28-Unit Luxury Apartments in San Diego Placed on Market with $17.9MM Asking Price

San Diego, Banker’s Hill, South Coast Commercial, The Element, InDev LLC, Balboa Park, Little Italy

By Catherine Sweeney 

More residential space is headed to the market in San Diego. One property to recently be placed up for sale is The Element, a 28-unit luxury apartment complex situated within the city’s Banker’s Hill neighborhood. According to a marketing brochure from South Coast Commercial, the property is up for sale at $17.9 million, or about $642,679 per unit. 

Located at 2603 Dove St., the four-story property is currently owned by its developer, San Diego-based InDev LLC. The property was built in 2021 and is marketed by South Coast Commercial’s Brendan Flynn. 

The property features luxury units with two affordable units included as well. Included in each unit is patio space ranging from 37 square feet to 879 square feet of private outdoor patio space. Other in-unit amenities include open floor plans, modern kitchens with butcher block countertops, Samsung appliances and more. 

With its location in Banker’s Hill, the property is also situated near a number of off-site amenities, including the adjacent Maple Canyon walking trail. It is also a mile from Balboa Park and less than a mile from Little Italy, according to the marketing brochure. 

InDev LLC is a private San Diego-based investment and development firm with a number of properties situated throughout the city. According to its website, the firm’s portfolio spans Golden Hill, University Heights, Point Loma, North Park, Mission Hills, Little Italy, La Mesa and Hillcrest. 

The firm recently sold another property in San Diego. That property, Contour Lofts, is a six-story, 27-unit apartment complex at 2120 Columbia St. According to The Registry’s previous reporting, the property sold for $20.7 million, or about $747,222 per unit to an entity linked to Contour Lofts LLC.