Located in Spring Valley, California, Monterey Trellis presents an opportunity to invest in a highly desirable asset class within a supply-constrained market. The property is currently being managed by an in-house operator allowing the opportunity to turn the operation over to third party and increase profit margins making this "value-add" opportunity an enticing investment. The opportunity includes the fee simple interest in:
Monterey Trellis consists of two parcels:
Parcel One: This parcel totals 40,075 square feet of net rentable space and consist of the following:
Senior Residences: A two-story apartment building with 18,992 square feet built in approximately 1986 with 24 two-bedroom, one-bath units and 2 one-bedroom, one-bath units. The building was converted in 2004 into a 50-bed assisted living facility with social gathering room, dining room, kitchen, and offices.
Restaurant: A single-level restaurant of 5,754 square feet with patio at front and a covered patio at rear.
Parcel Two Lot: A 20,948 square-foot lot, zoned R1 located across the street from Parcel One.
About Cali Comfort BBQ: Rooted in Bulgarian family traditions of hospitality, Shawn and Rositsa Walchef, the owners of Cali Comfort BBQ, have created a welcoming village atmosphere in Spring Valley and has been the winner of several of the San Diego Union Tribune's BEST awards; Small Business of the Year for 2016 by Assemblymember Brian Jones, The Best BBQ Joints in San Diego by Thrillist and Eater San Diego, and was featured on 101 Things to do San Diego. At Cali Comfort BBQ all meats are barbecued in Ole Hickory Smokers with select cooking woods after they have been seasoned with a specialty Cali Dry Rub. Passionate about remaining true to barbecue tradition, Cali Comfort BBQ developed menus for their Low -N- Slow Cali BBQ Restaurant and Catering Events to offer only the highest quality barbecue in San Diego. Calif Comfort BBQ is also a proud sponsor of the San Diego Gulls Hockey Club where they serve their signature slow cooked barbecue at almost every Valley View Casino Center event.
8911 Troy Street (Land Parcel): 8911 Troy Street lies directly across the Street from 8910/8914 Troy Street. The parcel consists of 20,948 square feet of developable land currently zoned R1. The parcel is currently used as additional parking for the Cali Comfort BBQ restaurant which can cater to a high volume of visitor traffic during sporting events, weekends, and other special events. Also included on the parcel is one single family residence located on the front half of the lot, an office used by Cali Comfort BBQ and storage units on the back half of the lot.
The Monterey Trellis Assisted Living Facility (50 beds): As more people retire and the need for healthcare services grows, investments in senior assisted living facilities continue to emerge as a popular new market sector. While these facilities may be less well-known compared to other commercial real estate property types, projected growing demand makes them an attractive investment. According to the National Real Estate Investor, the National Investment Center for Seniors Housing & Care, within the senior housing sector generally, independent living facilities are driving the growth in the market, with occupancy rates rising. According to the U.S. Census Bureau, the number of individuals in the U.S. between the ages of 65 and 84 will increase by 38.8 percent between 2010 and 2020, while the population over age 85 will increase by 18.7%. This aging of the population will create a large area of unmet demand in the following decade for assisted living facilities.
Encompassing 13.5 square miles, the unincorporated community of Spring Valley is the largest of its kind in San Diego County. This unique and charming community embraces within its boundaries a variety of smaller communities consisting of Casa de Oro, Rancho San Diego, La Presa, Dictionary Hill, Mount Helix, and Bancroft. Spring Valley, which is located approximately 10 miles west of Downtown San Diego, is bordered by La Mesa and El Cajon to the north, Jamul to the east, Bonita to the south, and Lemon Grove to the west.
The Spring Valley community boasts a small town atmosphere with numerous locally-owned businesses and active clubs and organizations. Due to its rich heritage and balmy climate, Spring Valley offers many recreational activities. Outdoor enthusiasts can take advantage of the local lakes that make fishing a popular sport for the city, as well as offering boating, diving, and swimming opportunities. Spring Valley provides an excellent mix of open space and horse trails, foothill suburbs with views and dense urban centers appealing to residents and tourists alike. The community's location, view opportunities, and historical characteristics are resources that will continue to encourage continuing development within this unique neighborhood.
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