$7,300,000 $39,188 est/mo Sourced by Back At You

3956 1st Ave,San Diego, CA 92103

San Diego CA, 92103

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Description

We are is pleased to present 3956-3962 1st Avenue, a mixed use property located in the desirable urban neighborhood of Hillcrest in San Diego. The unit count includes 13 apartments plus two office suites. The subject consists of a 13-unit multifamily building and a 2,220 square foot office building situated on three adjacent parcels totaling approximately 0.5 acres (20,663 square feet). The current owner would prefer to sell both the apartments and office combined, but will entertain offers on each separately. The Buyer can assume an attractive $2.43M Chase Loan fixed at 3.92% until May 2027 on the 13-unit multifamily property located at 3960-3962 1st Avenue. The subject is strategically located in the highly walkable neighborhood of Hillcrest on First Avenue between the major east-west thoroughfares of Washington Street and University Avenue. The property has superb drive-by visibility, abundant parking and alley access. Tenants are walking distance to several restaurants, bars, coffee shops and boutique shops. Proximate to several freeways including I-5, I-8 and the 163, residents have convenient access to all major employment centers. The apartments were originally constructed in 1955 and the property is well maintained. There is opportunity for a Buyer to capitalize on a full renovation program to substantially increase rents. Alternately, the property offers a prime redevelopment opportunity. Recent updates to the City of San Diego's development regulations would permit a higher density development than the base zone allows.

Details

Listing ID240003196SD
Listing TypeFor Sale
StyleMixed Use
Sub-TypeResale
StatusActive
Days On Site69
Listing Provided ByEric D. Comer, Broker 858-509-1200 | Eric Comer

Features

Units15
Building(s)3

Market Activity 92103

MLS Internet Data Exchange (IDX) information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the California Regional MLS.

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Learn More About This Property

StateCA
CountySan Diego
CitySan Diego
Zip Code92103
Area92103 Mission Hills
Listing VS Median (in 92103)
Price:
$7,300,000
low | high
Med:
$825,000
100% of Average
On Site:
69
low | high
Med:
29
100% of Average
Sourced by Back At You
Listing Updated: March 27, 2024 at 3:45:03 PM PDT
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