The main constant through the recently ended Great Recession was the performance of the residential rental market in San Diego. It was often in the top 10 percent nationally. Rental rates remained fairly constant and vacancies were mostly below five percent, the industry standard for optimal occupancy.
The sale of the Coronado Bay Club Resort Apartments late last year was representative of San Diego's multifamily market these past years.
The $161.6 million price worked out to $294,316 per unit for a circa-1971, bay-front property with, according to MarketPointe Realty Advisors, three vacancies in September. Monthly rents ranged from $1,193 to $2,683 for studios to two-bedroom floor plans from 404 to 1,063 square feet.