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5160 69th St

7 Unit Block of Flats £2,734,663 (£390,666/Unit) 4.88% Net Initial Yield San Diego, CA 92115

Investment Highlights

  • New construction completed March ‘24
  • Diverse mix of one, two, and three-bedroom units
  • Drought tolerant landscaping, drip irrigation, energy efficient lighting, and rooftop solar
  • Close proximity to SDSU making this asset ideal for student/ faculty housing
  • Premium designer fixtures and finishes, in-unit washers & dryers, HVAC systems, and select units with patios or balconies, and high ceilings
  • Market-rate/ New construction asset provides shelter from California AB-1482 rent control measures

Executive Summary

Zorbas, Huffman, & Partners of Marcus & Millichap, as the exclusive listing agent, are pleased to present Atlas on 69th, an exciting multifamily development located at 5160 69th Street in San Diego, California. The asset features a fully renovated 3-bedroom/2 bathroom plus den single story unit, and six newly constructed units comprised of four 1-bedroom/1-bathroom units and two 2-bedroom/1-bathroom units. This pride of ownership asset presents a very well thought out and refined design concept with no expense spared.
Unit Interiors feature a profusion of natural sunlight with luxury fixtures and finishes, complimented with smart home keyless entry, recessed LED lighting, designer ceiling fans, high-end entries and flooring, quartz countertops, custom backsplash, full appliance packages, custom bathrooms, in-unit laundry, ample closet space, and ductless split HVAC systems. Select units feature high ceilings and private patios. Community amenities include beautiful drought resistant landscaping design with drip irrigation, lighted pathways, and gated interior common area for the detached three bedroom unit. The project also boasts solar rooftop arrays, reducing utility costs for tenants, and with a utility bill back system in place further reducing utility costs for ownership.
The area provides the ultimate convenience to beautiful parks with manicured green space, with modern joint-uses, great scenic walking trails and jogging areas, easy freeway access, and an abundance of restaurants, shopping, and coffee shops. The centralized location is proximate to Mission Valley, University Towne Center, downtown San Diego, and pristine Southern California coastline. Interstates 8, and El Cajon Boulevard provide easy corridor access to major employment centers countywide and residents are just a short drive from Sea World, Balboa Park (home to the iconic San Diego Zoo), and Mission Bay. San Diego State West Campus and Snapdragon Stadium rest just north of the property, along with several regional medical facilities, and thousands of acres of additional regional green spaces.
This pride of ownership opportunity is a highly efficient, urban infill project in a desirable centralized location near tier-1 employment centers, poised to deliver compelling returns to investors for generations to come.

Property Facts

Price £2,734,663
Price Per Unit £390,666
Sale Type Investment
Net Initial Yield 4.88%
Gross Rent Multiplier 14.34
No. Units 7
Property Type Residential
Property Subtype Apartment
Apartment Style Garden
Building Class B
Lot Size 0.21 AC
Building Size 4,709 SF
Number of Floors 2
Year Built 2024

Unit Amenities

  • Washer/Dryer
  • Quartz Countertops

Unit Mix Information

Description No. Units Avg. Rent.Mo SF
1+1 4 - 512
2+1 2 - 744
3+2 1 - 1,173
Walk Score ®
Very Walkable (79)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
468-324-36
Land Assessment
£401,547
Improvements Assessment
£621,079
Total Assessment
£1,022,626
  • Listing ID: 32014815

  • Date on Market: 04/06/2024

  • Last Updated:

  • Address: 5160 69th St, San Diego, CA 92115

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