2117 Front St - Apartments FOR SALE


San Diego, CA 92101
$6,825,000 USD
714-423-3819
2117 Front St, San Diego, CA for Sale
$6,825,000 USD
Apartments - FOR SALE
1/20
null | 2.91% Cap Rate

2117 Front St
San Diego, CA 92101


HIGHLIGHTS

  • 2.91% ProForma CAP Rate / Offering actual CAP Rate of 2.30%
  • First time to the market in 20+ years
  • Excellent unit mix of studios, 1 bedroom units, and a rooftop penthouse with unparalleled ocean views.
  • Brand new exterior paint completed 10/14/2024
  • There are several notable developments in the San Diego area, particularly near Bankers Hill, and some linked to SDSU (San Diego State University).
  • Redevelopment Potential / Multifamily Options / Opportunities to utilize San Diego’s density bonus program to build larger projects.

OVERVIEW

Drive by only, please contact Le Investment Group for the full offering memorandum. Bankers Hill is a prime investment and redevelopment opportunity, driven by dynamic growth and high demand. With median home values at $1.2M (+10% YoY), median sale prices are (+12% YoY), and average rents of $3,432, the neighborhood boasts a strong real estate and rental market. Population and job growth in San Diego continue to fuel housing demand. Exciting developments include the Quince Apartments (262 units with luxury amenities) and 411 Ivy Street (nearly 200 new units). Medical growth, like UCSD Health's new clinic and a planned $40M health center with senior housing, enhances the area's appeal. Redevelopment options range from luxury condominiums and mixed-use projects to affordable housing leveraging density bonuses. With proximity to downtown, Balboa Park, and a growing medical district, Bankers Hill offers historic charm, modern living, and significant appreciation potential for investors. Located at 2117 Front Street in the prestigious Bankers Hill neighborhood of San Diego, this rare multifamily investment opportunity features 13 units, including 10 studios, 2 one-bedroom units, and a stunning rooftop penthouse with panoramic views of downtown San Diego and the Bay. Hitting the market for the first time in over 20 years, this property offers tremendous upside with its exceptional location and significant redevelopment potential. Residents enjoy a walkable urban lifestyle with easy access to Balboa Park, renowned cultural attractions, vibrant dining, and major employment hubs like the nearby medical district. The property’s blend of historic charm and modern amenities, along with its recent exterior updates, makes it a highly attractive rental option. With current rents averaging $1,800 for studios and $3,000 for the penthouse, and room for value-add improvements, this property is poised for strong investment returns.

FOR SALE DETAILS

PRICE

$6,825,000 USD

PRICE/SF

$1,042 USD /SF

# OF UNITS

13

PRICE/UNIT

$525,000

CAP RATE

2.91%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1929

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

5,001 SF

ZONING

MR10, San Diego

APN/PARCEL ID

533-171-06

ASK ABOUT THIS PROPERTY

Anthony LeLe Investment GroupMore Info
714-423-3819

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Anthony LeLe Investment GroupMore Info
714-423-3819

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.