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Kevin Silverstein

[email protected] +1(619) 203-7041

$2,590,000

Est. payment - /mo

6 Beds

5 Baths

7,001 Sqft Lot

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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

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Listed by Conor M Brennan, DRE#01918598 Conor Brennan, Broker

Nearby School & Business

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Kevin Silverstein

+1(619) 203-7041

Realtor | CA BRE #02098925

Realtor CA BRE #02098925

San Diego Communities

3767 7th Avenue San Diego, CA 92103

Kevin Silverstein

Key Details

Location

Interior

Exterior

Building

Others

Nearby School & Business

Get More Information