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Admiralty Apartments 940 Palm Ave

52 Unit Apartment Building For Sale National City, CA 91950

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Executive Summary

The Bove Group is excited to present Admiralty Apartments, a 52-unit condominium complex with separate APNs, located in National City, California. This complex offers a diverse mix of studio, one-bedroom, two-bedroom, and three-bedroom units, with a majority being two-bedroom units, catering to various needs. The property features 20 garages, ample parking, a gated entry, and stunning views from most units.
National City is experiencing a significant surge in multifamily sale activity, thanks to its strategic location within the Greater San Diego area and its relative affordability compared to neighboring cities. This has resulted in strong rental demand, supported by a diverse population and a steady influx of residents seeking proximity to employment hubs, educational institutions, and urban amenities.
With partial renovations already completed, new owners have the opportunity to finish the updates according to their vision or upgrade to condominium standards and sell units individually in the future. The variety of unit sizes offers flexibility in marketing and leasing strategies, making this an attractive option for investors aiming to maximize occupancy and returns in the dynamic National City rental market.

Property Facts Under Contract

Sale Type	Investment	Building Size	62,436 SF
No. Units	52	Average Occupancy	96%
Property Type	Multifamily	No. Stories	2
Property Subtype	Apartment	Year Built	1982
Apartment Style	Garden	Parking Ratio	1.05/1,000 SF
Building Class	C	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Lot Size	1.81 AC

Sale Type	Investment
No. Units	52
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Garden
Building Class	C
Lot Size	1.81 AC
Building Size	62,436 SF
Average Occupancy	96%
No. Stories	2
Year Built	1982
Parking Ratio	1.05/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.