Multifamily
2611 Adams Ave
2611 Adams Ave, San Diego, CA 92116
Listing Price: $4,200,000
Investment Overview
Zorbas, Huffman, and Partners of Marcus & Millichap is pleased to present 2611 Adams Ave, a newly constructed 11-unit mixed-use investment opportunity in North Park, San Diego. Built in 2023, the property is comprised of ten (10) studios and one (1) retail unit, which will be occupied by a beer garden tenant with a new 7-year NNN lease.
This exciting new development is comprised of ten (10) market rate studio units that range from 155 – 285 sq ft. The property has on-site laundry facilities, off-street parking, and small pets are welcome. Each home is finished with contemporary fixtures and finishes, coming with 9-foot ceilings, quartz countertops, full kitchen appliance packages HVAC, built-in shelves and storage cabinetry.
The subject property is located in the northern end of North Park, one of the most coveted locations for renters in San Diego. In and of itself, the site location is also outstanding, giving premium visibility and walkability. The property boasts a walkability score of 90 which walkscore.com calls “a walkers dream”. It is approximately one-and-one-half miles from Morley Field/Balboa Park which offers tennis courts, public pool, baseball fields, archery range, hiking trails, dog park, disk golf course, playground, and a speed track for bicyclist. Residents at the subject property enjoy immediate walking access to the many bars and restaurants on Adams Avenue, El Cajon Blvd and 30th Street. Lastly, residents enjoy easy access to Interstate 805 and are just minutes away from San Diego’s largest employment centers including Downtown, Mission Valley, and Kearny Mesa.
This property presents a unique opportunity for an investor to purchase a recently constructed luxury asset in North Park, one of the strongest submarkets at the forefront of rental growth in San Diego. The new owner will enjoy the security of having the property situated near comparable apartment complexes, local shopping, and infrastructure. With its innovative design, luxurious enhancements, and optimal high demand unit mix ideal for the local workforce, 2611 Adams Ave provides investors with the unique opportunity to acquire a significant next generation asset that is poised to capture steady rental premiums for generations.
2611 Adams Ave
Investment Highlights
- Rare opportunity to acquire a recently constructed luxury asset in a high barrier to entry market
- Custom designer interiors with exquisite modern fixtures and finishes
- Seller Financing available with a down payment of $2.7 million at 5% interest
- Market rate units exempt from AB1482 rent control measures for 15 years
- Minutes away from major employment centers such as Downtown and Mission Valley
- Superior walkability to neighborhood coffeeshops, restaurants, shops, theaters & playhouses, parks, and schools
Exclusively Listed By
Financing By
Listing Price: $4,200,000
Investment Highlights
- Rare opportunity to acquire a recently constructed luxury asset in a high barrier to entry market
- Custom designer interiors with exquisite modern fixtures and finishes
- Seller Financing available with a down payment of $2.7 million at 5% interest
- Market rate units exempt from AB1482 rent control measures for 15 years
- Minutes away from major employment centers such as Downtown and Mission Valley
- Superior walkability to neighborhood coffeeshops, restaurants, shops, theaters & playhouses, parks, and schools
Investment Overview
Zorbas, Huffman, and Partners of Marcus & Millichap is pleased to present 2611 Adams Ave, a newly constructed 11-unit mixed-use investment opportunity in North Park, San Diego. Built in 2023, the property is comprised of ten (10) studios and one (1) retail unit, which will be occupied by a beer garden tenant with a new 7-year NNN lease. This exciting new development is comprised of ten (10) market rate studio units that range from 155 – 285 sq ft. The property has on-site laundry facilities, off-street parking, and small pets are welcome. Each home is finished with contemporary fixtures and finishes, coming with 9-foot ceilings, quartz countertops, full kitchen appliance packages HVAC, built-in shelves and storage cabinetry. The subject property is located in the northern end of North Park, one of the most coveted locations for renters in San Diego. In and of itself, the site location is also outstanding, giving premium visibility and walkability. The property boasts a walkability score of 90 which walkscore.com calls “a walkers dream”. It is approximately one-and-one-half miles from Morley Field/Balboa Park which offers tennis courts, public pool, baseball fields, archery range, hiking trails, dog park, disk golf course, playground, and a speed track for bicyclist. Residents at the subject property enjoy immediate walking access to the many bars and restaurants on Adams Avenue, El Cajon Blvd and 30th Street. Lastly, residents enjoy easy access to Interstate 805 and are just minutes away from San Diego’s largest employment centers including Downtown, Mission Valley, and Kearny Mesa. This property presents a unique opportunity for an investor to purchase a recently constructed luxury asset in North Park, one of the strongest submarkets at the forefront of rental growth in San Diego. The new owner will enjoy the security of having the property situated near comparable apartment complexes, local shopping, and infrastructure. With its innovative design, luxurious enhancements, and optimal high demand unit mix ideal for the local workforce, 2611 Adams Ave provides investors with the unique opportunity to acquire a significant next generation asset that is poised to capture steady rental premiums for generations.
Exclusively Listed By
Financing By
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