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… Read More 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. Read Less
Courtesy of Conor Brennan, Broker, 720-841-8139, Conor M Brennan.
Listing Snapshot
Days Online
1
Last Updated
Property Type
Res Income 2-4 Units
Beds
6
Full Baths
5
Lot Size
0.16 Acres
Year Built
1930
MLS Number
260019147
30 Days Snapshot Of 92103
$1.22M
0%
(avg) sold price
0
-100%
homes sold
20
0%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1930, Building area total: 3350, 1 number of building, 3 stories total, Living area: 0, Living area units: Sqft, Building area units: Sqft, Building name: complex, 4 total units, Wood/Stucco, 3 Story
Community
BBQ
Cooling
Wall/Window
Expenses
Operating expense: $55,062
Fence
Gate
Water Features
Irrigation source: N/K, Water source: Meter on Property
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Based on information from the San Diego MLS /Association of REALTORS®
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Source: San Diego MLS
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