THE OPPORTUNITY

A brand-new condominium-quality apartment community

Berkadia is pleased to present the exclusive opportunity to acquire Elevon Lofts (the “Property”), a brand-new, condominium-quality apartment community situated in the heart of North Park. Located just north of Downtown, North Park is known for its urban activity and vibrant business district that is filled with an eclectic mix of antique stores, boutique-style dining establishments, coffee shops, a mixture of retail shops, and restaurants. Boasting a walk score of 90, Elevon Lofts is characterized by its irreplaceable location. Elevon Loft’s condominium-quality apartment homes include stainless steel appliances, quartz countertops, luxury vinyl plank flooring, custom tile design in bathrooms, and in-unit washer/dryers. Select homes feature 10-foot ceilings and private balconies with stunning views of Downtown. Featuring 10 apartment homes, the unit mix consists of studio, one- and one-bedroom plus den floorplans with an average unit size of ±880 square feet. The Property was developed with the highest quality materials and the upmost detail for a deluxe living experience.

INVESTMENT HIGHLIGHTS

CORE NEWLY CONSTRUCTED APARTMENT COMMUNITY

Completed in 2019, Elevon Lofts was designed by De bartolo & Remanic Design Studio. Their clean lines, efficient layout and award-winning designs are featured in many of San Diego’s recently constructed urban infill projects. The property incorporates an exceptionally sleek and modern design with eye-catching details and an attractive, contemporary color palette. Elevon Lofts redefines luxury living, offering an unparalleled living experience for its residents.

VIBRANT NORTH PARK NEIGHBORHOOD

Elevon Lofts is centrally located in North Park just minutes from downtown, Balboa Park and San Diego International Airport. From the art lover to the music enthusiast, fashionista to the foodie, North Park offers a wholly authentic experience for everyone. The epicenter of North Park is the bar-hopping intersection of University Avenue and 30th Street, which holds claim to being “the best beer neighborhood in the nation,” thanks to numerous craft-beer establishments such as Toronado, Tiger! Tiger! and Modern Times Flavordome. Craft cocktails are also a mainstay with bars like Bar Pink and Seven Grand offering creative concoctions. The neighborhood pulses with great restaurants, shops, entertainment and art blocks, such as Ray Street, which boasts dozens of galleries, live theater and musical shows. The historic Observatory North Park, in the heart of the business district, offers an impressive year-round concert line up.

ULTRA-LUXURY

Constructed with the utmost consideration for the resident’s comfort and convenience, Elevon Lofts features condominium quality finishes. Rich interior luxuries include: ten-foot ceilings, luxury vinyl plank flooring, quartz countertops, StyleLite cabinetry in kitchens and bathrooms, stainless-steel appliances, Kohler en Grohe fixtures, custom tile design in bathrooms, and 4” can light fixtures. Select units include private balconies with views of Downtown San Diego that create an indoor-outdoor living experience.

PROXIMITY TO EMPLOYMENT

The community has excellent proximity to major employment centers including Downtown San Diego and Mission Valley. Downtown San Diego is home to more than 5,000 businesses, 85,000 employees, and over 10 million square feet of office space. Employment opportunities in the Hillcrest/North Park area include Scripps Mercy Hospital, Kindred Hospital, and UCSD Medical Center.

THE ASSET

Timeless design, modern luxury, prime location

PROPERTY SUMMARY

ADDRESS

NUMBER OF UNITS

AVERAGE RESIDENTIAL UNIT SF

TOTAL RENTABLE SF

YEAR BUILT

TOTAL ACREAGE

3767 Bancroft Street San Diego, CA 92104

10

892 SF

8,914 SF

2018

0.14 Acres

UNIT MIX

Units

1

2

2

1

4

10

Unit / Type

1 BR / 1 BA

Studio

1 BR / 1 BA

1 BR + Den / 1BA

1 BR + Den / 2 BA

 

