Another residential asset in San Diego has hit the market. Jackwill Flats, a 28-unit apartment complex has recently been made available for sale in the city’s North Park with an asking price of $16.5 million, or about $589,285 per unit, according to a listing from South Coast Commercial.
Built in 2019, the five-story building is located at 4224 Ohio St. and has a blend of one- and two-bedroom units, and a unique office/retail space on the ground floor. The property spans 20,826 square feet of building space on about 0.6 acres. There are also 18 onsite parking spaces.
“Jackwill Flats is a trophy 28 unit new construction five story complex located in the heart of North Park. It offers a strong unit mix of 1’s and 2’s, a low interest rate assumable loan and a history high tenant occupancy. Built in 2019, the complex offers tenants free highspeed internet, in-unit washer/dryers, custom kitchen cabinetry & countertops, 10’ ceilings and polished concrete floors,” Brendan Flynn, vice president at South Coast Commercial, said.
Due to its newer construction, the property is exempt from AB 1482 rent control regulations, providing additional flexibility for potential owners. The listing also highlights the sustainable low expenses that are expected to continue for the foreseeable future.
Situated at the corner of Ohio & Howard, just off El Cajon Boulevard, Jackwill Flats enjoys a strategic location within North Park, offering a quieter residential feel within the vibrant urban community. North Park, recognized as one of San Diego’s trendiest neighborhoods, boasts a diverse array of housing, strong commercial districts and a thriving arts community. The complex is just a ten-minute walk from the burgeoning restaurant row at University Avenue and 30th Street as well.
