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Mixed-Use

Hillcrest West Mixed-Use

127 W University Ave, San Diego, CA 92103

Listing Price: $1,645,000

Cap Rate
2.37%
Number of Units
1
Occupancy
48.0%
Price/Unit
$1,645,000
Price/Gross SF
$432.89
Gross SF
3,800

Investment Overview

Marcus & Millichap, is pleased to present 127-131 W University Ave, San Diego, CA 92103, 3,800 square-foot, two story, mixed-use building, located in the heart of the vibrant urban community of Hillcrest in San Diego, California. The property consists of 1 ground floor Retail suite that will be made available for an owner-user to occupy. The second story of the building consists of 2 Residential spaces, both of which are (2BR/1BA) apartment units and are approximately 78% below market rents. The project is made up of 52% Retail and 48% Multi-Family. The property is located on University Ave close to the main intersection at University Avenue and 3rd Ave, the main thoroughfare of Hillcrest. The Hillcrest neighborhood is surrounded by local restaurants, bars, coffee shops, boutiques, shopping, and urban housing. Walkability walker’s paradise score of 91. According to CoStar Analytics for Q3 2020, Hillcrest is experiencing retail vacancy of 6.4% and an average rent of $3.00 NNN. Apartment vacancy is currently 3.8% and the average rent for Apartments in Hillcrest is $2,500 for 2BR units. The property is Located near the 163 Freeway entrance with (171,000 VPD) and only a few miles to San Diego International Airport.

Investment Highlights

  • Owner-User or Investment Opportunity on University Avenue in the Urban Hillcrest Community
  • 3,800 SF Mixed-Use Building, with Ground Floor Retail and Two (2BD/1BA) Apartment Units
  • Nearby projects include: $2 Billion Dollar, 60 Acre, 1,000 Apts, UCSD Hospital Redevelopment, along with Retail, Restaurants, Breweries & Residential Developments.

Exclusively Listed By

Listing Price: $1,645,000

Cap Rate
2.37%
Number of Units
1
Occupancy
48.0%
Price/Unit
$1,645,000
Price/Gross SF
$432.89
Gross SF
3,800

Investment Highlights

  • Owner-User or Investment Opportunity on University Avenue in the Urban Hillcrest Community
  • 3,800 SF Mixed-Use Building, with Ground Floor Retail and Two (2BD/1BA) Apartment Units
  • Nearby projects include: $2 Billion Dollar, 60 Acre, 1,000 Apts, UCSD Hospital Redevelopment, along with Retail, Restaurants, Breweries & Residential Developments.

Investment Overview

Marcus & Millichap, is pleased to present 127-131 W University Ave, San Diego, CA 92103, 3,800 square-foot, two story, mixed-use building, located in the heart of the vibrant urban community of Hillcrest in San Diego, California. The property consists of 1 ground floor Retail suite that will be made available for an owner-user to occupy. The second story of the building consists of 2 Residential spaces, both of which are (2BR/1BA) apartment units and are approximately 78% below market rents. The project is made up of 52% Retail and 48% Multi-Family. The property is located on University Ave close to the main intersection at University Avenue and 3rd Ave, the main thoroughfare of Hillcrest. The Hillcrest neighborhood is surrounded by local restaurants, bars, coffee shops, boutiques, shopping, and urban housing. Walkability walker’s paradise score of 91. According to CoStar Analytics for Q3 2020, Hillcrest is experiencing retail vacancy of 6.4% and an average rent of $3.00 NNN. Apartment vacancy is currently 3.8% and the average rent for Apartments in Hillcrest is $2,500 for 2BR units. The property is Located near the 163 Freeway entrance with (171,000 VPD) and only a few miles to San Diego International Airport.

Exclusively Listed By

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