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California  + Bay Area  + Apartments  | 

Multifamily Taps into Void in Single-Family Affordability

Waterton cited a strong relative value for residents priced out of the single-family home market as a key factor in its purchase of Delphine on Diamond in the San Francisco neighborhood of Noe Valley. The purchase price was undisclosed.

The property is the first San Francisco acquisition for Waterton San Francisco. Originally built in 1972 and located at 5285 Diamond Heights Blvd., the community features 154 units and consists of one-, two- and three-bedroom apartment homes across two podium buildings with subterranean parking.

Planned community-wide renovations at Delphine on Diamond include new siding and windows, landscaping, mechanical upgrades, and updates to hallways, common areas and amenities. The units will be updated with new light fixtures, new carpeting and flooring throughout, while kitchens will be outfitted with new cabinets, solid surface countertops and plumbing fixtures.

For comments, questions or concerns, please contact Lisa Brown

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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