New Eighteen Ten State Street Owners to Benefit from Strong Cashflow

Eighteen Ten State Street, a class-A mid-rise multifamily property located in San Diego’s Little Italy neighborhood, recently sold for $64.4 million, a price per unit of $650,500. The buyer was undisclosed and the seller was McMillin LLC.

The eight-story community has average floorplan sizes of 721 square feet. Located at 1810 State St., the community is near Little Italy’s Mercato, the new Waterfront Park and more than 85 dining options. The community is less than one mile from I-5, Pacific Highway, CA-163, the Trolley Green Line, Blue Line and Santa Fe Depot; 3 miles from I-15 and 2 miles from the San Diego International Airport. Residents also have access to top employers within Sorrento Mesa, UTC, Kearny Mesa, Mission Valley and downtown San Diego.

The JLL team representing the seller was led by Darcy Miramontes, Kip Malo, Tim Wright and Bharat Madan.

“With the strength of the San Diego market and Little Italy’s clear path for rent growth, the new owners have the opportunity to benefit from a stable cash-flowing asset within this highly sought-after neighborhood,” said Miramontes.