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Pacific Beach 1420 Pacific Beach Dr 8 Unit Apartment Building $10,809,300 CAD ($1,351,163 CAD/Unit) 4.02% Cap Rate San Diego, CA 92109
Investment Highlights
- Eight-Unit Townhome Community comprised entirely of spacious three-bedroom residences with direct-access garages.
- Strong Coastal Rental Demand with long-term upside in ahigh-barrier-to-entry submarket.
- New construction providing a 15 year exemption from California AB 1482 rent control measures.
- Prime Paci?c Beach/Sail Bay Location near a plethora of premier coastal amenities just steps away.
- Recorded condominium map offering a dual exit strategy with the potential for individual unit sales.
- modern design and ?nishes with solar, central heat and air, and individual sub-meters for water.
Executive Summary
We are pleased to present 1420-1422 Pacific Beach Drive, a boutique townhome-style multifamily community ideally located in the heart of Pacific Beach, one of San Diego’s highly coveted coastal rental markets. Nestled near Mission Bay and just minutes from the beach, the property offers residents a premier coastal lifestyle with convenient access to dining, retail, and outdoor recreation.
The property consists of eight spacious three-bedroom townhome residences, featuring a mix of three-bedroom/two-and-a-half-bathroom and three-bedroom/three-bathroom layouts. These highly sought-after larger-format units are highly desirable and cater to a wide range of tenants, including professionals and families. The townhome-style design enhances privacy and livability, supporting strong occupancy and long-term rental stability.
In addition to its strong in-place fundamentals, the property presents a unique value-enhancement opportunity through commercial condominium mapping, allowing a future owner to potentially subdivide the asset into individual units for separate resale. This strategy provides flexibility to partition the property into smaller, more marketable investments, often achieving a higher aggregate value compared to a traditional bulk sale.
Located along the well known Pacific Beach Drive, the property provides immediate access to Mission Bay, the Pacific Ocean, and the vibrant Pacific Beach commercial corridor, known for its restaurants, cafés, nightlife, and recreational amenities. With close proximity to major employment hubs and easy access to key transportation routes, 1420 Pacific Beach Drive represents a compelling opportunity to acquire a well-positioned, income-producing coastal asset with both stable cash flow and a unique upside potential.
The property consists of eight spacious three-bedroom townhome residences, featuring a mix of three-bedroom/two-and-a-half-bathroom and three-bedroom/three-bathroom layouts. These highly sought-after larger-format units are highly desirable and cater to a wide range of tenants, including professionals and families. The townhome-style design enhances privacy and livability, supporting strong occupancy and long-term rental stability.
In addition to its strong in-place fundamentals, the property presents a unique value-enhancement opportunity through commercial condominium mapping, allowing a future owner to potentially subdivide the asset into individual units for separate resale. This strategy provides flexibility to partition the property into smaller, more marketable investments, often achieving a higher aggregate value compared to a traditional bulk sale.
Located along the well known Pacific Beach Drive, the property provides immediate access to Mission Bay, the Pacific Ocean, and the vibrant Pacific Beach commercial corridor, known for its restaurants, cafés, nightlife, and recreational amenities. With close proximity to major employment hubs and easy access to key transportation routes, 1420 Pacific Beach Drive represents a compelling opportunity to acquire a well-positioned, income-producing coastal asset with both stable cash flow and a unique upside potential.
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Property Facts
| Price | $10,809,300 CAD | Property Subtype | Apartment |
| Price Per Unit | $1,351,163 CAD | Apartment Style | Townhome |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 4.02% | Lot Size | 0.20 AC |
| Gross Rent Multiplier | 15.78 | Building Size | 11,136 SF |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2021 |
| Price | $10,809,300 CAD |
| Price Per Unit | $1,351,163 CAD |
| Sale Type | Investment |
| Cap Rate | 4.02% |
| Gross Rent Multiplier | 15.78 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Lot Size | 0.20 AC |
| Building Size | 11,136 SF |
| No. Stories | 2 |
| Year Built | 2021 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2.5 | 3 | $5,002 CAD | 1,401 - 2,802 |
| 3+2 | 5 | $7,665 CAD | 1,339 - 4,056 |
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Fairly walkable
50/100
Very drivable
80/100
Limited public transit
30/100
Very bikeable
80/100
Property Taxes
| Parcel Number | 423-282-14 | Improvements Assessment | $3,192,386 CAD |
| Land Assessment | $2,122,342 CAD | Total Assessment | $5,314,729 CAD |
Property Taxes
Parcel Number
423-282-14
Land Assessment
$2,122,342 CAD
Improvements Assessment
$3,192,386 CAD
Total Assessment
$5,314,729 CAD
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Pacific Beach | 1420 Pacific Beach Dr
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