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44-Unit Multifamily Investment

San Diego

The Wightman Place Apartments
44 Units – 5052 Wightman Street

San Diego 92105

44-Unit Affordable Multifamily Investment/
Apartment Building In San Diego

The Von Bluecher Group – The Lee & Associates San Diego Multifamily team, was 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.

The Team executed our multiple phase marketing process, generating nine offers from both investors and brokers, and represented both the Buyer and the Seller with a final contract price just over asking.

Contact us if interested in more information or an evaluation for your multifamily investments.

  • 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

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.

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.

760-929-7846

evb@lee-associates.com

1902 Wright Place, Suite 180
Carlsbad, CA 92008, USA

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