From Triplex to High-Yield Multifamily

Crown Point Equities is redeveloping a classic Ocean Beach triplex into a modern 5–9 unit multifamily asset, capitalizing on favorable zoning and ADU legislation to more than double the unit count.

Originally comprised of one 2BR/1BA and two 1BR/1BA units, the property will be repositioned through a two-phase strategy:

• Phase 1: Renovation of existing units and conversion of four garages into two additional 1BR/1BA ADUs, creating a 5-unit configuration.

• Phase 2 (optional): Construction of a second story to add 2–3 more units, pending market conditions and permitting, bringing the total to 7–9 units.

Investment Snapshot:

• Equity Ask: $600,000

• Preferred Return: 8%

• Target Hold Period: 24–60 months

• Projected LP IRR: 17.3%

• Equity Multiple: 1.4x

• Projected Exit Value: $3.16M

By avoiding early-stage debt and managing construction in-house, Crown Point is mitigating risk while maintaining flexibility. With strong submarket demand, a walk score of 89, and immediate value-add potential, Niagara represents our model in action: nimble, targeted, and returns-driven.