2428 Highland Ave 17 Unit Apartment Building $8,019,900 CAD ($471,759 CAD/Unit) 5.39% Cap Rate National City, CA 91950

We are pleased to present Highland Pacifica Apartments, a newly constructed, luxurious 17-unit community in National City, California. With its perfect blend of design, location, and quality high-end finishes that cannot be found anywhere else in National City, Highland Pacifica Apartments perfectly hits the mark for middle market renters who are gravitating towards the most luxurious product in a submarket with limited supply.
Newly built in 2023, the asset is comprised of 17-units, with a unit-mix of 1 office studio with 200 square feet, 1 studio with 443 square feet, 8 one-bedroom / one-bath units averaging 540 square feet, and 7 two-bedroom / two-bath units averaging 728 square feet. Leaving no detail behind, the community features gated off-street parking and storage lockers. Interiors are spacious and well-appointed with plenty of natural sunlight, premium designer finishes with in-unit washers and dryers, hard surface countertops, undermount kitchen sinks and pull-down faucets, stainless steel kitchen appliances, shaker style cabinetry, hardwood flooring, recessed lighting, split HVAC systems, and private balconies. Located off Highland Avenue in central National City, residents are proximate to unique local dining experiences, breweries, vibrant shopping and boutiques, nightlife, outdoor recreation, historic visitor attractions, and numerous waterfront destinations in the South Bay including the Chula Vista Bayfront development and Silver Strand Beach. National City’s competitive edge is its central location, business industry, and highway connectivity.
The location is proximate to the San Diego Bay, The US-Mexico border, Downtown San Diego (a Tier-1 employment center), The San Diego International Airport, light rail transportation, San Diego State university, and numerous other higher learning institutions. Major employers include the Naval Base an Diego, NASSCO, Paradise Valley Hospital, and National City School District. Notably, the DoD has just significantly increased basic housing allowances for active-duty Sailors in San Diego, to combat nursing costs. With so many positives, Highland Pacifica Apartments is poised to provide meaningful returns for generations.