1915-1921 4th Ave - Apartments FOR SALE


San Diego, CA 92101- Bankers Hill
$5,400,000 USD
714-423-3819
1915-1921 4th Ave, San Diego, CA for Sale
$5,400,000 USD
Apartments - FOR SALE
1/7
null | 4% Cap Rate

1915-1921 4th Ave
San Diego, CA 92101
Bankers Hill


HIGHLIGHTS

  • 4.00% ProForma CAP Rate / Offering actual CAP Rate of 2.83% / Major upside in rental income / 0.115 acre lot
  • First time to the market in 25+ years / Excellent unit mix of studios, 1 bedroom units and 2 bedroom units.
  • Studio leasing at an average rate of $1,800/month in Bankers Hill / 1 Bedroom units are leasing at an average rate of +$2,400/month in Bankers Hill
  • 2 Bedroom units are leasing at an average rate of $2,800/month in Bankers Hill
  • There are several notable developments in the San Diego area, particularly near Bankers Hill, and some linked to SDSU (San Diego State University).
  • Redevelopment Potential / Multifamily Options / Opportunities to utilize San Diego’s density bonus program to build larger projects.

OVERVIEW

Drive by only, please contact Le Investment Group for the full offering memorandum. Bankers Hill is a prime investment and redevelopment opportunity, driven by dynamic growth and high demand. With median home values at $1.2M (+10% YoY), median sale prices are (+12% YoY), and average rents of $3,432, the neighborhood boasts a strong real estate and rental market. Population and job growth in San Diego continue to fuel housing demand. Exciting developments include the Quince Apartments (262 units with luxury amenities) and 411 Ivy Street (nearly 200 new units). Medical growth, like UCSD Health's new clinic and a planned $40M health center with senior housing, enhances the area's appeal. Redevelopment options range from luxury condominiums and mixed-use projects to affordable housing leveraging density bonuses. With proximity to downtown, Balboa Park, and a growing medical district, Bankers Hill offers historic charm, modern living, and significant appreciation potential for investors. Located at 1915-1921 4th Avenue, this rare multifamily property in the highly desirable Bankers Hill neighborhood of San Diego is hitting the market for the first time in over 25 years. This property features 11 units, including 2 studios, 7 one-bedroom units, and 2 two-bedroom units, offering a versatile mix ideal for renters. Situated on a hill, the property provides stunning panoramic views of downtown San Diego and the Bay, enhancing its appeal. Bankers Hill is known for its charming blend of historic Victorian and Craftsman architecture alongside modern amenities. Residents enjoy proximity to Balboa Park, vibrant dining, cultural attractions, and major employment hubs, including the UCSD Medical District and downtown. With significant redevelopment potential, this property offers opportunities for upgrades to luxury condominiums, mixed-use projects, or higher-density multifamily housing leveraging San Diego's density bonus programs. This property is an excellent investment in a dynamic, high-demand market.

FOR SALE DETAILS

PRICE

$5,400,000 USD

PRICE/SF

$806 USD /SF

# OF UNITS

11

PRICE/UNIT

$490,909

CAP RATE

4%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1940

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,792 SF

ZONING

CV-4, San Diego

APN/PARCEL ID

533-292-05

ASK ABOUT THIS PROPERTY

Anthony LeLe Investment GroupMore Info
714-423-3819

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Anthony LeLe Investment GroupMore Info
714-423-3819

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.