44-Unit Affordable Apartment Building
San Diego
Wightman Place Apartments
San Diego 92105
44-Unit Affordable Apartment Building
In San Diego
Affordable Housing Community in Central San Diego. 55 Year, Acquisition, Rehabilitation & Permanent Financing Loan Agreement established in 1999.
The Lee & Associates Multifamily Advisory Group has been exclusively retained to bring Wightman Place to market – an Affordable Multifamily investment opportunity, located in an Opportunity Zone, featuring a 55 year affordable housing covenant established in 1999.
- Unit Composition consists of 44 total units; (2) 5+2; (2) 4+2; (6) 3+2 Townhome; (8) 2+2; (26) 2+1
- The property features on-site Laundry, estimated 23 balconies and patios for most units, 44 surface parking plus one garage/storage, estimated (3) 100 gallon water heaters, one office/community center
- The property is an affordable multifamily building with a Acq, Rehab & Perm Finance 7/8/99, 55 year, (48u), modified to 45u. 26u 50% AMI, 18u 60% AMI.
- Recent upgrades include dual paned windows and newly installed roof
PROPERTY DESCRIPTION
A new owner can continue to operate the property as an affordable housing community, while upgrading and maximizing the property condition, amenities and taking advantage of financing and the Property Tax Welfare Exemption.
Wightman Place Apartments is a 44-unit affordable multifamily building located in a CTCAC Low Resource and Opportunity Zone at the heart of central San Diego. Built in 1963, the property comprises an est. six buildings on one large 1.76-acre parcel, offering a unique mix of units that range from one to five bedrooms. Ten of the two-bedroom units feature two-story townhomes with 1.5 bathrooms each. Wightman Place offers an on-site laundry room, approximately 23 balconies for select units, patios for most units, one garage (or storage site) and an estimated 45 on-site parking spaces. Gas and electric are separately metered, and the property’s equipped with three 100-gallon water heaters. Recent renovations include new vinyl plank flooring for select units, dual-paned windows, and a newly installed roof throughout the complex.
The property is an affordable multifamily building with an Acquisition, Rehabilitation & Permanent Finance agreement dated 7/8/99, with a 55-year term. Twenty-six units are designated for 50% AMI, while eighteen units are reserved for 60% AMI. Additionally, 24 units are dedicated to the Home Program.
Wightman Place Apartments’ central location provides easy access to the 15, 805, 94, and 8 freeways, with University Avenue, offering a diverse mix of restaurants, markets, and places of worship, being the closest main street.
