Pacific Point Apartments/San Diego, CA

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Multifamily

San Diego, CA

164 Units

Built in 1985

Value Add

A garden-style community weighted heavily toward spacious two-bedroom, two-bathroom homes, which make up 92% of units, complemented by 12 one-bedroom units and a single three-bedroom home.
In-place rents averaging $2,194 per unit sit 15% below pro forma renovated market rents of $2,533, with upside driven.
In-Place and Pro forma rents are currently 38% ($832/unit) and 19.5% ($494/unit), respectively below 80% AMI (Low-Income) rent limits.
Secure, gated access with a swimming pool, playground, picnic area with barbecue grills, on-site laundry, resident parking, and private patios or balconies in select units.
Less than 15 minutes from Downtown San Diego and under five miles from the Pacific Ocean, with immediate Interstate 5 access and easy reach to Imperial Beach,
Minutes from the San Ysidro and Otay Mesa ports of entry, the busiest passenger and commercial land crossings on the U.S
Convenient connectivity via Interstate 5 and Interstate 805 to downtown San Diego, the region's naval bases, Otay Mesa industrial hub, and the retail and service employment corridors of the South Bay.