Skip to main content

Multifamily

3104 Third Ave

3104 Third Ave, San Diego, CA 92103

Listing Price: $2,415,000

Cap Rate
2.31%
Number of Units
3
Price/Unit
$805,000

Investment Overview

Marcus & Millichap is pleased to present 3104 Third Avenue in Bankers Hill / Hillcrest, San Diego. Built in approximately 1950, the property boasts a Walk Score of 88 and totals approximately 3,300 in rentable square feet. The building is situated on a 7,640 square foot lot located in a quiet are of stately historic homes steps away from Fifth Avenue. The Bankers Hill / Hillcrest area continues to be one of the most highly demanded rental markets in metro San Diego. The property consists of (1) three bedroom / two bathroom unit plus den, (1) three bedroom / one bathroom unit, and (1) studio cottage. The two largest units have been extensively renovated and feature expansive private decks. The studio cottage is newly constructed and fully permitted. All units include in-unit washers / dryers and central heating / air. Furthermore, all units have new plank flooring and (2) units have new wall heaters. Within the last three years, the plumbing, electrical, and sewer has been redone on all units, as well as the installation of new dual pane windows. There are also (2) off-street parking spaces on the property. Zoned RM-3-7, the property has the potential to build four additional units. Being within walking distance to Bankers Hill and Hillcrest's most popular attractions, the property's central location is a major draw for prospective tenants. 3104 3rd Avenue presents the rare opportunity to acquire a prime turn-key asset with significant rental upside in one of San Diego's premier rental markets.

Investment Highlights

  • In-Unit Laundry & (2) Off-Street Parking Spaces
  • Premier Bankers Hill / Hillcrest Location
  • Proximity to Fifth Avenue & Balboa Park
  • Large Lot with Potential to Add Additional Units
  • Prime Turn-Key Asset
  • Electrical, Plumbing, Sewer Redone with New Windows
  • Central Heating / Air

Exclusively Listed By

Listing Price: $2,415,000

Cap Rate
2.31%
Number of Units
3
Price/Unit
$805,000

Investment Highlights

  • In-Unit Laundry & (2) Off-Street Parking Spaces
  • Premier Bankers Hill / Hillcrest Location
  • Proximity to Fifth Avenue & Balboa Park
  • Large Lot with Potential to Add Additional Units
  • Prime Turn-Key Asset
  • Electrical, Plumbing, Sewer Redone with New Windows
  • Central Heating / Air

Investment Overview

Marcus & Millichap is pleased to present 3104 Third Avenue in Bankers Hill / Hillcrest, San Diego. Built in approximately 1950, the property boasts a Walk Score of 88 and totals approximately 3,300 in rentable square feet. The building is situated on a 7,640 square foot lot located in a quiet are of stately historic homes steps away from Fifth Avenue. The Bankers Hill / Hillcrest area continues to be one of the most highly demanded rental markets in metro San Diego. The property consists of (1) three bedroom / two bathroom unit plus den, (1) three bedroom / one bathroom unit, and (1) studio cottage. The two largest units have been extensively renovated and feature expansive private decks. The studio cottage is newly constructed and fully permitted. All units include in-unit washers / dryers and central heating / air. Furthermore, all units have new plank flooring and (2) units have new wall heaters. Within the last three years, the plumbing, electrical, and sewer has been redone on all units, as well as the installation of new dual pane windows. There are also (2) off-street parking spaces on the property. Zoned RM-3-7, the property has the potential to build four additional units. Being within walking distance to Bankers Hill and Hillcrest's most popular attractions, the property's central location is a major draw for prospective tenants. 3104 3rd Avenue presents the rare opportunity to acquire a prime turn-key asset with significant rental upside in one of San Diego's premier rental markets.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower