Description

Pleased to present for sale a portfolio of two highly renovated 10-unit apartment complexes in the Pacific Beach neighborhood of San Diego. With the modernizations completed and leased in 2022-2023, these brand-new properties can be purchased together or separately. Surf House Pacific Beach located at 1468 Hornblend St is comprised of (three) 2-bedroom/1-bathroom units, (six) 1-bedroom/1-bathroom units, and (one) studio/1-bathroom unit. Board House Villas, located at 2121 Thomas Ave, is comprised of (3) 2-bedroom/1-bathroom units, (5) 1-bedroom/1-bathroom units, and (2) oversized studio/1-bathroom units. Surf House Pacific Beach located at 1468 Hornblend St is comprised of (three) 2-bedroom/1-bathroom units, (six) 1-bedroom/1-bathroom units, and (one) studio/1-bathroom unit. This turnkey asset has been highly renovated with a luxurious modern design using high-end materials. Each unit features convenient full-size laundry, brand-new heating and AC systems, contemporary kitchens and bathrooms, and stylish plank vinyl flooring. Select unit living rooms feature roll-up glass garage doors that open to spacious private patios, some of which even offer private hot tubs. Additionally, select units have access to rooftop decks with ocean and bay views. All work has been completed with full City of San Diego building permits and inspection to current code. Currently leased to a successful short-term vacation rental company, the property grants investors the flexibility to continue as-is or rent to long term tenants with one of Pacific Beach’s newest luxury communities. Board House Villas, located at 2121 Thomas Ave, is comprised of (3) 2-bedroom/1-bathroom units, (5) 1-bedroom/1-bathroom units, and (2) oversized studio/1-bathroom units. Each unit is highly renovated with ducted air conditioning and heating, in-unit laundry, a modern design, and all high-end materials. Three of the first-floor units feature roll-up garage doors in the living room that open to large private patios for indoor/outdoor enjoyment. Second floor units feature private rooftop decks with bay views accessed by a custom floating stairway making for a one-of-a-kind apartment living in this coastal neighborhood. In addition to the many features added, the major systems have been replaced which were completed with City of San Diego building permits and inspections.