5005 Diane Ave, San Diego, CA 92117

The Royal Diane Apartments is a 27-unit garden-style apartment community located in the Clairemont submarket. The property offers investors the opportunity to acquire a strategically located asset with significant upside near major retail centers and employment hubs in San Diego. The property consists of eight 1 Bed / 1 Bath units (650 SF) and nineteen 2 Bed / 2 Bath units (1,100 SF). Community amenities include secure gated access, on-site parking with 27 spaces, and on-site laundry. The floor plans feature large bedrooms, dedicated dining areas, large storage closets, storage nooks, and private balconies or patios. There is significant rental upside by completing further interior renovations. Most units have already received various interior upgrades including new LVP flooring, refreshed kitchen cabinets, and new appliances. Current ownership has recently completed significant capex projects including a new roof in 2024, updated electrical panels (main panel & individual interior panels), and new exterior paint. The building also recently passed SB 721 inspections. The property is located directly across the street from a major retail center and is also near numerous other grocery stores, restaurants, and shopping destinations. Residents enjoy easy access to both the I-805 and the 52 Freeways and are within a 10-15 minute drive of La Jolla beaches and San Diego’s most notable employment hubs such as University City, Kearny Mesa, Mission Valley, and downtown, ideally positioning the property to benefit from future nearby job growth.