The property consists of spacious one-bedroom and two-bedroom units, a laundry facility and beautifully landscaped grounds. Tenants benefit from the highly walkable location with a plethora of restaurants, grocers and community amenities all within walking distance. While the property is very well maintained, in-place rents are below market. Current ownership has renovated two out of the 18 units. A future investor has the opportunity to continue the unit renovations and further increase rents. The location of the site near the water drives the high demand for the residential apartments in the project which consistently maintains a 100% occupancy. The project is located in the heart of the prestigious Point Loma community. Point Loma is known for its views of the San Diego Bay and benefits from yachting marinas and the U.S. Navy for a local employment base.
Listing courtesy of Eric Comer from Kidder Mathews
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