Newmark is pleased to present Canopy North Park, a 36-unit, new construction podium multifamily community delivered in 2025 and located in the heart of North Park's retail corridor. The seven-story, elevator-served building offers a best-in-class unit mix of studios, one-bedrooms, and two-bedrooms with an average size of 646 SF, featuring quartz countertops, stainless steel appliances, in-unit LG washer/dryers, dual-pane windows, and 9-foot ceilings throughout. The property is currently 91.6% occupied with in-place rents averaging 9.5% below comparable new construction, presenting a clear NOI growth path as leases roll over the next 12 to 24 months. The RUBS program currently recovers only 41% of utility costs, offering additional upside potential. With 50% of units being two-bedroom/two-bath floor plans, the asset drives stronger average rents and longer resident tenure than competing product in the submarket. Canopy carries a Walk Score of 97 and sits one block from North Park Community Park and University Avenue, with freeway access to over 900,000 jobs across biotech, defense, and healthcare within a 30-minute drive. North Park has sustained a 10-year average occupancy of 95.88% and a 10-year average market cap rate of 4.15% per CoStar, making it one of the strongest performing rental submarkets in the county.