921 Regal Rd - 921-937 Regal Rd, Encinitas 10 Unit Apartment Building Offered at $6,799,999 at a 3.50% Cap Rate Encinitas, CA 92024

A newly renovated coastal Encinitas multifamily trophy asset with quality upgrades, strong in-place income, and long-term upside in one of Southern California’s most supply-constrained rental markets.
Introducing 921–937 Regal Road, a rare opportunity to acquire a newly renovated 10-unit multifamily property in the highly desirable coastal community of Encinitas. Completed with extensive renovations and new construction improvements finalized in January 2025, this exceptional investment consists of two separate APNs and offers a highly attractive unit mix of five (5) one-bedroom / one-bath units and five (5) two-bedroom / one-bath units.
The property has undergone a comprehensive, institutional-quality transformation featuring newly constructed and fully remodeled residences designed to meet the expectations of today’s coastal renter. Interior upgrades include modern quartz countertops, renovated kitchens and bathrooms, tile flooring throughout, updated electrical systems, new AC units serving the newly built units, and a new roof.
Each residence offers abundant natural light, large private enclosed backyards, and mature landscaping that creates a unique residential environment rarely found in multifamily investments of this scale. The property combines modern improvements with a low-density coastal living experience that strongly differentiates it from traditional apartment product throughout Southern California.
Located in one of North County San Diego’s most desirable rental markets, the property benefits from proximity to beaches, employment centers, retail amenities, restaurants, and major transportation corridors. Encinitas continues to experience strong rental demand driven by limited housing supply, high barriers to entry, and affluent demographics.
921–937 Regal Road represents a rare opportunity to acquire a turn-key coastal multifamily asset with minimal deferred maintenance and significant long-term investment appeal. Property could also be sold separately at $3,400,000 each.