3513 First Ave, Mission Hills, CA 92103

Property Description

We are pleased to exclusively present 3513-33 1st Avenue, a 19-unit multifamily investment opportunity located in the highly desirable Hillcrest neighborhood of San Diego. Originally constructed in 1931 and extensively upgraded, the property is situated on an approximately 11,177-square-foot lot and totals approximately 9,376 rentable square feet. The offering combines an irreplaceable urban location, 1930s architectural character paired with modernized building systems, and a large land footprint in one of San Diego's most supply-constrained submarkets. The property features a compelling unit mix of six (6) studio / one-bath units, five (5) one-bedroom / one-bath units and eight (8) two-bedroom / one-bath units, catering to strong demand for two-bedroom product in Hillcrest. Ownership has completed an extensive capital improvement program, including recently upgraded plumbing, upgraded electrical, new roof, new tankless gas water heaters, a new electric boiler and fire safety systems. Most units include an in-unit washer and dryer, supplemented by a common laundry room, and select units feature mini-split AC. The work pairs the architectural detail of a 1931 building with interiors finished to current standards, leaving a new owner with limited near-term capital requirements. Three (3) off-street parking spaces serve the property. Sold separately or together as a portfolio with: 2120 Mission Avenue | 27 Units 3621 Park Boulevard | 14 Units