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Investment Highlights
- INFILL LOCATION Hillcrest/Uptown
- REDEVELOPMENT Future density potential
- COVERED LAND Interim income in place
- OPTIONALITY Possible assemblage upside
Executive Summary
Highly desirable Hillcrest / Uptown submarket of San Diego, with the intent of a future redevelopment. Positioned in the heart of Hillcrest—one of San Diego’s most walkable, amenity-rich, and renter-preferred urban neighborhoods—the current property and any future residential development offers residents immediate access to employment, recreation, dining, and healthcare anchors within a compact urban footprint.
The property consists of 82 residential units across 5 buildings on approximately 3.15 acres, providing interim cash flow while offering redevelopment optionality.
Hillcrest is one of San Diego’s most supply-constrained rental markets, supported by a high renter population and anchored by major employers including UC San Diego Medical Center and Scripps Mercy Hospital. Ongoing investment in the surrounding medical campus and limited new housing deliveries continue to support long-term residential demand in the area.
Adjacent properties may also be available, creating a land assemblage opportunity of over 4 acres. Ownership retained Safdie Rabines Architects to conduct a feasibility study. This is available to review upon execution of a Confidentiality Agreement and can be discussed in depth with the Investment Sales team.
The property consists of 82 residential units across 5 buildings on approximately 3.15 acres, providing interim cash flow while offering redevelopment optionality.
Hillcrest is one of San Diego’s most supply-constrained rental markets, supported by a high renter population and anchored by major employers including UC San Diego Medical Center and Scripps Mercy Hospital. Ongoing investment in the surrounding medical campus and limited new housing deliveries continue to support long-term residential demand in the area.
Adjacent properties may also be available, creating a land assemblage opportunity of over 4 acres. Ownership retained Safdie Rabines Architects to conduct a feasibility study. This is available to review upon execution of a Confidentiality Agreement and can be discussed in depth with the Investment Sales team.
Property Facts
| Sale Type | Investment | Lot Size | 3.26 AC |
| No. Units | 82 | Building Size | 82,548 SF |
| Property Type | Multifamily | Average Occupancy | 96% |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 1962 |
| Building Class | C | Parking Ratio | 1/1,000 SF |
| Zoning | RM-3-9 - Residential Multifamily | ||
| Sale Type | Investment |
| No. Units | 82 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 3.26 AC |
| Building Size | 82,548 SF |
| Average Occupancy | 96% |
| No. Stories | 3 |
| Year Built | 1962 |
| Parking Ratio | 1/1,000 SF |
| Zoning | RM-3-9 - Residential Multifamily |
Amenities
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Tub/Shower
Site Amenities
- Laundry Facilities
- Pool
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 18 | - | 398 |
| 1+1 | 8 | - | 497 - 560 |
| 2+1 | 44 | - | 772 - 986 |
| 2+2 | 12 | - | 1,025 - 1,192 |
Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
50/100
Fairly bikeable
40/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $9,282,000 | |
| Land Assessment | $13,239,600 | Total Assessment | $22,521,600 |
Property Taxes
Parcel Numbers
Land Assessment
$13,239,600
Improvements Assessment
$9,282,000
Total Assessment
$22,521,600
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Sleepy Hollow Apartments | 4201 6th Ave
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