MONTECITO APARTMENTS SAN DIEGO, LP
We are pleased to offer the Montecito Apartments San Diego, LP (MCSD) as an Equity Investment only at this time, with the Preferred raise to take place at time of construction approx. 9-12 months later.
This development project is in the core of the sought out rental markets in San Diego (Hillcrest). The property is just 2 blocks away from both Scripps Mercy Hospital and UC San Diego Medical Center. As well as only a few blocks north of all the retail and restaurants on Washington St., Fourth Avenue and University Avenue. Due to the superior location of this project we are anticipating some of the highest rents of all San Diego. The project consists of tearing down a house and developing 15 apartments. All the demo, construction, and lease up will be completed in the first eighteen months. The goal will be to sell the asset near the end of the 3rd year.
If you have any questions or concerns regarding any of this information presented here, please feel free to contact me or Andrea Powers at (949) 851-2020.