2139 Balboa Ave - Balboa Pointe Townhomes - Parcel 3 4 Unit Apartment Building Offered at $2,900,000 at a 4.44% Cap Rate San Diego, CA 92109

Whitewater Commercial Real Estate is pleased to exclusively present Balboa Pointe Townhomes – Parcel 3, an exceptionally rare brand new constructed 4-unit multifamily investment opportunity located in the heart of Pacific Beach. Delivered in 2026, the property represents the first completed property within a seven-property, 28-unit residential development currently under construction and being delivered throughout the project.

As the first completed offering available for acquisition, Balboa Pointe Townhomes – Parcel 3 provides investors with a unique opportunity to purchase newly constructed coastal multifamily product in one of San Diego’s most supply-constrained rental markets, where the majority of existing inventory consists of older vintage units and opportunities for new multifamily development remain extremely limited.
Balboa Pointe Townhomes – Parcel 3 consists entirely of townhome-style residences, featuring an attractive unit mix of two spacious 2 Bed / 2.5 Bath units and two well-designed 1 Bed / 1 Bath units. The larger 2-bedroom residences feature private fenced front yards with professional landscaping, creating a unique single-family-home feel rarely found in multifamily coastal product. The property also includes three covered carport parking spaces, a highly desirable amenity in Pacific Beach.