409 4Th St, Encinitas, CA 92024

Southwest Equity Partners is pleased to present the opportunity to acquire Moonlight View Apartments, a trophy asset in one of San Diego County’s most desirable addresses at 409, 417-423 4th St. in Encinitas, CA.
Moonlight View Apartments is a 10-unit multifamily property located just above Moonlight beach, the heart and soul of Encinitas in the Downtown Encinitas, CA submarket. The property sits across the street from the Moonlight Beach Parking Lot and beach recreation area, offering many unobstructed ocean views and many social events throughout the year and represents a generational purchase opportunity with true value-add potential. Buyers have the opportunity to acquire a cash-flowing, high-performing multifamily property in one of the most high-barrier to-entry markets in the entire United States, with the opportunity to execute a value-add strategy based on rent comps that will attain a rent premium of more than 20%, depending on the value-add strategy the Buyer pursues could be ADUs, short term rentals, or a combination of the two.
The property features 10 apartment residences, 2 - two-bedroom two-bathroom penthouse units, 1 - two-bedroom one-bathroom unit, and 7 - one-bedroom one-bathroom units. Each residence has received minor to major improvements over the current owner’s 30+ year hold period. The community also features eight garages and 11 open spaces for additional parking. Each residence has gas appliances, gas wall heaters, stacked washer and dryer units in all but two apartments, semi-private outdoor space, and balconies for almost all units, and upgraded finishes.
The property features garage and parking spaces, an onsite laundry facility with owned equipment and a three-building footprint on appx. 0.33 acres (1 – 9,768 sf parcel and 1 – 4,720 sf parcel). All but one unit are separately metered for gas & electricity.
Encinitas is a high-demand coastal market, with over 6 miles of Pacific Ocean frontage and appx. 80,000 residents. The rental rates in the region have grown substantially over the last few years, and vacancy continues to trend at under 3% for several years running. The quality of life in the city is unparalleled in San Diego, with a historic downtown core featuring hyper-local retail, restaurants and beach access while the suburban Encinitas region east of Interstate 5 features big-box retail, numerous city parks, high-end single family homes, numerous outdoor amenities and quick access to both the Coaster, Amtrak Pacific Surfliner and Interstate 5.