1751 University Ave - Apartments FOR SALE


San Diego, CA 92103- Uptown San Diego
$20,000,000 USD
858-775-9825
1751 University Ave, San Diego, CA for Sale
$20,000,000 USD
Apartments - FOR SALE
1/27
null | 4.75% Cap Rate

1751 University Ave
San Diego, CA 92103
Uptown San Diego


HIGHLIGHTS

  • Unrivaled Hillcrest Location - On University Avenue with Exceptional Walkability
  • Rarely Traded Urban Asset Size of 58 Units
  • Significant Upgrades Throughout in Recent Years - Electrical, Elevator, Roof, Windows, Common Areas, Security System, Fire System
  • On-Site Amenities: Fitness/Yoga Center, Business Center, Leasing Office
  • Significant Upside Through Further Interior Renovations & Utilizing Common Areas
  • Upside in Rents and Opportunity For Additional Unit Amenities, Possible ADU Conversions in the Large Basement Space

OVERVIEW

Proud to present The Marquis at 1751 University Avenue, an exceptional 58-unit multifamily property located in the highly sought-after Hillcrest neighborhood of San Diego, California. Originally constructed in the 1920s, this well-maintained apartment complex sits on a 13,207-square-foot lot and offers approximately ±41,330 square feet and additionally a very large basement storage area. The property features a desirable unit mix, including (2) extra large penthouse units w/rooftop decks, (4) two-bedroom / two-bathroom units, (35) one-bedroom / one-bathroom units, and (9) studio apartments. Well maintained, a significant amount of upgrades have occurred over the years. Residents enjoy a variety of amenities such as gated access, a fully equipped fitness center, business center, additional storage, bicycle storage, in-unit fireplaces, and on-site laundry facilities. These offerings enhance tenant satisfaction and contribute to strong rental demand in the area. With current rents below market value and untapped renovation potential, this property represents a compelling value-add opportunity for investors aiming to modernize interiors and boost cash flow. Strategically positioned in Hillcrest, 1751 University Avenue benefits from exceptional walkability and access to the area’s top attractions. Just blocks away from iconic Balboa Park and with convenient access to the 163 freeway, the location ensures consistent tenant interest and long-term growth prospects.

FOR SALE DETAILS

PRICE

$20,000,000 USD

PRICE/SF

$484 USD /SF

# OF UNITS

58

PRICE/UNIT

$344,828

CAP RATE

4.75%

% LEASED

91%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Marquis

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1921

PARKING SPACES

11

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,068 SF

ZONING

MR10, San Diego

APN/PARCEL ID

452-200-34

ASK ABOUT THIS PROPERTY

Ben SierpinaMarcus & MillichapMore Info
858-775-9825

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Ben SierpinaMarcus & MillichapMore Info
858-775-9825

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