Investment Overview

Zorbas, Huffman, and Partners of Marcus & Millichap is pleased to present "The Oliver", located at 4020-24 Iowa St. The unit mix features two (2) one-bedroom / one-bathroom units, two (2) two-bedroom / two-bathroom cottage style units, and one (1) three-bedroom / two-bathroom cottage style unit. The property boasts five (5) covered carports in the ally, two (2) subsurface parking spaces out front, and gated pedestrian access in the front and rear of the property. The Oliver underwent extensive interior and exterior renovation program in 2017 and has operated as a true pride of ownership asset since then. With ample parking, in unit laundry facilities, and a low density layout, The Oliver is poised for ease of management ownership. The subject property is located in North Park, one of the most coveted locations for renters in San Diego. The property boasts a walkability score of 96 which walkscore.com calls “a walkers paradise”. It is approximately one-and-one-half mile 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, as well as having easy access to Mission Valley, Interstate 805, Interstate 8, and Highway 163. The newly constructed Spanish-style homes at The Oliver include stainless steel appliances, quartz countertops, a spacious kitchen sink, custom paint, and wood-style flooring, significantly elevates the overall allure of the property. These modern touches enhance the living experience, creating a stylish and comfortable atmosphere for residents. Boasting these amenities makes The Oliver highly desirable for the new owner and residents alike.