Fidelity Business Partners presents an institutional-grade opportunity to acquire a 14-unit multifamily asset in the high-density Mid-City submarket of San Diego. The property was acquired at a responsible basis of $200,000 per unit, with in-place rents currently trailing market rates by nearly 50%.
Our business plan focuses on “manufacturing” equity through a $300,000 capital improvement program. Key initiatives include modernizing unit interiors with stainless appliances, enhancing exterior curb appeal, and executing a high-value garage-to-ADU conversion that increases the total unit count from 14 to 15. By diversifying income streams—including repositioning select units as short-term rentals—the Sponsor expects to increase Net Operating Income (NOI) by 98% by Year 2.