The Bluffs at Pacifica Apartments 380 Esplanade Ave 64 Unit Apartment Building $39,434,741 CAD ($616,168 CAD/Unit) 6.43% Cap Rate Pacifica, CA 94044

The Bluffs at Pacifica is a beautiful 63-unit oceanfront apartment community located at 360 & 380 Esplanade Ave in the thriving city of Pacifica, California.
Situated on a large 3.26 acre parcel of land, the subject property was originally constructed in 1963/1965 and has a gross building area of approximately 57,367 square feet, offering its tenants beautifully designed three-bedroom, two-bedroom, one-bedroom and studio floor plans. Additionally, tenants at The Bluffs at Pacifica enjoy access to many convenient community amenities including private parking, electric vehicle charging, an on-site fitness center and a resident lounge.
The subject property has undergone significant interior and exterior capital improvements amounting to approximately $1.95 million. Interior improvements include upgraded kitchens, bathrooms, stainless steel appliances, granite countertops, smart thermostats, smart door locks, in-unit washer and dryers, and elegant wood floor finishes throughout, offering tenants a range of modern in-unit amenities. Furthermore, current ownership has invested nearly $7.5 million in reinforcing the bluffs below the premises totaling expenditures to approximately $9.45 million.
The investment appeal of this asset is driven by Pacifica’s strong employment fundamentals and low vacancy levels. With a world-class location in the heart of San Francisco’s Bay Area, The Bluffs at Pacifica presents an attractive choice for Peninsula renters due to close proximity to major employers, transportation corridors, shopping, dining and entertainment options.