six-unit apartment complex near Liberty Station.

Where is this apartment building located?

The property is located at 3035 Macaulay San Diego, CA.

What is the asking price?

The asking price for this property is $2,150,000.

What are key features of this property?

This property features: Prime location directly across from Liberty Station in Point Loma.; Significant capital improvements completed: full electrical panel upgrade (2025), major plumbing upgrades (2023), and two remodeled bathrooms (2026).; Immediate upside potential through increasing rents on below‑market units.