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A newly renovated coastal Encinitas multifamily trophy asset on a Large Lot with quality upgrades, strong in-place income, in one of Southern California’s most supply-constrained rental markets. Introducing 931–937 Regal Road, a rare opportunity to acquire a newly renovated 5-unit property in this highly desirable coastal community. Completed with extensive renovations and recent construction additional units with improvements finalized from 2020 to 2025, this exceptional investment offers a highly attractive unit mix of three (3) two-bedroom / one-bath units and two (2) one-bedroom / one-bath units. Total of 8 bed, 8 bath. Private courtyards for each unit! This is the South half of mirror image courtyard development. The adjacent 5 unit property is also available separately. The property has undergone a comprehensive, transformation featuring newly constructed and fully remodeled residences. Interior upgrades include modern quartz countertops, renovated kitchens and bathrooms, tile flooring throughout, updated electrical systems, new AC units serving the newly built units, and new roofs on all. Each residence offers abundant natural light, large private enclosed backyards, and mature landscaping that creates a unique residential environment rarely found in multifamily investments of this scale. The property combines modern improvements with a low-density coastal living experience that strongly differentiates it from traditional apartment product throughout Southern California. Located in one of North County San Diego’s most desirable rental markets.