La Jolla Apartments
For sale10 Nobel Dr, San Diego, CA 92122
Property type
Multifamily
Unit / Space count
8
Price
$2,200,000
Year built
1964
APN
7101-002-025
Lot size
16,392 SF
Unit mix
8 2br
CAP
5.12%
Building size
6,768 SF
Property description
Positioned in one of San Diego’s most desirable coastal communities, this multifamily offering represents a rare opportunity to acquire a well-located residential asset in a market defined by exceptional barriers to entry, enduring renter demand, and an extremely limited supply of comparable properties. The property benefits from its proximity to world-class beaches, major employment and educational centers, premier shopping and dining, and the lifestyle amenities that continue to make the La Jolla area one of Southern California’s most sought-after places to live. The investment combines an established income-producing property with compelling long-term value creation potential. Existing operations provide a strong foundation while the opportunity to capture higher market rents creates a meaningful path to future income growth and enhanced asset value. Supported by irreplaceable real estate, favorable multifamily fundamentals, and the scarcity of investment opportunities within the surrounding coastal market, the property offers investors an exceptional combination of current income, embedded upside, and long-term appreciation potential.
Property highlights
- Value-Add Upside Opportunity to increase Net Operating Income through strategic unit renovations, operational efficiencies, and market rent growth. Below-market in-place rents provide meaningful upside potential.
- Strong Occupancy & Stable Cash Flow Well-maintained asset with a history of high occupancy and consistent rental income, providing investors with reliable cash flow from day one.
- Prime Location Located within a high-growth submarket with convenient access to major employment centers, retail, dining, schools, and transportation, supporting long-term tenant demand.
- Attractive Investment Fundamentals Benefit from favorable demographic trends, strong population and job growth, limited new supply, and sustained rental demand that support long-term appreciation.