New reduced price! We are pleased to present Thomson Five, a newly constructed, fully stabilized 5-unit multifamily asset centrally located in Linda Vista. Completed in 2024 and delivered fully leased, the Property offers brand-new construction with high-end finishes, a premium large-format unit mix, and immediate income with current gross rents of $16,075/month ($192,900 annualized). The Property consists of five residences: two 3-bedroom/3-bathroom townhome-style units at 1,200 SF with private balconies featuring sweeping canyon and ocean views, two 2-bedroom/1-bathroom units at 750 SF, and one detached private studio at 254 SF. All residences feature quartz waterfall countertops, stainless steel appliances, in-unit washer/dryer, split-system HVAC, and private outdoor space. As a newly constructed asset, the Property is exempt from AB 1482 rent control provisions for 15 years from completion, providing exceptional flexibility for future rent growth. Current gross income totals $16,075/month ($192,900 annualized), pro forma of $16,600/month ($200,400 annualized) at market rents. The Property is offered at $2,450,000 ($490k/unit), representing a 5.53% current cap rate (5.82% pro forma), based on current NOI of $135,491. Contact listing broker for OM and financials.
| MLS # | 260012820SD |
|---|---|
| Listing Type | For Sale |
| Style | Mixeduse |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 95 |
| Listing Provided By | Newmark of Southern California | Andrew Kaiser |
| Units | 5 |
|---|---|
| Building(s) | 3 |
| Acreage | 0.15 |
| Cooling | Wall Window Units |
|---|---|
| Heating Yes / No | No |
| Cooling Yes / No | Yes |
| Roof | Composition |
|---|
| State | CA |
|---|---|
| County | San Diego |
| City | San Diego |
| Zip Code | 92111 |
| Area | 92111 Linda Vista |
| Listing VS Median (in 92111) | |
Price: $2,450,000 low | high Med: $3,375,000 On site: 95 low | high Med: 591.5 | |
| State | CA |
|---|---|
| County | San Diego |
| City | San Diego |
| Zip Code | 92111 |
| Area | 92111 Linda Vista |
| Listing VS Median (in 92111) | |
Price: $2,450,000 low | high Med: $3,375,000 On site: 95 low | high Med: 591.5 | |
![]() | $2,715,0002722 Nye StreetSan Diego, CA 92111 |