Size

561

513

676

1,039

1,235

8,914

AMENITIES

UNIT AMENITIES

  • Central Air / Heat
  • In-Unit Frigidaire Washer / Dryer
  • Luxury Vinyl Plank Flooring
  • 10 FT Ceilings*
  • Arcadia Casement Windows
  • Milgard Sliding Doors
  • Large Balcony on Select Units
  • Indoor-Outdoor Living
  • Custom Tile Design in Bathroom
  • Fully-Equipped Kitchens with Stainless Steel Appliances
  • Gas Stove
  • Glass Subway Tile Backsplash
  • Quartz Countertops in Kitchen and Bathroom
  • StyleLite Kitchen Cabinets in Artic & Slate with Velvet Finish
  • Inset Mirror Cabinets in Bathroom
  • StyleLite Bathroom Cabinets in Sienna Teak
  • 4" Can Light Fixtures
  • Downtown Ocean Views**

*Some areas have lower ceiling heights

**From select units

COMMUNITY AMENITIES

  • Fob System Access
  • Covered Parking**
  • Bicycle Storage
  • Pet Friendly Community
  • Secured Gated Access
  • Proximity to Endless Retail, Eateries, and Entertainment
  • Easy Access to Public Transportation and Freeways
  • Recessed LED Channel Lighting Design in Hallway

**Select Units

LOCATION

Elevon Lofts is located in the thriving community of North Park

NORTH PARK COMMUNITY

Elevon Lofts is located in the thriving neighborhood of North Park in San Diego, California. North Park is situated to the northeast of beautiful Balboa Park and Downtown San Diego and in close proximity to Interstate 805, providing residents with easy access to all of San Diego County.

The North Park Community, and in particular, the downtown hub, is experiencing a renaissance of activity, with the community gaining widespread recognition as a center for the arts, dining, and entertainment. North Park’s downtown core, anchored by the nearby 30th Street and University Avenue intersection, contains a treasure trove of eclectic and historic architecture as well as an array of trendy restaurants, independent coffee shops, and microbreweries.

The area’s newly-established professional class of artists, designers, musicians, writers, and other creative entrepreneurs, combined with a broad array of colorful and imaginative cultural events have transformed North Park into a widely recognized “Creative Community.” Today’s North Park plays host to an ever-increasing array of art galleries and studios, performing arts groups and venues, dance studios, architects, and local art projects including the recently renovated, historic Birch North Park Theatre (now known as Observatory North Park) and the Ray Street Arts District, the largest and longest running art walk in San Diego’s history.

ECLECTIC EATERIES

Foodies find their solace within North Park. The neighborhood boasts some of the most unique eateries and restaurants in the city, all within walking distance of one another. North Park is a true food lover’s sanctuary, including premium sushi, vegetarian cafes, gourmet coffee shops, artisan ice cream, deliciously crafted waffles, and brunch spots.

NIGHTLIFE

North Park’s nightlife scene has been gaining momentum as one of the most popular destinations for the San Diego locals. The region nods its head at its roots within the Capital of Craft, with tasting rooms, beer bars, and breweries lining the streets of North Park. 30th Street is receiving national recognition as one of the most recognizable beer streets. However, the region also offers a haven for craft cocktail and wine lovers as well.

BOOMING RETAIL

North Park was the place to shop through the 1950s. Although decades of decline followed the rise of regional malls, North Park is flourishing again. North Park’s lineup of shopping stores and boutiques is just as eclectic, unique, and diverse as the neighborhood itself, each shop with their own particular flavor while still retaining that classic North Park vibe.

COMMUNITY EVENTS

Several weekly and annual events are held in North Park including the North Park Farmer’s Market which takes place every Thursday and has been listed as one of the top 40 in the USA. They feature over 35 independent vendors; locally grown produce / flowers; gourmet / ethnic foods; arts and crafts; books; and, often, live music.

GALLERY

CONTACT

Experts here for you

Investment Advisors

tyler sinks

CA BRE #01910220

tyler.sinks@berkadia.com

858.257.4706

ed rosen

CA BRE #01010225

ed.rosen@berkadia.com

858.257.4715

BERKADIA SAN DIEGO

4275 Executive Square, Suite 900

La Jolla, CA 92037

Phone: 858.683.7930

Berkadia.com

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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