Housing worth
the address.
Density is the thesis; the product is the point. Crown Point Equities builds design-forward housing that raises the standard of the block it sits on: places people are proud to live, in neighborhoods that hold their value for a reason.
1824 Chico
The acquisition.
A detached duplex on Chico Street in Pacific Beach, minutes from the bay: a two-bedroom and a three-bedroom on a single lot.
The read.
A density play, start to finish. Two dwellings on a lot that could carry four, in a submarket where every additional door compounds.
The execution.
Phase one: both units quickly renovated and leased, maximizing rental income and covering carry while plans advanced. Phase two: the property was taken down to the studs and built vertical, adding a second unit to each dwelling. The finished asset is four separate units, and it set a Pacific Beach record for the highest price per door among comparable assets.
4642 Niagara
The acquisition.
A 1,938-square-foot triplex with four single-car garages on a 6,969-square-foot lot at 4642–4646 Niagara Avenue, four blocks from the beach.
The read.
A density play with room to more than double the door count. The lot, the zoning, and the location supported far more than the three units standing on it.
The execution.
Phase one: all three existing units fully renovated and stabilized, and the garages converted into two new one-bedroom units. Phase two: a new 2,500-square-foot residence replacing the front home, plus two 950-square-foot ADUs, bringing the property to seven units total.
3121 Emerson
The acquisition.
An off-market duplex at 3121–3123 Emerson Street: a three-bedroom and a one-bedroom on a lot whose zoning permits up to 9,000 square feet of dwelling space.
The read.
The spread between what stood on the lot and what the zoning permits was the entire deal. Point Loma rents are strong, supply is scarce, and current density rules finally allow this lot to carry what the submarket demands.
The execution.
Phase one: the existing units were renovated and leased, covering carry while plans moved through the city. Phase two: four townhomes totaling 7,500 square feet, now under construction.
The thesis, proven.
Three different properties, one discipline: acquire density the market hasn't priced, entitle it, and build it in coastal submarkets where demand is permanent.