Description

Pleased to present a rare opportunity to acquire a highly renovated, luxury community in the Pacific Beach neighborhood of San Diego. Board House Villas is comprised of 10 total apartment units offering 6,609 rentable square feet. Originally constructed in 1970, this property has undergone an extensive renovation completed in 2022 including interior, exterior, major systems, and many additions. 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. The major systems have been replaced which were completed with City of San Diego building permits and inspections. 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. Board House Villas offers investors the rare opportunity to acquire a turnkey property in one of San Diego’s most desirable rental markets. This stabilized asset is walking distance to Mission Bay and is positioned for long term appreciation and rent growth for the years to come. Pacific Beach is a high demand rental market with low vacancy rates because of the proximity to the beach, Mission Bay, and hundreds of local bars, shops, and attractions. This asset has been strategically renovated and positioned in a market lacking luxury product with the investor’s longevity in mind.