Investment Overview

Marcus & Millichap is pleased to present 3933–45 Hamilton Street located in San Diego, California. Built in 1927, this 14-unit apartment complex totals approximately 7,056 rentable square feet and sits on a large ±13,986 square foot lot in the highly desirable neighborhood of North Park — one of metro San Diego’s most in-demand rental markets. With a Walk Score of 95, tenants enjoy unmatched convenience and access to the area’s best amenities. The unit mix is comprised of twelve one-bedroom/one-bathroom units and two two-bedroom/one-bathroom units. Tenant offerings include gated access, a spacious common courtyard, on-site laundry, eight off-street parking spaces, a two-car garage, and a one-car garage. Currently well-maintained but operating with below-market rents, the property provides investors a clear value-add opportunity through interior renovations and rent growth. Ownership has recently completed several key improvements including a full exterior repaint in its original classic white style, replacement of 12 out of 18 custom windows, new roofs on the front buildings, and updated landscaping. The property has been continually recognized by the North Park Historical Society as a prominent landmark in the community, increasing the likelihood of historic designation. This could potentially lead to Mills Act tax benefits, resulting in significant property tax savings for new ownership. Situated just one block from University Avenue and a few blocks from 30th Street, the property offers residents easy access to North Park’s vibrant dining, retail, and entertainment scene, as well as proximity to the 163 and 805 freeways. 3933–45 Hamilton Street offers investors a rare chance to acquire a historically significant, value-add asset with strong rental upside in one of San Diego’s most desirable neighborhoods. Additionally, the rear garages provide the potential for conversion into two Accessory Dwelling Units (ADUs).