Investment Overview

Marcus & Millichap proudly presents an exclusive opportunity: 1037-39 University Ave, San Diego, CA 92103, a mixed-use property nestled in the vibrant heart of Hillcrest, one of San Diego’s most coveted urban neighborhoods. Positioned along University Avenue between Vermont Street and 10th Avenue, this property boasts a charming two-story building spanning approximately 3,900 square feet on a generous +/- 3,498 square feet of prime land. Originally erected in 1925, the property showcases the timeless elegance of art deco architecture, reflecting the rich heritage of Uptown San Diego. The ground floor, comprising of 2,800 square feet, hosts a retail space presently leased to Lockdown Escape Room on a short-term basis. Ascend to the second floor to discover two meticulously appointed residential units, each featuring one bedroom and one bathroom, ranging from 500 to 600 square feet, presently leased at below-market rates. In the rear of the property are three surface parking spaces with alley access. This offering presents an extraordinary opportunity for discerning buyers and entrepreneurs alike to acquire a turnkey mixed-use gem in the heart of Urban San Diego, perfectly poised to fulfill diverse commercial and residential ambitions. It’s an exceptional owner-user opportunity, providing a chance for a business owner to establish their presence in the vibrant landscape of Hillcrest and supplement their occupancy cost from the apartment units upstairs. Ideally situated in Hillcrest’s bustling retail corridor along University Avenue, just 2.5 miles northeast of Downtown San Diego and bordering the iconic Balboa Park, this neighborhood epitomizes urban living at its finest. A haven for pedestrians, Hillcrest boasts a kaleidoscope of amenities including quaint cafes, delectable restaurants, chic bars, vibrant nightclubs, lush parks, and much more. From a real estate investment standpoint, Hillcrest reigns as one of San Diego’s most sought-after urban enclaves, drawing attention for its favorable zoning adjustments that have spurred new apartment developments. Furthermore, its close proximity to prominent medical centers, including the undergoing $3 billion renovation and expansion of the UCSD Medical Center, underscores its position as a dynamic market with boundless potential.