185 Saxony Rd Encinitas, CA 92024
Central Encinitas NeighborhoodEstimated payment $125,725/month
About This Home
Kidder Mathews is proud to exclusively offer for sale this fully renovated, 32-unit luxury apartment community in the heart of coastal Encinitas. Nestled in one of North San Diego County’s most coveted beachside enclaves—just 0.8 miles from Moonlight State Beach and under 1 mile from Downtown Encinitas’ bustling shops, restaurants, and surf culture— The Gemma delivers an irreplaceable walk-to-everything lifestyle in a market with virtually no new supply. This turn-key trophy asset has undergone a complete 2025 renovation to institutional standards, featuring all-new quartz countertops, fully renovated kitchens and bathrooms, luxury vinyl plank flooring, new AC units, a brand-new roof, and full re-plumbing with new water supply lines in every unit. The freshly painted exterior enhances curb appeal, while 13 spacious two-bedroom, two-bath townhomes and 19 one bedroom, one-bath flats (32 units total) deliver a highly desirable, family-friendly mix commanding premium coastal rents. With quality post renovation systems installed, minimal near-term CapEx, and Encinitas vacancy below 2.5%, The Gemma offers immediate stabilized cash flow, organic rent growth, and long-term appreciation in a submarket where median home prices exceed $2.1M. This rare offering combines 2025-renovated luxury, proven coastal demand, and embedded upside—a true core-plus investment in the crown jewel of North County.
Listing Agent
Ray Adams Investment Real Estate Inc License #00989238 Listed on: 05/04/2026
Property Details
Home Type
- Multi-Family
Home Design
Interior Spaces
- 45 Bedrooms
- 18,690 Sq Ft Home
- 2-Story Property
Community Details
Overview
- 7 Buildings
- 32 Units
Building Details
- Operating Expense $341,850
Map
Home Values in the Area
Average Home Value in this Area
Tax History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2026 | $146,984 | $13,161,060 | $7,594,920 | $5,566,140 |
| 2025 | $146,984 | $12,903,000 | $7,446,000 | $5,457,000 |
| 2024 | $60,282 | $4,975,037 | $3,041,509 | $1,933,528 |
| 2023 | $58,105 | $4,877,488 | $2,981,872 | $1,895,616 |
| 2022 | $56,003 | $4,781,852 | $2,923,404 | $1,858,448 |
| 2021 | $57,021 | $4,688,091 | $2,866,083 | $1,822,008 |
| 2020 | $56,917 | $4,640,021 | $2,836,695 | $1,803,326 |
| 2019 | $55,873 | $4,549,041 | $2,781,074 | $1,767,967 |
| 2018 | $56,425 | $4,459,845 | $2,726,544 | $1,733,301 |
| 2017 | $55,579 | $4,372,398 | $2,673,083 | $1,699,315 |
| 2016 | $53,844 | $4,286,666 | $2,620,670 | $1,665,996 |
| 2015 | $53,219 | $4,222,278 | $2,581,306 | $1,640,972 |
| 2014 | $52,778 | $4,139,570 | $2,530,742 | $1,608,828 |
Property History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 05/04/2026 05/04/26 | For Sale | $20,100,000 | -- | $1,075 / Sq Ft |
Purchase History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Grant Deed | $12,650,000 | Chicago Title | |
| Interfamily Deed Transfer | -- | Fidelity National Title | |
| Grant Deed | $3,450,000 | First American Title | |
| Deed | $190,000 | -- | |
| Deed | $316,000 | -- |
Mortgage History
We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $9,000,000 | New Conventional | |
| Previous Owner | $5,500,000 | Commercial | |
| Previous Owner | $4,200,000 | Negative Amortization | |
| Previous Owner | $275,000 | Commercial | |
| Previous Owner | $3,070,000 | Commercial | |
| Previous Owner | $2,300,000 | Commercial | |
| Previous Owner | $1,275,000 | Commercial |
Source: San Diego MLS
MLS Number: 260010705
APN: 258-111-03-00
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