Altura presents investors with the incredibly rare opportunity to maximize rent potential and position the asset as the market leader for luxury living. Through a targeted repositioning of Altura’s amenity package, an investor can meaningfully improve the resident experience and realize significant NOI growth.

Altura offers highly attractive assumable financing at 3.78% fixed, interest-only, maturing in December of 2027, resulting in a 6% Year 1 cash-on-cash return.

Altura offers a once-in-a-decade opportunity to acquire a modern, institutional-quality multifamily asset in Carmel Valley, where no trades have occurred since 2017. With ownership tightly held and zero multifamily units under construction, planned, or proposed, the submarket’s supply constraints will continue to benefit existing assets, as highlighted by Altura’s superior performance metrics.

Altura’s exceptional performance metrics are highlighted by:

• 95% Occupancy
• 5.2% Year-over-Year NRI Growth
• T-12 Bad Debt Below 0.2%
• 5.1% Lease Trade-Outs over the T-30

Carmel Valley is strategically positioned near San Diego’s premier innovation and healthcare corridors, Sorrento Valley, UTC, High Bluff Drive and Torrey Pines, which collectively support more than ~175k high-earning positions across the technology, biotechnology, life sciences, and healthcare sectors. Anchored by leading employers including Pfizer, Illumina, Qualcomm, and Deloitte, these economic hubs underpin a highly educated and affluent resident base, evidenced by the submarket’s $264,988 average household income and $2,776,214 average home sale price (Point2Homes; carmelvalley.com). Not including the cost of a down payment, the average monthly cost to own in Carmel Valley (estimated at $17,661/mo.) is more than 4x Altura’s average monthly market rent of $4,168.

Altura, conveniently located adjacent to the CA-56 and I-5, is surrounded by San Diego’s premier coastal lifestyle amenities, including nearly 480,000 sq. ft. of retail between One Paseo and Del Mar Highlands Town Center, the premier Marvin Gerst Trail and renowned beaches such as Torrey Pines State Beach, Del Mar, and Solana Beach.

Altura sits within the San Dieguito Union High School District, ranked No. 1 in San Diego and No. 3 statewide, offering access to premier public schools such as Canyon Crest Academy, San Diego’s top-ranked public high school (ranked #6 of 1,988 high schools in CA), and Torrey Pines High School (ranked #20 of 1,988 high schools in CA for academics and #4 for athletics). Additionally, with 76% two- and three-bedroom units, the asset has a complementary unit mix that will capitalize on the strong school district and drive continued renter demand.

Altura’s affluent resident base, earning an average household income of $233,561 and maintaining a rent-to-income ratio of 20%, underscores the property’s appeal to financially resilient households seeking a premium alternative to Carmel Valley homeownership.

With an average unit size of 1,179 square feet and 76% two- and three-bedroom units, including 12% townhomes, Altura offers a luxury, home-like rental alternative within Carmel Valley. Select direct-access garages, subterranean parking, and a comprehensive amenity package featuring two resort-style pools, a state-of-the-art fitness center, clubhouse, game room, and conference room further enhance the resident experience, positioning the property to meet demand from affluent households seeking flexibility relative to the significant cost of homeownership.