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4th Avenue Hillcrest Lofts 3574 4th Ave 8 Unit Apartment Building $4,995,000 ($624,375/Unit) 4.45% Cap Rate San Diego, CA 92103
INVESTMENT HIGHLIGHTS
- Prime location between Banker's Hill, Hillcrest, and Uptown
- In-unit washer/dryers and air conditioning in every residence
- Walking distance to Balboa Park and Hillcrest dining district
- Eight upgraded units featuring modern kitchens and baths
- Strong income profile with $264,000 GSI and 4.45% cap rate
- Fully landscaped lot with eight parking spaces and alley access
EXECUTIVE SUMMARY
This signature income property offers a rare opportunity to own a landmark multifamily asset in one of San Diego’s most coveted neighborhoods—Banker’s Hill, Hillcrest, and Uptown. The property consists of eight high-quality residences: four spacious one-bedroom units and four contemporary studio apartments, each thoughtfully upgraded with modern kitchens, stylish bathrooms, air conditioning, and in-unit washer/dryers. Hardwood and vinyl flooring complement the interiors, creating a timeless appeal for discerning tenants.
Strategically positioned near vibrant retail corridors, cultural attractions, and major employment hubs, this property benefits from exceptional walkability and proximity to Balboa Park, Downtown San Diego, and the Hillcrest dining scene. With easy access to Interstate 5 and SR-163, residents enjoy seamless connectivity to the greater metro area and San Diego International Airport.
Financially, the asset delivers strong performance with a Gross Scheduled Income of $264,000 and a Net Operating Income of $222,500, reflecting a solid 4.45% cap rate. The property sits on a fully landscaped lot with eight dedicated parking spaces and alley access, enhancing convenience for tenants. Zoned for multifamily use, this investment is ideal for buyers seeking stability, architectural character, and long-term appreciation in a high-demand rental market.
Strategically positioned near vibrant retail corridors, cultural attractions, and major employment hubs, this property benefits from exceptional walkability and proximity to Balboa Park, Downtown San Diego, and the Hillcrest dining scene. With easy access to Interstate 5 and SR-163, residents enjoy seamless connectivity to the greater metro area and San Diego International Airport.
Financially, the asset delivers strong performance with a Gross Scheduled Income of $264,000 and a Net Operating Income of $222,500, reflecting a solid 4.45% cap rate. The property sits on a fully landscaped lot with eight dedicated parking spaces and alley access, enhancing convenience for tenants. Zoned for multifamily use, this investment is ideal for buyers seeking stability, architectural character, and long-term appreciation in a high-demand rental market.
PROPERTY FACTS
| Price | $4,995,000 | Apartment Style | Low-Rise |
| Price Per Unit | $624,375 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.15 AC |
| Cap Rate | 4.45% | Building Size | 5,506 SF |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1915 |
| Property Subtype | Apartment | Parking Ratio | 0.73/1,000 SF |
| Zoning | NP-1 | ||
| Price | $4,995,000 |
| Price Per Unit | $624,375 |
| Sale Type | Investment |
| Cap Rate | 4.45% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.15 AC |
| Building Size | 5,506 SF |
| No. Stories | 2 |
| Year Built | 1915 |
| Parking Ratio | 0.73/1,000 SF |
| Zoning | NP-1 |
AMENITIES
UNIT AMENITIES
- Balcony
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | - | 954 - 1,083 |
1 1
Walk Score®
Walker's Paradise (94)
PROPERTY TAXES
| Parcel Number | 452-402-27 | Improvements Assessment | $923,619 |
| Land Assessment | $1,127,174 | Total Assessment | $2,050,793 |
PROPERTY TAXES
Parcel Number
452-402-27
Land Assessment
$1,127,174
Improvements Assessment
$923,619
Total Assessment
$2,050,793
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4th Avenue Hillcrest Lofts | 3574 4th Ave
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