|Number of units||28|
JLL Capital Markets is pleased to present the opportunity to acquire the Uptown Collection, a 4-property portfolio in the highly sought-after San Diego neighborhoods of North Park and Hillcrest. The portfolio consists of 28 units: 2 studio units, 17 one-bedroom units, and 9 two-bedroom units. The average unit size across to portfolio is approximately 647 sf.
The properties’ locations provide future residents with superior walkability with walk scores in the 80s, and immediate access to over 200 chic dining and nightlife destinations. There are over 395,000 jobs and 37.5 Million square feet of office space within 5 miles of the portfolio. The majority of residents in North Park and Hillcrest are young, urban, professionals, putting them in the prime renting cohort. The demographics of the neighborhoods, along with high housing prices, create consistent renter demand. Uptown is projected to see rents increase 15% by 2025.
The properties in the portfolio represent a rare, value-add opportunity located in premier San Diego locations experiencing strong demographic growth. The properties currently ask below market rents, providing immediate upside to a new owner. Additional renovations can further drive rents across the portfolio to above market rent.
- Exceptional Value-Add Opportunity in Class A Locations
- Walkable Urban Communities
- Favorable Demographics Support Consistent Rental Demand
- Surrounded by Employment & Higher Education