Niima 2519 El Cajon Blvd 55 Unit Apartment Building $25,995,000 ($472,636/Unit) 4.63% Cap Rate San Diego, CA 92104

Completed in 2024, Niima is a 55 unit apartment complex with a total net rentable area of approximately 34,391 square feet and an average unit size of 574 square feet. Positioned along El Cajon Boulevard, the building benefits from a highly visible location within one of North Park’s most lively corridors, placing residents within immediate proximity to the neighborhood’s restaurants, craft breweries, and boutiques. Niima redefines urban living through its pioneering use of cross-laminated timber (CLT), a sustainable mass timber construction method that enables expansive, open-concept interiors while introducing a natural warmth rarely found in traditional multifamily development. This construction approach also allows for design features such as floating balconies, seamlessly integrated into the mass timber floor plates, creating a natural transition between interior and exterior living spaces. This design approach ultimately transforms each residence into a resort-like living experience. The property features 3,315 square feet of a ground-floor restaurant, contributing to the area’s vibrant mixed-use character. Residences offer thoughtfully designed floor plans with modern kitchens, quartz countertops, energy-efficient appliances, and 16-foot exposed wood ceilings, complemented by expansive windows that provide abundant natural light. Most units offer private patios or balconies, creating a seamless indoor-outdoor living experience.