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PRICE DROP | 4 Units + Permits for 7-10 More 3420-3430 Wilshire Ter 4 Unit Apartment Building $2,700,000 ($675,000/Unit) 4.25% Cap Rate San Diego, CA 92104
INVESTMENT HIGHLIGHTS
- A+ Hillcrest/North Park Location with views
- Expansive 9,400+ SF lot
- Entrances on Georgia Street (92103) & Wilshire Terrace (92104)
- 4 existing large 2BR units with large decks + 7 permit ready units
- 1 block to Balboa Park
- Owner has spent approx. $300k on architects, engineers & the city for adding additional units
EXECUTIVE SUMMARY
BACK ON MARKET | PRICE REDUCTION! A+ Hillcrest / North Park Investment Opportunity! 4 Existing 2BR units with garages. 7-10 PERMIT READY UNITS. Owner has spent approx. $300k with architects, engineers & the city to deliver permit ready development. Buyer to verify. Located on a spacious 9,400+ SF lot with dual access from Georgia Street (92103) and Wilshire Terrace (92104). The existing 4 units are oversized 2-bedroom units—each featuring large private patios, in-unit washer/dryers, and value-add potential.
The site is located in highly desirable North Park / Hillcrest with sweeping views, just one block from Balboa Park. Near trendy restaurants, bars, and brand-new high-end condos, this is a rare chance to invest in one of San Diego’s most vibrant and walkable neighborhoods, with strong rental demand and long-term upside.
The site is located in highly desirable North Park / Hillcrest with sweeping views, just one block from Balboa Park. Near trendy restaurants, bars, and brand-new high-end condos, this is a rare chance to invest in one of San Diego’s most vibrant and walkable neighborhoods, with strong rental demand and long-term upside.
PROPERTY FACTS
| Price | $2,700,000 | Apartment Style | Low-Rise |
| Price Per Unit | $675,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.22 AC |
| Cap Rate | 4.25% | Building Size | 4,264 SF |
| Gross Rent Multiplier | 16.3 | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1994 |
| Property Subtype | Apartment | Parking Ratio | 0.47/1,000 SF |
| Zoning | R3 | ||
| Price | $2,700,000 |
| Price Per Unit | $675,000 |
| Sale Type | Investment |
| Cap Rate | 4.25% |
| Gross Rent Multiplier | 16.3 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 4,264 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1994 |
| Parking Ratio | 0.47/1,000 SF |
| Zoning | R3 |
AMENITIES
SITE AMENITIES
- Fenced Lot
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 2 | - | 850 |
| 2+2 | 2 | - | 825 |
1 1
Walk Score®
Very Walkable (77)
PROPERTY TAXES
| Parcel Number | 453-342-16 | Improvements Assessment | $636,724 |
| Land Assessment | $1,697,932 | Total Assessment | $2,334,656 |
PROPERTY TAXES
Parcel Number
453-342-16
Land Assessment
$1,697,932
Improvements Assessment
$636,724
Total Assessment
$2,334,656
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PRICE DROP | 4 Units + Permits for 7-10 More | 3420-3430 Wilshire Ter
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