Berkadia, as exclusive advisor, is pleased to offer for sale the Loma Manor Apartments located in Point Loma, one of San Diego’s most desirable residential locations. Loma Manor is an 18-unit apartment community featuring a great mix of one-bedroom and two-bedroom units. Residents enjoy the property’s open interior courtyard, lush landscaping, and close proximity to several recreation and retail amenities. Loma Manor is located in the heart of the highly desirable Point Loma neighborhood near Shelter Island, the La Playa district and Liberty Station, as well as Interstates 5 and 8 linking the property to all of San Diego County.
VALUE ADD OPPORTUNITY
Loma Manor offers an investor the opportunity to take advantage of tremendous rental upside potential which can be achieved through implementing an interior renovation program on all 18 units. As of today, only two of the 18 units have been renovated. Recommended interior upgrades include new kitchen cabinets, quartz countertops, new stainless-steel appliances, new bathroom vanities, and plank vinyl flooring. Investors can also maximize ancillary income through the implementation of RUBS, pet rent, and parking income.
PRIME COASTAL LOCATION
Located in the seaside community of Point Loma, Loma Manor is a short distance from the San Diego Bay, Harbor Island, Shelter Island, Cabrillo National Monument, and Sunset Cliffs offering residents beautiful views and an abundance of recreational activities. Aside from its natural beauty, Point Loma has consistently produced some of the county’s most impressive demographic statistics. In 2018, average household income in the area was $100,116, the median home value is $784,000, and over 50% of the community’s residents hold a bachelor’s degree.
PROXIMITY TO RETAIL
Featuring a walkscore of 82, Loma Manor offers immediate access to an array of eateries such as, Starbucks, Better Buzz Coffee, Pizza Nova, Jimmy’s Famous Tavern, Mitch’s Seafood, Point Loma Seafoods, and Sushi Lounge. Surrounded by over 2.2 million square feet of existing retail, Loma Manor is also located less that one mile from what serves as the community’s town center, Liberty Station. With grocery stores, restaurants, retail centers, movie theatres, and malls all within minutes of the property, Loma Manor residents are guaranteed to have their retail needs covered.
Loma Manor offers high visibility due to its frontage along Rosecrans Street, Point Loma’s most significant thoroughfare lined with vast retail amenities. Additionally, the property’s immediate location at the intersection of Ingelow Street and Rosecrans Street provides excellent exposure with a traffic count of 34,131 average daily trips. The property’s ideal location gives investors the distinct advantage of saving thousands on marketing and advertising expenses.
NUMBER OF UNITS
AVERAGE RESIDENTIAL UNIT SF
TOTAL RENTABLE SF
1518 Rosecrans Street, San Diego, CA 92106
14 Total Spaces
Unit / Type
1 BR / 1 BA
2 BR / 1 BA
Loma Manor is located in Point Loma, one of San Diego’s most coveted seaside neighborhoods. This coastal community is situated just west of Downtown San Diego. Point Loma is home to Naval Base Point Loma, the renowned Point Loma Nazarene University, and the laidback beach town of Ocean Beach. The economy of Point Loma is supported by military facilities, neighborhood retail, and marine recreation. Loma Manor provides picturesque views of the Pacific Ocean and easy access to the world-famous Sunset Cliffs and beaches of Ocean Beach. Located two miles from Loma Manor has an eclectic variety of restaurants, breweries, coffee shops, boutiques, artist’s studios, and live entertainment in the charming peninsula town of Point Loma.
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
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