10 Suites + Thriving Tap Room + Outdoor Space 2611 Adams Ave 11 Unit Apartment Building $6,133,428 CAD ($557,584 CAD/Unit) 6.36% Cap Rate San Diego, CA 92116

The Von Bluecher Group at Lee and Associates is proud to present 2611 Adams Avenue, San Diego Multifamily Investment Property, a fully rebuilt 2025 mixed use apartment building investment located in the heart of North Park along the highly desirable Adams Corridor.
This San Diego multifamily and mixed use investment offers diversified income from a stabilized restaurant lease and 10 fully furnished luxury boutique suites, delivering strong in place cash flow in one of the most walkable and supply constrained neighborhoods in San Diego.
The property sits on a 7,009 square foot lot with approximately 3,360 square feet of total building area and includes five on site parking spaces. The building was rebuilt from the ground up in 2025 with modern construction, open floor plans, and high end interior and exterior finishes.
Multifamily and Mixed Use Investment Highlights
The residential component includes 10 fully furnished luxury boutique suites totaling approximately 2,330 square feet. Six units are approximately 285 square feet and four units are approximately 155 square feet. Each suite features a private bathroom, wet bar amenities, and modern finishes, making the property ideal for short term rental, corporate housing, extended stay, or traditional multifamily configurations.
The luxury suites are projected to generate approximately $26,215 per month at an 80 percent average occupancy rate, reflecting strong demand for furnished housing in North Park and the Adams Corridor.
The commercial component includes a 1,030 square foot tap room with a full bar, walk in refrigerator, storage areas, and indoor dining space. The combined square footage of the tap room and outdoor patio totals approximately 3,500 square feet, creating a vibrant indoor outdoor hospitality environment. The restaurant space is leased at $15,000 per month NNN and is anchored by Una Mas on Adams and Gold Soul Craft Coffee, generating consistent activity and neighborhood traffic.
Investment Profile
• Approximately $41,215 per month in combined income
• 6.36 percent cap rate
• 9.09 GRM
• Ground up rebuild completed in 2025
• Potential AB1482 exemption associated with newer construction
*Some income and expense metrics are projected and/or estimated, buyer to verify and conduct their own due diligence.
This North Park apartment building investment benefits from strong neighborhood demand, steady foot traffic, and proximity to restaurants, breweries, retail, and parks. Adams Avenue continues to attract private capital and 1031 exchange buyers seeking stabilized San Diego multifamily and mixed use investment opportunities.
Multiple financing options may be available, including traditional bank financing, SBA financing, hard money, and potential seller financing for qualified buyers.
For additional information, financials, or a confidential property valuation for your own San Diego multifamily investment, please contact The Von Bluecher Group at Lee and Associates.