1616 Guy St
San Diego, CA 92103
The Royal Apartments · Multifamily Property For Sale · 121 Units

The Royal Apartments consist of 121 units housed in 12 structures built with wood frame construction in the early 1960s and situated on two parcels totaling approximately 79,699 sq ft of land in an irreplaceable location in Mission Hills with views of the San Diego Bay, Coronado, Harbor Island, and Point Loma. The property features 120 parking spaces, a pool and BBQ deck area, and 2 laundry facilities. 104 of the units are 320 sq ft studios, 16 units are 365 sq ft studio units with an additional alcove, and there is one 612 sq ft cottage by the pool with canyon views. There is a balcony linking two of the westernmost buildings that offers 180 degree views as well as additional common patio space. This property has not yet experienced the extensive upgrading typical of other apartments in San Diego’s prime urban neighborhoods including Mission Hills. The units feature a mix of faux wood, vinyl plank, and carpeted flooring. Some bathrooms have been remodeled with shower/tub enclosures and Espresso vanities. Routine maintenance has been performed during long term ownership but there is a great opportunity for value add for a new owner. Many of the tenants are long term and all tenants are month to month. There is 35% upside in the current rents. The location has a high walk score. The apartments are within a half mile of both the Washington Street light rail station and the Lower Mission Hills Restaurant Row. Mission Hills is a neighborhood in San Diego located on the hills overlooking Old Town and the San Diego Bay, just north of Downtown, west of Hillcrest and south of the San Diego River valley. It is one of San Diego’s oldest and most desirable neighborhoods. The area is primarily residential with some small shops and restaurants. It is one of the most architecturally impressive neighborhoods with many of the houses from the early 1900s, which have been carefully preserved and restored. Modern homes were built as infill along canyon rims in the 1950s and 1960s. Mission Hills is highly sought after with its stately homes, quaint Craftsman bungalows and large mansions pristinely manicured on quiet streets. What defines Mission Hills, first and foremost, is the homes. Mission Hills is a far cry from new cookie- cutter subdivisions and the older, but well-appointed homes each have their own unique characteristics and charm. Mission Hills also has its own business district. Most of the local businesses are located along West Washington Street from Hillcrest and on to the east. The business hub of Mission Hills is along Goldfinch Street between Fort Stockton and West Washington. Restaurants, shops, pubs, and services give residents just about everything they might need. The main business streets are University Avenue and Washington Street. Other major streets are Fort Stockton Drive and Sunset Boulevard. Cross streets are named for birds, in alphabetical order from Albatross to Lark. Streetcar rail tracks were built along the main thoroughfares of the neighborhood, such as Fort Stockton Drive. Pioneer Park and Mission Hills Park serve as two recreational parks within the neighborhood. Two of the neighborhood’s many canyons are open to the public for hiking: Robyn’s Egg Trail and the Allen Road Canyon Trail. Mission Hills is located just north of downtown San Diego and is easily accessed from State Route 163, which cuts through the area. From I-8, take SR 163 south and take the West Washington Street exit. Drive through Hillcrest and within a few blocks you will be in Mission Hills. The primary east-west thoroughfares are Washington Street and University Avenue. Fort Stockton Drive, off of Goldfinch Street takes you through the main residential area of the neighborhood. If you take Fort Stockton all the way west, then take a left on Arista, you pass some of the mansion-like homes as the road descends into Presidio Park. DO NOT WALK ON PROPERTY OR DISTURB TENANTS. CONTACT LIST AGENT FOR TOUR.