ACRE Investment Real Estate Services is pleased to present Felton Court Apartment Homes (the “Property”), an attractive rental community that presents real estate investors the opportunity to acquire a well-maintained, value-add opportunity in San Diego’s city of North Park. The property is being offered free and clear of any debt encumbrances.
The Property benefits from a desirable and convenient location adjacent to Normal Heights, within blocks to the 805 Freeway and in the North Park metro corridor. The property is situated in an area characterized by quiet residential communities, schools and neighborhood retailers.
The Property consists of a beautiful, lushly landscaped garden setting on a 21,780 square feet lot. A Huffman-style building constructed in 1968 and renovated in 2014, the complex has continuously been maintained through capital improvements and has additional value-add potential through further interior renovation.
Felton Court Apartment Homes offers 27-Units situated in 1 residential building. The Property’s well designed floor plans include 9 two-bedroom, one-bath units, 3 two-bedroom, two-bath units and, 15 one-bedroom, one-bath units. The total rentable square foot is 18,993 square feet.
The Property provides an array of amenities including A/C, a modern laundry facility, 10 garages, on-site assigned parking, control access entry gates and a large common patio area.
The Property provides an opportunity to acquire a mid-sized multifamily asset in one of the highest demand rental submarkets in San Diego. The new owner will enjoy the security of having the property situated near comparable apartment communities, local shopping, restaurants, as well as having easy access to the 805 Freeway. With upside in rental income, this offering is perfect for the long term investor seeking a pride of ownership asset with a strong current and future cash flow.
