THE FLATS

The subject property is located just one mile to the west of historic La Mesa Village, a stretch of independent retail shops, quaint restaurants, and local businesses. The site is very well-served by public transportation, with multiple rapid bus lines running along El Cajon Boulevard. Two Green Line Trolley stations – 70th Street Station and La Mesa Boulevard Station – are less than 1.5 miles away from the subject property, providing easy light rail access to San Diego State University, Mission Valley, and Downtown San Diego to the west.

The proposed scope of renovations to the exteriors includes: exterior wood and composite cladding elements, new irrigation and landscaping, repaved parking areas, a new trash enclosure, the installation of a high-speed WiFi system, solar panels, signage, onsite communal laundry room, and all-new common area FF&E. A major component of the renovation plan is a new fire suppression system and fire sprinklers throughout the building interiors. The community amenities – including the pool/spa area and a new small co-working space – will also undergo a thorough cosmetic renovation and be rebranded with attractive finishes such as a large-scale mural.

The unit interiors were renovated by the seller within the last ten years but will also undergo minor cosmetic upgrades. The interior scope of renovation includes: fresh paint, new front doors, and remodeled kitchenettes with new hard surface countertops, small tile backsplashes, cabinetry, and appliance packages (full-size refrigerator, cooktop, and a microwave/convection combo). The project is designed to thoughtfully address regional demographics and demand, with smaller unit sizes that appeal to a core urban renter pool that is comprised largely of 1- and 2-person households. Residents will enjoy an ‘all-inclusive’ rental rate that includes high-speed WiFi and one dedicated parking space per unit.