2218-2220 Avenida De La Playa
La Jolla, CA 92037

Marcus & Millichap is pleased to present 2218-2220 Avenida De La Playa, in La Jolla, California. This offering represents a very rare opportunity to acquire a three-story, 3,076 SF mixed-use investment. Designed and built in 2009 by architect Dale Naegle, then renovated in 2015 with steel frame construction, multiple balconies, bamboo floors, surround sound, fiberglass windows, rooftop deck, and high ceilings. The property is located on the prestigious Avenida De La Playa, one of the world’s most desired tourist destinations. Just three blocks from the famous La Jolla Shores, this is a quick walk to restaurants, retailers and the beach. Nearby are famed Scripps Institute of Oceanography, University of California, San Diego, and the Birch Aquarium; all a short 5 minute drive. Comprised of 800 SF retail suite occupied by Pacific Sotheby’s International and has been at this location since 2015. The second and third floor townhome is comprised of 2,276 SF, featuring 3 BR and 3BA, with an elevator, a loft, 2 car garage, and five balconies with ocean views. This unit is utilized as a vacation rental and comfortably houses as many as 8 guests. La Jolla is a submarket of Southern California that has an extremely low vacancy and high barrier to entry. In the fourth quarter of 2018, the total La Jolla retail vacancy totaled 4.6%. The average asking rent in La Jolla is currently $5.05 per square-foot (MG+E).