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Multifamily
Skyline Apartments
Spring Valley, CA
128 Units
Built in 1985
Post Renovated Stabilized
Investment Highlights
- Originally constructed in 1985, the property has undergone substantial capital improvements with 95% of unit interiors partially renovated, along with common area amenities
- A well-balanced mix of renovated one-, two-, and three-bedroom units averaging 795 SF featuring modern interiors with upgraded appliances, cabinetry, flooring, and fixtures.
- In-Place and Pro forma rents currently 20.23% ($567/unit) and 9.19% ($256/unit), respectively below 80% AMI (Low-Income) rent limits adjusted for Utility Allowances.
- Gated community with swimming pool, spa, outdoor BBQs, resident lounge, two laundry facilities, and professionally landscaped grounds with assigned surface parking.
- Centrally located near Highways 94, 125, and 54, Skyline provides direct connectivity to major regional employment hubs including Downtown San Diego, Kearny Mesa, Otay Mesa, SDSU, and the Grossmont healthcare corridor collectively supporting over 250,000 jobs. Residents also benefit from proximity to key retail centers such as Rancho San Diego Towne Center and Spring Valley Shopping Center.
- Immediate access to healthcare services (Sharp Grossmont Hospital and Scripps Mercy Chula Vista) and recreation amenities including Sweetwater Lane Park, Spring Valley County Park, and the 5,800-acre San Diego National Wildlife Refuge.
- One of 10 institutional-quality assets of its kind in Spring Valley with virtually no comparable sales activity in the past five years.
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