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4674 Firestone St

12 Unit Block of Flats £4,359,225 (£363,269/Unit) 4.75% Net Initial Yield San Diego, CA 92117

Investment Highlights

  • Rare newly built luxury asset with an ideal location in the heart of San Diego, with exemptions from rent control measures (AB-1482) for 15 years
  • High demand unit mix comprised primarily of 1-bedroom floorplans
  • Drought tolerant landscaping, energy efficient lighting, and rooftop solar
  • Luxury living amenities with 10-foot ceilings, premium designer fixtures and finishes, walk in closet, private turf patios, and split-level HVAC
  • Proximate to the beach communities and Tier 1 employment centers such as, Downtown San Diego, UTC, Mission Valley, and Kearny Mesa

Executive Summary

Zorbas Huffman & Partners is pleased to present 4674 Firestone Street, a rare opportunity to acquire a newly constructed pride of ownership asset in the desirable Clairemont neighborhood of San Diego, CA. The asset features a combination of brand new, detached townhome style construction with contemporary design, behind two luxurious and fully renovated street facing units.
The property boasts a unit-mix of one (1) three-bedroom / two-bathroom single family residence with 953 square feet, one (1) one-bedroom/one-bathroom unit with 375 square feet, and ten (10) newly constructed one-bedroom/one-bathroom units with 441 square feet. The single-story units have undergone extensive luxury renovations, with no expenses spared, and the finished product of the newly constructed units is superior in kind and most important to quality. Interiors feature plenty of natural sunlight and are appointed with 10-foot ceilings, oversized windows, premium designer fixtures and finishes, granite waterfall countertops, wood cabinetry, stainless-steel appliances, luxury vinyl-plank flooring, custom tile shower enclosures, ample closet space, recessed and pendant lighting, ceiling fans, split-level HVAC systems, private turf patios, and in-unit washers and dryers. Tenants enjoy a large outdoor common area with a
gazebo, BBQ area, and lounge chairs. Additionally, the property is located in a low-density residential neighborhood with ample street parking available for all tenants.
Situated away from the hustle and bustle of beach communities and bordered by Interstates 805, 5, and 8, as well as Highway 52, Clairemont offers one of the most convenient living experiences in San Diego. This location provides quick access to all that San Diego has to offer, including the picturesque Mission Bay and the Southern California coastline, as well as major workforce centers including UTC, Kearney Mesa, Mission Valley, and Downtown San Diego. With its premium location, innovative design offering tenants privacy, and luxurious enhancements, 4678 Firestone Street provides investors with the rare opportunity to acquire a pride of ownership asset that is poised to capture rental premiums for generations.

Property Facts

Price £4,359,225
Price Per Unit £363,269
Sale Type Investment
Net Initial Yield 4.75%
Gross Rent Multiplier 14.11
No. Units 12
Property Type Residential
Property Subtype Apartment
Apartment Style Garden
Building Class B
Building Size 5,738 SF
Number of Floors 2
Year Built 2024

Unit Amenities

  • Microwave
  • Refrigerator
  • Oven
  • Range
  • Tub/Shower

Site Amenities

  • 24 Hour Access

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
1+1 11 - 375 - 441
3+2 1 - 953
  • Listing ID: 33087432

  • Date on Market: 06/09/2024

  • Last Updated:

  • Address: 4674 Firestone St, San Diego, CA 92117

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