3046 Nimitz Blvd San Diego, CA 92106

Property Details for 3046 Nimitz Blvd

Year built

2023

Property type

Commercial real estate

Description

This exceptional 9-unit apartment building, completed in 2023, presents a rare opportunity to acquire a newly constructed luxury asset in the highly desirable Point Loma neighborhood of San Diego. The property boasts a prime location, just two blocks from America's Cup Harbor and less than a half-mile from Liberty Station. Each of the nine three-story townhomes features a unique design, with eight one-bedroom/one-bathroom units averaging 568 square feet and one larger one-bedroom/two-bathroom unit at 799 square feet. One unit is designated as Moderate Income. Residents enjoy luxurious amenities including private rooftop decks offering stunning San Diego Bay and city views, single-car garages, designer kitchens with quartz countertops, stainless-steel appliances, in-unit washers and dryers, and extensive insulation for quiet living. The property's strategic location offers easy access to Interstates 5 & 8, downtown San Diego, the airport, and Little Italy, boasting an 82 Walk Score. With its proximity to attractions like Point Loma Marina, Humphrey's Concerts by the Bay, and Liberty Station, as well as the Midway Rising Sports Arena Redevelopment project, this property is poised for strong rental income and long-term appreciation. The building's design also presents the potential for adding additional studio units by converting the existing garages into Accessory Dwelling Units (ADUs). The asking price is $5,750,000, representing a price per unit of $638,888.89 and a price per square foot of $1,075.97. The property features a 4.36% cap rate and a total net rentable area of 5,344 square feet.