Zephyr Lures Buyers to San Diego
- Oct 26, 2015
San Diego—Level Fifteen, a townhouse property totaling 63 units in the coastal hills of North County between San Marcos and Escondido, is now selling units at its third phase. The developer Zephyr started selling its first phase about a year ago.
Prices for the townhouses start in the $400s. According to the developer, the main market for the property is composed of renters who are tired of the persistent increases in rents in the San Diego market.
“Just within the last 12 months, rents have increased up to 6 percent,” said Brad Termini, Zephyr’s co-CEO. “And because the city has a low vacancy rate, landlords are taking the opportunity to raise prices because they know renters’ options are limited.”
Level Fifteen offers three floor plans ranging from 1,690 square feet to 1,918 square feet that have three to four bedrooms, 2.5 baths and attached two- and three-car garages. Six units are now available in Phase III, and 19 home buyers have already moved in the previous phases. The residences feature private patios and balconies, along with kitchen islands and walk-in closets in every master suite.
The property includes garages, but it’s also close access to a commuter train, the Sprinter. That train runs 22 miles along California highway 78 and offers connections to another commuter train, the Coaster, which goes directly into San Diego. The Sprinter also provides connections to bus, Amtrak and Metrolink stations.