2821 Morena Blvd - Apartments FOR SALE


San Diego, CA 92117- Bay Park
$6,595,000 USD
858-761-2529
2821 Morena Blvd, San Diego, CA for Sale
$6,595,000 USD
Apartments - FOR SALE
1/16
null | 5.23% Cap Rate

2821 Morena Blvd
San Diego, CA 92117
Bay Park


HIGHLIGHTS

  • Competitive 2% co-op fee offered to buyer’s agent
  • Fully renovated in 2023, offering modern finishes and a high standard of living
  • Prime coastal San Diego location with scenic view of Mission Bay and proximity to outdoor recreation
  • Stabilized asset with in-place market rents, offering long-term income security
  • Just steps from the new Clairemont Drive Trolley Station, enhancing regional transit connectivity
  • Ample off-street parking available for tenants

OVERVIEW

We are pleased to present The Villager, a fully renovated 20-unit property located in the highly desirable coastal community of Bay Park, San Diego. Built in 1977, the property sits on a 0.27-acre lot and is comprised of twenty (20) studio units, each averaging approximately 500 square feet. Located at 2821 Morena Boulevard, “The Villager” offers a rare opportunity to acquire a turnkey asset in one of San Diego’s most vibrant and rapidly appreciating neighborhoods. The property is an impeccably maintained multifamily haven that underwent a comprehensive interior and exterior renovation in 2023. Every unit now features modern upgrades including vinyl plank flooring, sleek cabinetry, and energy efficient double-pane vinyl windows. Select units offer ocean views, catering to both long-term and short-term rental strategies. The property’s prime location provides residents with immediate access to Mission Bay, the beach, and a variety of water activities. Surrounded by a rich mix of dining retail, and recreational amenities—including renowned restaurants and scenic golf courses—The Villager delivers an elevated coastal living experience. The allure of the property extends beyond its modern interiors, as residents find themselves in close proximity to a myriad of dining and retail options, and popular restaurants. The great access to Interstate-5 further connects the property to the entirety of San Diego County. This desirable location, coupled with the property's remarkable features, positions “The Villager” as an ideal investment opportunity. Investors seeking a distinctive asset in a dynamic location will find the Bay Park neighborhood and its unique offerings highly appealing.

FOR SALE DETAILS

PRICE

$6,595,000 USD

PRICE/SF

$660 USD /SF

# OF UNITS

20

PRICE/UNIT

$329,750

CAP RATE

5.23%

% LEASED

70%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Villager Bay Park

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1977

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.27 AC

LAND SF

11,761 SF

ZONING

-

APN/PARCEL ID

425-511-43

ASK ABOUT THIS PROPERTY

Austin Ray HuffmanMarcus & MillichapMore Info
858-761-2529

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Austin Ray HuffmanMarcus & MillichapMore Info
858-761-2529

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