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$ 4,495,000
Est. payment | /mo
10,394 Sqft Lot
$ 4,495,000
Est. payment | /mo
10,394 Sqft Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 250026658
Lot Size 10,394 Sqft
Property Description
Rare Hillcrest 14-unit multifamily investment with major rental upside. Located in one of San Diego's strongest rental submarkets, this value-add opportunity includes (8) 1Bed/1Bath, (4) 2Bed/1Bath, and (2) Studios. All tenants are on month-to-month leases, offering maximum flexibility for rent increases and renovations. Current rents are below market, and new ownership can significantly increase income through targeted improvements—some of which have already been completed by the current ownership. With a current cap rate of 3.41% and a proforma cap of 6.37%, this property is ideal for investors seeking cash flow growth and long-term upside in a blue-chip location.
Location
State CA
County San Diego
Area Mission Hills (92103)
Zoning RM-3-9
Exterior
Total Parking Spaces 14
Building
Story 2
Others
Space Rent $297,240
Listed by Jason J Lee • JLM Real Estate Inc
“My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! ”