The Tiffany
2308 Albatross St ,
San Diego, CA 92101
 
$6,950,000
Offering Price
16.80
GRM
$772,222
Price Per Unit
9
Number of Units
3.90%
Cap Rate
10,170
Building SF
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$6,950,000
Offering Price
16.80
GRM
$772,222
Price Per Unit
9
Number of Units
3.90%
Cap Rate
10,170
Building SF
The Tiffany Apartments is a 9 unit building located on Albatross Street in the central San Diego community of Bankers Hill. Originally built in 1979 and consisting of a structure on a 9,476 sq ft lot. The property has a much desired unit mix of all 2 Bedroom/ 2 Bath that are a spacious 1,140 sq ft (on average) each. The complex recently went through an extensive rehab in 2020. The newly completed renovation includes open entertaining living room-kitchen area; beautiful new quartz counters and new custom cabinets and island counter, new stainless appliances, modern fixtures and lighting, new wood plank style flooring throughout, custom bathrooms with tiled showers and glass enclosures, and much more. Majority of units have private patio spaces. There is ample off street secured parking spaces, 15 in total, which is incredibly rare for the area. These include open, carport, and garage spaces. The building has a gated entrance, elevator access from parking to all floors, an on-site laundry room, and private storage. Every unit has spectacular views of Downtown, Coronado, San Diego Harbor, Airport, Point Loma and Pacific Ocean as well. This luxury building has been fully renovated. The Tiffany represents an opportunity for an investor to acquire an absolutely turn-key building in a highly sought after Bankers Hill location.
Bankers Hill, sometimes known as Park West, is a long established uptown San Diego neighborhood near Balboa Park. It is bordered to the north by Hillcrest at Upas St., to the south, past Date Street, by Downtown, to the east by Balboa Park, and the west by Interstate 5 Little Italy and the neighborhood known as Midtown. The area is primarily residential south of Laurel Street and west of 5th Avenue. Many new construction projects are ongoing as of 2009, creating condominiums along 6th Avenue facing the park. Locations further west allow an elevated, panoramic view of Downtown, San Diego Bay, the airport, Coronado, Harbor Island and Mount Soledad. Many homes date from the late 19th century, including some which have been restored as offices or bed-and-breakfast inns. Architects Irving Gill, William Hebbard, Richard Requa and Frank Mead designed homes in this area. The area acquired the name "Bankers Hill" because of its reputation as a home for the affluent. While the core of downtown San Diego is growing rapidly, the outer core neighborhoods are becoming increasingly desirable. Bankers Hill is currently undergoing a major transformation, with multiple new development projects. They are focused on improving the city’s infrastructure while adding additional park
FOR MORE DETAILS CONTACT
Kevin Hemstreet
Managing Principal
(619) 309-9296
hemstreet@scc1031.com
BRE# 01490629
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