4142 ADAMS AVENUE SAN DIEGO CALIFORNIA · 2017-11-21 · 4142 ADAMS AVENUE SAN DIEGO CALIFORNIA....

Holliday Fenoglio Fowler, L.P., acting by and through Holliday GP Corp., a real estate broker licensed with the California Department of Real Estate, License Number 01385740 (“HFF”)

4142 ADAMS AVENUE SAN DIEGO CALIFORNIA

HFF is pleased to present Kensington Commons, a newly-constructed

34-unit multi-family community, with an additional ±9,973 square

feet of ground floor retail located within the Kensington submarket of

San Diego. The asset benefits from significant frontage along Adams

Avenue, the major arterial that attracts ±14,300 cars per day.

Recently completed in 2014, Kensington Commons offers its

residents a masterfully designed apartment community with unique

condominium-sized floor plans, private balconies/patios and 9-foot

ceilings, along with convenient retail tenants that include Stehly Farms

Organic Market, Pacific Dental, Perlman Primary & Urgent Care Clinic,

and the UPS Store. Availability at Kensington Commons has been sparse

since its inception, currently 100% occupied, due to its setting near

restaurants, shops, and major freeways (I-15, I-8, I-805). The location

offers residents a true live-work-play environment with a Walk Score

of 88, local major employment centers (Downtown, Mission Valley,

Sorrento Mesa, La Jolla/UTC), and family attractions such

as Balboa Park (4.1 miles), the San Diego Zoo (4.2 miles),

Downtown (5.8 miles), and the Pacific Ocean (7.5 miles).

KENSINGTON

Commons

2 • HFF

Exclusive Submarket

Founded in 1910, Kensington with its peaceful winding

streets, historic California Spanish tiled cottage style homes

and lush landscaping is one of the most desirable San Diego

neighborhoods. The compact walkable neighborhood includes

a 5-block business district that is home to an array of shops and

restaurants with patio dining. Kensington’s historic small-town

feel and pedestrian-oriented layout creates an atmosphere

where neighbors often stroll or walk their dogs through town

and know one another by name.

Spacious Amenity Rich Community

Separating itself from the competing communities, Kensington

Commons offers residents large (±1,083 average square footage)

open and unique floor plans, complete with a private balcony/

patio and high-end interior finishes. The kitchen area is ideal for

today’s renter, complete with stainless steel appliances, quartz

countertops, and hardwood flooring. The Property is within

walking distance to local retail along Adams Avenue and in

proximity to family attractions such as Balboa Park (4.1 miles),

the San Diego Zoo (4.2 miles), Downtown (5.8 miles), and the

Pacific Ocean (7.5 miles).

QUALCOMM STADIUM

INVESTMENT HIGHLIGHTS

4 • HFF

KAISER PERMANENTE ZION MEDICAL CENTER

15

8

PONCE’SKENSINGTON PEDIATRIC DENTISTRY

CHASE BANKBLEU BOHEME

CUCINA SORELLATHE HAVEN PIZZERIA

LANDMARK KEN CINEMAKENSINGTON CLUB

VILLAGE VINOMOOSIE’S ICE CREAM

BEYOND PILATES KENSINGTONKENSINGTON PARK SALON

BUDDIES & BABIESKENSINGTON LIBRARY

SALON KENSINGTONCLEM’S BOTTLE HOUSEM&C TAILORINGAMG MANAGMENT & REALTYBURGER LOUNGEJOE CARTA REALTYSTARBUCKS

SOPHIE’S KENSINGTON GALLERYMAGIC TOUCH DRY CLEANING

PAPPALECCOSNAPOLOGY

SINGING SERPENTZEN SANCTUARYRAZOR LINE BARBER SHOPSUGAR KISS BOUTIQUE

DIESEL SALONSCIENCE FITNESS PERSONAL TRAINING

STEHLY FARMS MARKETTHE UPS STORE

PERLMAN CLINICKENSINGTON DENTAL GROUP

(ALL ON-SITE)

ADAMS AVE (14,300 VPD)

(239,000 VPD)

(290,000 VPD

)

FAIRMOUNT AVE

HFF • 5

Amid the [neighborhood’s]

charming Spanish-style

homes and friendly

residents is a hip avenue of

great food, art, and more.”

San Diego Magazine July 2016

“

6 • HFF

Excellent Demographics

The Kensington submarket has attracted a highly affluent, well-educated, and rapidly

expanding population. The dense five-mile population surrounding Kensington

Commons totals 618,276 and is expected to increase by 5% over the next five years,

ensuring continued demand for rental housing. The immediate areas demographics

are optimal from a landlord’s perspective, with a strong average household income of

$92,752, an average age of 37, and 71% renter-occupied market (source: Claritas).

The Hub of Transportation

Kensington Commons is located just south of Interstate 8, just east of SR-15 and I-805,

and west of San Diego State University. Adams Avenue/Park Blvd is the main ingress/

egress option for many of San Diego’s most popular submarkets and is bursting with

nearly a million square feet of retail. The area’s nightlife has been revitalized with the

opening of numerous restaurants and bars, attracting patrons who enjoy the ease of

access compared with Downtown.

Strong Apartment Fundamentals

San Diego is an extremely supply-constrained market and is expected to remain so in

the foreseeable future, with minimal new units delivering relative to strong demand.

The County experienced annual rent growth of 6.8% in 2016 and possesses a current

market occupancy rate of 97%. The recent transformation of San Diego’s Downtown

has established the surrounding neighborhoods such as Kensington as the preferred

location for residents seeking an urban, walkable environment.

HFF • 7

4142 ADAMS AVENUE SAN DIEGO CALIFORNIA · 2017-11-21 · 4142 ADAMS AVENUE SAN DIEGO CALIFORNIA....

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