185 Saxony Rd Encinitas, CA 92024
Central Encinitas NeighborhoodEstimated payment $111,590/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
| 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 |
|---|---|---|---|---|
| 2025 | $60,282 | $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
| 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 |
Source: San Diego MLS
MLS Number: 260010705
APN: 258-111-03-00
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