INNOVATIVE REAL ESTATE DEVELOPMENT STRATEGIES
IMAGINE - DESIGN - BUILD
With laser beam focus, Black Iron Development specializes in the purchase and modernization of older apartment buildings strategically located in high end beach communities in San Diego, Orange county and Los Angeles.
Black Iron utilizes its long-term relationships with a large network of commercial real estate brokers, apartment building owners and its reputation, that has been established since 1993, to identify and purchase many "off-market" buildings which have proven to have the best returns. Once acquired and modernized, each Black Iron building is rented at "top of the market" rents to achieve maximum returns.
Black Iron Development's principals have purchased, modernized and resold over $800,000,000 worth of residential real estate. We operate in a straightforward and transparent manner with open communication as we seek long-term relationships with investors and professionals who share our vision and goals.
BLACK IRON'S NEWEST COMPETED PROJECT
"BOARD HOUSE VILLAS"
Located in the Crown Point section of Pacific Beach, Boardhouse Villas is an 10 unit building that was originally built in 1970. Black Iron has completed a full modernization including new kitchens, new bathrooms, in-unit washer/dryers, updated electric panels, new flooring, new plumbing and lighting fixtures, central air conditioning, private roof decks and glass garage doors in the living room
opening to a large private patio.
Black Iron Development specializes in the purchase and modernization of existing older apartment buildings originally built in the 1960's, 70's or 80's. All of our buildings are stripped down to the drywall and studs and modernized with new kitchens, bathrooms,
in-unit washer/dryer, central air conditioning, plumbing,b lighting fixtures and new high end appliances We also upgrade electrical panels install smart home technology and more, giving every Black Iron Development building a new life and bringing it into 2022 and beyond.
For over 25 years, the principals of Black Iron Development have played a significant role in the modernization of Southern California's aging inventory of apartment buildings and houses. The Black Iron Development track record includes the purchase and modernization of over 2,000 apartment units, large scale condominium complexes, hundreds of single family houses and the construction of many multi-million dollar luxury homes.
“Rents are definitely spiking and generally rising 5% – 7% year over year in San Diego. There is just a limited supply.”
Garden Communities, Owner
“San Diego County needs 15,000 – 20,000 new housing units each year to keep up with demand and the influx of folks loving our sunshine. Even in our most productive year, our housing increases are only 6,500.”
San Diego Housing Commission
“San Diego needs 107,000 more apartment units over the next 8 years to keep up with demand.”
Elyse Lowe Director Development Services, City of
“With the tightness in the market, San Diego house prices have increased dramatically in 2020, with single family homes up 15.3%. This is causing many would-be first time home buyers to continue renting.”
Xpera Group 2021 Economic Forecast