The subject property is located on the corner of Romeria Street & Gibraltar Street in Carlsbad, California. Lying just east of I-5 and north of Encinitas sits the affluent La Costa neighborhood. The property is roughly 2 miles from the renowned Omni La Costa Resort & Spa. The site offers countless nearby amenities including La Costa Town Square, Stagecoach Park, The Forum Carlsbad and more. The subject property currently has entitlements in place for two (2) four-story buildings containing twenty-three (23) apartments, seven (7) one-bedroom one-bathroom units and sixteen (16) . Each one-bedroom unit will be between 641-942 square feet and each three-bedroom unit will be between 1,661-2,036 square feet. Both buildings are a podium design with parking on the ground floor and three stories of living area above.