1518-1536 Rosecrans St - Apartments FOR SALE


San Diego, CA 92106- Roseville-Fleet Ridge
$7,500,000 USD
858-369-3085
1518-1536 Rosecrans St, San Diego, CA for Sale
$7,500,000 USD
Apartments - FOR SALE
1/21
null | 3.38% Cap Rate

1518-1536 Rosecrans St
San Diego, CA 92106
Roseville-Fleet Ridge


HIGHLIGHTS

  • Upgraded unit interiors (approx 1/3 of units), a 2014 roof replacement with new gutters, and many replaced water heaters.
  • The unit interiors can be renovated to achieve significantly higher rents.
  • Most errands can be accomplished on foot. Across the street from Starbucks and one block from Ralph's Grocery.
  • Highly desirable neighborhood with average household income of $212,063 and median home value of $1.55 Million within 1-mile
  • 1-mile from Liberty Station
  • Well-maintained asset owned by the same family for generations

OVERVIEW

Kidder Mathews is pleased to present the opportunity to acquire an 18-unit apartment community located in the coastal neighborhood of Point Loma. The property features one-bedroom and two-bedroom floor plans, an on-site laundry facility, and well-maintained, professionally landscaped grounds. Residents enjoy a highly walkable location near restaurants, grocery stores, coffee shops, and neighborhood amenities, and are less than one mile from Liberty Station, offering approximately 360,000 square feet of premier retail, dining, office, and entertainment space. While the property has been well maintained, in-place rents remain below market. Current ownership has improved six of the 18 units. A new owner can significantly increase the current rents with a full interior and exterior renovation. Located near the waterfront, the property has historically maintained strong occupancy and benefits from Point Loma's desirable coastal lifestyle, scenic bay views, nearby marinas, and major employment centers, including the U.S. Navy. Loma Manor Apartments offers a rare opportunity to acquire a well located coastal multifamily asset with meaningful value-add potential in one of San Diego's most desirable and supply-constrained submarkets.

FOR SALE DETAILS

PRICE

$7,500,000 USD

PRICE/SF

$689 USD /SF

# OF UNITS

18

PRICE/UNIT

$416,667

CAP RATE

3.38%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Loma Manor Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1948

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.35 AC

LAND SF

15,246 SF

ZONING

CC-4-2 & RM-3-7

APN/PARCEL ID

530-742-05

ASK ABOUT THIS PROPERTY

Merrick MatricardiKidder MathewsMore Info
858-369-3085

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Merrick MatricardiKidder MathewsMore Info
858-369-3085

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.