5160 69th St
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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.
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 | Property Subtype | Apartment |
Price Per Unit | £390,666 | Apartment Style | Garden |
Sale Type | Investment | Building Class | B |
Net Initial Yield | 4.88% | Lot Size | 0.21 AC |
Gross Rent Multiplier | 14.34 | Building Size | 4,709 SF |
No. Units | 7 | Number of Floors | 2 |
Property Type | Residential | Year Built | 2024 |
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 |
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Walk Score ®
Very Walkable (79)
PROPERTY TAXES
Parcel Number | 468-324-36 | Improvements Assessment | £621,079 |
Land Assessment | £401,547 | Total Assessment | £1,022,626 |
PROPERTY TAXES
Parcel Number
468-324-36
Land Assessment
£401,547
Improvements Assessment
£621,079
Total Assessment
£1,022,626
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5160 69th St
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