428-38 Rosemont Street, La Jolla.
Six units on a flat corner lot in Windansea, two blocks from the bluff. Four are vacant and ready for renovation. Two are tenant-occupied and stabilized.
Two blocks from Windansea, on a 9,227 square foot corner lot with dual street frontage. The kind of parcel they don't zone anymore.
The Rosemont Six is a stabilized coastal multifamily property in Windansea, La Jolla's Mediterranean village. Six rental units across two stories of block construction, anchored on a flat 95 by 100 foot corner lot with frontage on both Rosemont Street and Electric Avenue, plus alley access to four single-car garages.
Of the six units, four are currently vacant and renovation-ready. Two two-bedroom, two-bath floor plans at roughly 900 square feet, two two-bedroom, one-bath plans at 800 square feet, and two one-bedroom, one-bath plans at 600 square feet. The unit mix is built for the renter La Jolla actually has: a tenured tech and biotech professional who wants to walk to the bluff before work.
Long-term market rents pencil at $29,800 monthly. Short-term and Airbnb operations reach $50,000 monthly. The four ten-by-twenty-four garages can be converted to 240 square foot studios for an additional $127,000 of annual income at current market rents. The asset is offered at $5,250,000 against an estimated stabilized market value of $6,900,000.
0.2 miles to Neptune Place and Windansea Beach. A coastal bluff with Pacific views in walking distance.
9,227 square feet, flat and usable, with dual street frontage and alley access. RM-1-1 zoning.
$29,800 monthly at long-term market rate. Short-term operations push the gross to $600,000 annually.
Four single-car garages convert to 240 sqft studios at $2,650 monthly. An additional $127,000+ per year.
The unit mix and income figures, set out the way an investor reads them. Long-term market rents stabilized; short-term and conversion upside layered on top.
Four ten-by-twenty-four garages convert to 240 sqft studios at $2,650 per month. An additional $127,000+ per year.
Estimated stabilized market value of $6,900,000. Listed at $5,250,000. Last sold May 2024 at $3,800,000.
Adjust the down payment, the rate, and the term. The monthly debt service updates as you go. Indicative only.
Estimate is principal and interest only. Property tax, insurance, and any operating expenses are not included. For commercial financing terms, contact the listing agent.
Windansea is the south-coast village of La Jolla, organized around the surf break at Neptune Place and the Mediterranean blocks behind it. Year-round mild weather, mid-fifties to mid-seventies. A walkable retail and restaurant strip on La Jolla Boulevard. The bluff is two minutes on foot.
The local economy is anchored by education, healthcare, biotechnology, research, and professional services. UC San Diego, Salk, Scripps, and the Torrey Pines biotech corridor sit minutes north. The renter base for properties like the Rosemont Six is professional, tenured, and price-insensitive within reason.
Private showings for qualified buyers and 1031 exchange parties. Vacant unit walk-throughs available with 24 hours notice.