The Wilson Apartments represent a rare opportunity to acquire a prime development site in San Diego’s historic Cortez Hill District, one of Downtown’s most desirable residential neighborhoods. The offering consists of two parcels totaling 15,000 square feet at the top of Cortez Hill, located at 1560–1572 10th Avenue and 1561–1575… Read More 9th Avenue, San Diego, CA 92101. The existing improvements include five multifamily buildings constructed circa 1930, comprising 13 rental units with a total rentable square footage of 7,738. There are nine units across two apartment buildings on 9th Avenue (ten 1BR/1BA, one 2BR/1BA, and two studios/1BA), along with four units within three cottages along 10th Avenue, including one duplex cottage. The property also includes 12 parking spaces, with nine open stalls and three garages. These character-rich buildings generate immediate rental income and provide investors with flexibility — either to enhance the existing apartments as a value-add opportunity or to hold as a true covered land play while entitling and planning for future redevelopment. The property is zoned CCPD-R, which permits multifamily residential uses with a maximum FAR of 8.0. It is also located within the Complete Communities District, where FAR limits are effectively waived, further enhancing redevelopment potential. Recent trends in Uptown and Downtown San Diego have seen the razing of older improvements for high-rise apartment projects, reflecting strong demand for infill sites in this submarket. Read Less
Courtesy of Acre Investment Real Estate, 619-255-3222, Bill Anderson.
Listing Snapshot
Days Online
4
Last Updated
Property Type
Com-Res Income
Square Ft.
7,738
MLS Number
250040754
Additional Details
Building
Built in 0, Building area total: 7738, 3 number of buildings, 2 stories, Living area: 7738, Living area units: Sqft, Building area units: Sqft, 13 total units
Expenses
Operating expense: $140,998
Income
Gross scheduled income: $273,228
Lot
Size units: Acres
Parking
Total: 12
Property
Property subtype: Com-Res Income, Property type: Residential Income
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