4111-19 Clairemont Mesa Blvd, San Diego, CA 92117
Offer Price:
$3,300,000
Cap Rate:
4.72%
Price/SF:
$645.79
Price/Unit:
$660,000
Gross Building Area:
5,110 SF
Lot Size:
9,000 SF
Status:
Closed
Submarket:
Central
Property Type:
Apartments
Strategy:
Core
4111 Clairemont Mesa Blvd is a newly constructed & distinctive 5-unit multifamily building located in San Diego, CA. This building features a rare mix of (1) 3 bed/2bath 1100 SF single family ranch-style home & (4) 2023 newly constructed units comprised of (2) 1bed/1baths (790 & 820 SF) and (2) 3bed/2baths (1200 SF). All four of the newly built units are townhome style & offer two-story layouts throughout. This larger range of unit sizes and design makes the property suitable for a range of tenants.
This property has a “spared-no-expense” feel and boasts luxurious finishes such as porcelain countertops, high-end appliances, 10ft high ceilings, custom cabinetry, walk-in closets, stacked washer/dryers, cat 6 plug-ins, mini-splits, as well as outside patio living areas. The building also features (4) on-site paved parking spots and a 2-car garage that provides convenience for all of the tenants.
The location of this building is another major selling point. 4111 Clairemont Mesa Blvd. is situated across the street from the Clairemont Town Square, which features a Vons grocery store, CVS Pharmacy, Starbucks, Subway, Chipotle, and Jersey Mike's Subs, among other restaurants, shops, and services. Having these amenities just a short walk away can be a major selling point for potential tenants and makes this property that much more attractive.
In addition to its prime location, this newly constructed building offers several benefits to consider. For example, 2023 new construction encompasses the building design being held to the latest building codes and safety regulations, which can reduce the risk of unexpected expenses down the line. Additionally, new buildings often require less maintenance and repairs than older properties, which can further reduce costs and save time for property owners.
Lastly, because this property features a single-family house that has been renovated down to the studs, the possibility of an owner-user comes into play and offers that much more opportunity to this offering. Finally, the building is fully solar, which is not only environmentally friendly but can also help to reduce operating costs & may offer tax benefits let alone other financial incentives to property owners.
Overall, this 5-unit multifamily building at 4111 Clairemont Mesa Blvd is a top-of-the-line investment opportunity in San Diego, offering modern amenities, a prime location, and the potential for long-term financial benefits.
Listed By:
Aaron Bove
Senior Managing Director, Investments
aaron.bove@marcusmillichap.com
(858) 373-3237