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3830 1st Ave - Permit Ready 56-Unit Development Site 0.14 Acres of Commercial Land Offered at $2,300,000 in San Diego, CA 92103
INVESTMENT HIGHLIGHTS
- Exceptional opportunity to acquire an RTI multifamily development site in the heart of Hillcrest
- Market rate units exempt from AB1482 rent control measures for 15 years
- Superior walkability to neighborhood coffeeshops, restaurants, shops, theaters & playhouses, parks, and schools
- Desirable unit mix of studio- and one-bedroom floorplans
- Minutes away from major employment centers such as Downtown and Mission Valley
EXECUTIVE SUMMARY
Once completed, First Avenue Lofts will feature sixteen (16) studio units averaging 380 square feet and forty (40) one-bedroom/one-bathroom units ranging from 570 to 715 square feet. The eight-story building will total 37,975 square feet, including 32,215 net rentable square feet. Each residence will be outfitted with modern, high-end finishes such as 9-foot ceilings, quartz countertops, full kitchen appliance packages, HVAC, built-in shelving, and custom cabinetry.
Positioned in the heart of Hillcrest, one of San Diego’s most desirable rental neighborhoods, the property offers exceptional visibility and premier walkability. With a Walk Score of 97, Walkscore.com designates the area a “Walker’s Paradise.” Just under a mile from Balboa Park, residents will have access to an array of recreational amenities including tennis courts, a public pool, baseball fields, an archery range, hiking trails, a dog park, disc golf course, playgrounds, and a dedicated bicycle speed track.
The property also provides immediate pedestrian access to the popular dining and entertainment venues along University Avenue and Robinson Avenue. Strategically located near CA-163 and Interstate 5, First Avenue Lofts offers direct connectivity to San Diego’s primary employment hubs such as Downtown, Mission Valley, and Kearny Mesa.
This development represents a rare opportunity to acquire a shovel-ready project in Hillcrest, a core submarket at the forefront of rental demand and growth in San Diego. Future ownership will benefit from proximity to comparable apartment communities, essential infrastructure, and dynamic local amenities. With its forward- thinking design, upscale interior finishes, and ideal unit mix tailored for the local workforce, First Avenue Lofts presents a compelling investment in a next-generation multifamily asset poised to deliver strong and sustained rental performance for years to come.
PROPERTY FACTS
| Price | $2,300,000 | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 0.14 AC |
| Property Type | Land | No. Stories | 2 |
| Zoning | RM3-9 | ||
| Price | $2,300,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | |
| Total Lot Size | 0.14 AC |
| No. Stories | 2 |
| Zoning | RM3-9 |
1 LOT AVAILABLE
Lot
| Price | $2,300,000 | Lot Size | 0.14 AC |
| Price Per AC | $16,428,571.43 |
| Price | $2,300,000 |
| Price Per AC | $16,428,571.43 |
| Lot Size | 0.14 AC |
DESCRIPTION
We are pleased to present First Avenue Lofts, a fully entitled 56-unit multifamily development opportunity located at 3830 First Avenue, San Diego, CA. Once completed, First Avenue Lofts will feature sixteen (16) studio units averaging 380 square feet and forty (40) one-bedroom/one-bathroom units ranging from 570 to 715 square feet. The eight-story building will total 37,975 square feet, including 32,215 net rentable square feet. Each residence will be out?tted with modern, high-end ?nishes such as 9-foot ceilings, quartz countertops, full kitchen appliance packages, HVAC, built-in shelving, and custom cabinetry. Positioned in the heart of Hillcrest, one of San Diego’s most desirable rental neighborhoods, the property offers exceptional visibility and premier walkability. With a Walk Score of 97, Walkscore.com designates the area a “Walker’s Paradise.” Just under a mile from Balboa Park, residents will have access to an array of recreational amenities including tennis courts, a public pool, baseball ?elds, an archery range, hiking trails, a dog park, disc golf course, playgrounds, and a dedicated bicycle speed track. The property also provides immediate pedestrian access to the popular dining and entertainment venues along University Avenue and Robinson Avenue. Strategically located near CA-163 and Interstate 5, First Avenue Lofts offers direct connectivity to San Diego’s primary employment hubs such as Downtown, Mission Valley, and Kearny Mesa. This development represents a rare opportunity to acquire a shovel-ready project in Hillcrest, a core submarket at the forefront of rental demand and growth in San Diego. Future ownership will bene?t from proximity to comparable apartment communities, essential infrastructure, and dynamic local amenities. With its forward-thinking design, upscale interior ?nishes, and ideal unit mix tailored for the local workforce, First Avenue Lofts presents a compelling investment in a next-generation multifamily asset poised to deliver strong and sustained rental performance for years to come.
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3830 1st Ave - Permit Ready 56-Unit Development Site
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