4 on Robinson 1714 Robinson Ave 4 Unit Apartment Building $2,300,000 ($575,000/Unit) 5.24% Cap Rate San Diego, CA 92103

We are pleased to present 1714–20 Robinson Avenue and 3755 Centre St, a rare four-unit multifamily investment opportunity located in the heart of San Diego’s highly desirable Hillcrest neighborhood. Situated on a 7,148 square foot corner lot with frontage on Robinson Avenue, Centre Street, and alley access, the property offers exceptional flexibility, strong rental demand, and long-term development potential. The property enjoys a Walk Score of 95, placing residents within immediate walking distance to Hillcrest’s vibrant restaurant, retail, and nightlife corridor, as well as Balboa Park and UC San Diego Medical Center.
The property is comprised of three separate residential structures totaling four units. A charming Craftsman-style two-bedroom, one-bathroom home faces Centre Street and offers excellent curb appeal and standalone living. The middle structure consists of two single-car garages with a two-bedroom, one-bathroom apartment located above the garages. The third structure includes two spacious two-bedroom, one-bathroom units of approximately 1,000 square feet each, providing desirable layouts for tenants seeking larger living spaces in this urban neighborhood.
The current owner occupies one of the units and intends to vacate at or shortly after the close of escrow. The remaining three units will be delivered vacant, providing a rare opportunity for a new owner to renovate and reposition the property or lease the units in their current condition. This vacancy allows investors the ability to capture immediate rental upside in one of San Diego’s most supply-constrained rental markets.
The property also benefits from usable space for approximately four to six off-street parking spaces depending on configuration, in addition to the two existing garages. With frontage on three sides of the parcel and alley access, the site provides excellent functionality for parking and circulation.
From a land-use perspective, the property is zoned RM-3-9 and is located within the City of San Diego’s Complete Communities Housing Solutions Overlay (Tier 2) with a maximum allowable FAR of 8. This designation may allow for increased residential density and reduced parking requirements for qualifying development projects (buyer to verify). As Hillcrest continues to see significant residential and mixed-use development activity, the property offers both a compelling value-add investment opportunity and long-term redevelopment potential in one of San Diego’s most desirable urban neighborhoods.