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California  + San Diego  + Apartments  | 
Two Pacific Beach Apartments Change Hands

Gorgeous, New P.B. Apartment Complex Sold

Pacific Beach is (let’s face it) a gorgeous area of San Diego. And a relatively new apartment complex in Pacific Beach (completed in 2020) has changed hands for an undisclosed price, according to a news release.

The complex, Jefferson Pacific Beach, is located at 4275 Mission Bay Dr., and was acquired by Equity Residential. The seller was JPI Companies (also the original builder). JPB has a mix of one-, two- and three-bedroom apartments available.

Representing the seller on behalf of Berkadia Irvine were Managing Director Rachel Parsons, and Senior Directors Derrek Ostrzyek and Mike Murphy.

Interest in the property was reportedly quite high from investors, given that the structure is “one of only four institutional assets built west of Interstate 5 along San Diego’s entire coastline in the past 30 years,” per the release.

The average rent for a 1-bedroom apartment in Pacific Beach, San Diego, CA is currently $2,595. This is a 48% increase compared to the previous year, with that data via Zumper.com.

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