Townsend_Property for Sale
Townsend_Property for Sale

Townsend

5075 Camino De La Siesta, San Diego, CA, 92108, US

Description

JLL, as exclusive advisor, is pleased to present for sale The Townsend (the “Property”), a newly constructed, 100% market-rate, 277-unit luxury apartment community located in Mission Valley, San Diego. Completed in 2022, The Townsend represents a rare opportunity to acquire a leasehold interest in a generationally scarce, new-construction asset in one of Southern California’s most renter friendly submarkets, situated at the nexus of Mission Valley’s multibillion dollar revitalization.


Developed by The Dinerstein Companies, The Townsend is a five-story wrap community positioned along the San Diego River corridor with direct access to Interstate 8 and State Route 163. The Property’s central location delivers unmatched connectivity to 1.3M jobs within a 30-minute commute, while placing residents minutes from Downtown San Diego, San Diego International Airport, and UC San Diego. The submarket’s ±7.5 million square feet of office and ±5.2 million square feet of retail — anchored by the Fashion Valley and Westfield Mission Valley malls — provide a durable and growing demand base for luxury multifamily.


The Townsend distinguishes itself through a resort-calibrated amenity package — including a rooftop lounge with firepit and panoramic views, resort-style pool with tropical landscaping, a contemporary clubroom with billiards, and a state-of-the-art fitness center — paired with luxury interior finishes featuring quartz countertops, premium cabinetry, and private balconies, collectively setting the standard for luxury living in Mission Valley. The Property includes 9,500 SF of 100% occupied street-level retail anchored by Gravity Heights brewery and restaurant, Spill the Beans café, and Pacific Dental.


The offering is structured as a leasehold interest, underpinned by a 99-year, investor-friendly, ground lease with 92 years remaining and no fair market resets — among the most favorable ground lease structures in Southern California.

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Attributes

Units
277
Year built
2022
Rentable area
23,205 sm
Land area gross
1.72 ha

Media

Investment highlights

Marketing Leading Execution - LEED Gold Certified with Resort-Style Amenities Developed by Dinerstein (NMHC Top 25 Developer)

Rare Suburban Core Opportunity Of Scale - Mission Valley Offerings of Scale (100+) - Trade Once Every 2 Years

Discount to Replacement Cost - Over 25% Rent Growth Needed to Achieve a 6.50% Untrended ROC on Development

Epicenter of San Diego Retail - 6.3M SF of Premier Retail within a 1.5 Mile Radius; Nation's 5th Largest Mall (1.73M SF) a Walk Away

Mission Valley Growth Story - ±$10B in Total Investment Underway - 693 Acres Being Redeveloped

Ultimate Transit-Oriented Location - 1.3M Jobs within a 30-Minute Commute

Biotech Engine - San Diego is the Nation's #2 Life Science Cluster, $21B VC Raised Since 2020

Runaway Affordability - Townsend Rents Sit at 54% Discount to Homeownership - Mission Valley's Rentership Rate Stands 20% Above the San Diego Average



Townsend 4_Property for Sale
Townsend 4_Property for Sale

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Last updated Jul 28, 2026