509 Park Blvd - Apartments FOR SALE


San Diego, CA 92101- East Village
$22,200,000 USD
760-930-7940
509 Park Blvd, San Diego, CA for Sale
$22,200,000 USD
Apartments - FOR SALE
1/33
null | 5.2% Cap Rate

509 Park Blvd
San Diego, CA 92101
East Village


HIGHLIGHTS

  • Extensively Renovated Apartment Community
  • Superior Downtown/East Village location
  • Surrounded by institutionally owned Class-A multifamily projects
  • Historically designated building with substantial Mills Act tax benefits

OVERVIEW

Extensively Renovated! 509 Park is a 71-unit, 32,750-square-foot multifamily property in Downtown San Diego’s East Village, just steps from Petco Park and the San Diego Convention Center. Originally constructed in 1869 as the Bay View Hotel, this historic landmark has been rejuvenated and re-imagined to blend Victorian charm with contemporary style, offering a sophisticated lifestyle that bridges past and present. The property features spacious studio apartments with private kitchens and bathrooms, seamlessly combining classic elegance with modern functionality. A comprehensive renovation in 2023-2025 preserved the building’s historic character while adding modern amenities.509 Park features spacious studio apartments with private kitchens and bathrooms, offering a perfect blend of classic elegance and modern functionality. The property is designated as an SRO with the San Diego Housing Commission with substantial Mills Act tax benefits. Please contact brokers for Offering Memorandum.

FOR SALE DETAILS

PRICE

$22,200,000 USD

PRICE/SF

$639 USD /SF

# OF UNITS

71

PRICE/UNIT

$312,676

CAP RATE

5.2%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Extensively Renovated Historical Mills Act

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1869

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.38 AC

LAND SF

16,553 SF

ZONING

CCPD-R

APN/PARCEL ID

535-151-11

ASK ABOUT THIS PROPERTY

Peter ScepanovicColliersMore Info
760-930-7940

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

Peter ScepanovicColliersMore Info
760-930-7940

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