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Multifamily

2525 Fairmount Avenue

2525 Fairmount Ave, San Diego, CA 92105

Listing Price: $7,900,000

Number of Units
30
Price/Unit
$263,333
Price/Gross SF
$422.01
Gross SF
18,720

Investment Overview

Marcus & Millichap is pleased to present a rare 30-unit apartment complex in the gentrifying City Heights neighborhood of San Diego just 3 miles from downtown. Resting on an enormous lot of almost an acre (38,332 square feet), this 1979-complex features twenty-eight 1-bedroom / 1-bath units, a single 2-bedroom / 1-bath unit and single studio / 1-bath unit. All 1-beds are large at 625 square feet, with the 2-bedroom at 820 square feet and studio at 400 square feet. Most units enjoy their own balconies, private inward-facing courtyard and pool with well maintained, partially upgraded interiors. Each unit contains floating vinyl plank flooring, quartz countertops, white shaker cabinets and white appliances. A new roof and several sliding glass doors were installed within the last few years and secure-gated entry with off-street parking is available for every unit. Laundry is leased from WASH Services and owner collects 75% of the income. City Heights is a designated opportunity zone by the U.S Department of Treasury and may offer tax benefits for investors. With a walking score of 89, the asset is steps away from some of San Diego’s most popular bars, restaurants, shops, and attractions on El Cajon Blvd and University Ave. City Heights is a neighborhood growing in popularity year after year. The increased demand for apartments in the area will continue to keep vacancy rates low and rent increases steady.

Investment Highlights

  • Highly Gentrifying City Heights Complex With Immediate Rental Upside
  • Rare 30-Unit Complex - Few Complexes Trade Over 20 Units Locally
  • Extremely Large 1-Bedroom Units With Interior Courtyard & Pool

Exclusively Listed By

Multifamily

2525 Fairmount Avenue

Listing Price: $7,900,000

Number of Units
30
Price/Unit
$263,333
Price/Gross SF
$422.01
Gross SF
18,720

Investment Highlights

  • Highly Gentrifying City Heights Complex With Immediate Rental Upside
  • Rare 30-Unit Complex - Few Complexes Trade Over 20 Units Locally
  • Extremely Large 1-Bedroom Units With Interior Courtyard & Pool

Investment Overview

Marcus & Millichap is pleased to present a rare 30-unit apartment complex in the gentrifying City Heights neighborhood of San Diego just 3 miles from downtown. Resting on an enormous lot of almost an acre (38,332 square feet), this 1979-complex features twenty-eight 1-bedroom / 1-bath units, a single 2-bedroom / 1-bath unit and single studio / 1-bath unit. All 1-beds are large at 625 square feet, with the 2-bedroom at 820 square feet and studio at 400 square feet. Most units enjoy their own balconies, private inward-facing courtyard and pool with well maintained, partially upgraded interiors. Each unit contains floating vinyl plank flooring, quartz countertops, white shaker cabinets and white appliances. A new roof and several sliding glass doors were installed within the last few years and secure-gated entry with off-street parking is available for every unit. Laundry is leased from WASH Services and owner collects 75% of the income. City Heights is a designated opportunity zone by the U.S Department of Treasury and may offer tax benefits for investors. With a walking score of 89, the asset is steps away from some of San Diego’s most popular bars, restaurants, shops, and attractions on El Cajon Blvd and University Ave. City Heights is a neighborhood growing in popularity year after year. The increased demand for apartments in the area will continue to keep vacancy rates low and rent increases steady.

Exclusively Listed By

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