CBRE is pleased to offer for sale a potential high-density multifamily development site or value-add opportunity at 3749-3763 4th Avenue in Hillcrest, the premier infill urban community of central San Diego. The site is a flat expansive 13,499 SF usable lot ideal for new development. The zoning is CC- 3-8 (High Density Residential) and located in Complete Communities Tier 2 with an FAR of 8. The site currently features a 12-unit residential community built in 1940. The unit mix consists of 8 spacious one-bedroom cottages and 4 two-bedroom townhouses. The existing improvements are ideal for providing income during the entitlement process. All tenants are currently month-to-month. Hillcrest is one of San Diego’s most sought-after housing markets offering a vibrant urban lifestyle while still maintaining a sense of tranquility. A favorite among young professionals and families, the property is steps from some of the county’s best restaurants, trendy café’s, parks, eclectic shops, schools, and entertainment. The area is thriving with new construction which blends with newly renovated historic buildings, offering both historic charm and contemporary urban living. The community features convenient access to neighboring Balboa Park, Little Italy, Old Town, Downtown and Mission Valley, along with interstates 5, 8, and Highway 163. Hillcrest is ideal for multifamily development.