Listed by Bill Anderson with Acre Investment Real Estate 619-255-3222

We are pleased to present Bluwater Crossing Apartments (the "Property"), an attractive rental community located within the Bluwater Crossing live-work community in Carlsbad that was built in 2009 and is situated less than a mile from the ocean. They are under the City of Carlsbad's Affordable housing program for 55 years. This designation allows you to rent the units to tenants that make less than 80% of the current San Diego median income as reported by HUD. This affordable program also sets the max rents each year, with an average annual increase of 3.5% over the last 10 years. This program is very popular in Carlsbad and usually results in a wait-list for available units. The new 2022 median income calculations will allow the buyer to raise rents on all units to $1,674.50 at the close of escrow. And since the rent restrictions are tied to inflation, it is anticipated that rents will increase rapidly in the coming years. This property is exempt from AB 1482 rent restrictions as well. The Property consists of 12 units of approx. 820 sq. ft., on a large 34,470 sq. ft. lot. They are all 1 bed/1 bath loft-style units. Each unit offers contemporary finishes such as granite countertops and modern appliances, including built-in microwaves and dishwashers. The units boast of large living areas, laundry rooms with washers and dryers, spacious walk-in closets, central A/C, and select units that offer balconies and ocean views. The Property also provides tenants with secure underground parking, elevators, and community gathering spaces such as fire pits, fountains, and gardens. Cooling: Central Forced Air Elec