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Additional details
$ 2,590,000
Est. payment /mo
New
3767 7th Avenue San Diego, CA 92103
6 Beds
5 Baths
7,001 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
Subdivision Hillcrest (Hlcr)
MLS Listing ID 260019147
Bedrooms 6
Full Baths 5
Year Built 1930
Lot Size 7,001 Sqft
Property Sub-Type Res Income 2-4 Units
Property Description
We are pleased to exclusively present for sale 3767 7th Avenue, an exceptionally restored Spanish-style multifamily investment located in the heart of Hillcrest, one of San Diego's most desirable and supply-constrained urban neighborhoods. Combining stabilized in-place cash flow with fully entitled expansion potential, the offering presents a rare opportunity to acquire a trophy-quality asset featuring immediate development upside. The property currently consists of four legal apartment units and one non-conforming one-bedroom unit, while approved plans allow a purchaser to immediately commence construction of nine additional apartment units and legalize the existing non-conforming residence, resulting in a 14-unit apartment community upon completion. Originally constructed in 1930, the property has undergone an extensive, condo-quality restoration over recent years, preserving its timeless Spanish architecture while incorporating modern luxury finishes throughout. The existing improvements comprise approximately 3,910 rentable square feet and include a highly desirable unit mix consisting of one (1) 2-bedroom / 2-bath townhome (±1,200 SF), two (2) 2-bedroom / 1-bath residences (±875 SF each), one (1) studio (±400 SF), and one (1) non-conforming 1-bedroom / 1-bath unit (±560 SF) converted from a former laundry facility. The property currently generates approximately $167,200 in annual gross income, providing investors with meaningful in-place cash flow while preparing for immediate vertical expansion.
Location
State CA
County San Diego
Community Bbq
Area Metro Uptown
Interior
Heating Wall/Gravity
Cooling Wall/Window
Fireplace No
Exterior
Fence Gate
Utilities Available Sewer Connected
View Y/N Yes
Water Access Desc Meter on Property
Roof Type Tile/Clay
Building
Story 3
Water Meter on Property
Level or Stories 3
Others
Senior Community No
Tax ID 452-103-25-00
Acceptable Financing Conventional
Listing Terms Conventional
Listed by Conor M Brennan, DRE#01918598 Conor Brennan, Broker
NEARBY SCHOOL & BUSINESS
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