705-711 W Pennsylvania Ave - Apartments FOR SALE


San Diego, CA 92103- Hillcrest
$2,297,000 USD
858-344-2853
705-711 W Pennsylvania Ave, San Diego, CA for Sale
$2,297,000 USD
Apartments - FOR SALE
1/16
null | Request Cap Rate

705-711 W Pennsylvania Ave
San Diego, CA 92103
Hillcrest


HIGHLIGHTS

  • Prime Mission Hills location near Downtown, Balboa Park, and major freeways.
  • Four spacious two-bedroom units with classic Mid-Century design elements.
  • Recent capital improvements include electrical upgrades, mini-split A/C, dual-pane windows, and exterior painting.
  • Strong rental upside of approximately 22%, with potential to lease garage space.
  • Quiet residential setting within a high-demand neighborhood of single-family homes.
  • Long-term ownership with well-maintained property condition and minimal immediate capital needs.

OVERVIEW

This Mission Hills fourplex offers a rare investment opportunity in one of San Diego’s most desirable neighborhoods. Located at 705–711 West Pennsylvania Street, the property consists of four spacious two-bedroom, one-bath units averaging 873 square feet each. The building retains its Mid-Century charm while benefiting from significant recent upgrades, including updated electrical panels, mini-split air conditioning units, dual-pane windows, and a full exterior repaint. Classic kitchens feature original two-tone tile counters, complemented by hardwood floors and individual water heaters. The property is situated on a quiet residential street within an enclave of single-family homes, just south of the Mission Hills retail district and minutes from Downtown San Diego, Balboa Park, and major freeways (I-5, I-8, and Highway 163). This prime location ensures strong tenant demand and long-term value appreciation. With a current gross scheduled income of $118,596 and a projected market rent of $144,600, the property offers approximately 22% rental upside, including the potential to lease the two-car garage currently used for storage. Additional value-add opportunities include updating kitchens and baths or installing in-unit laundry to further enhance market positioning. This is an exceptional chance to acquire a stabilized asset with upside in a high-barrier-to-entry submarket.

FOR SALE DETAILS

PRICE

$2,297,000 USD

PRICE/SF

$658 USD /SF

# OF UNITS

4

PRICE/UNIT

$574,250

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1949

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,227 SF

ZONING

RM-1-1

APN/PARCEL ID

451-272-26

ASK ABOUT THIS PROPERTY

Robert Vallera CCIMVoit Real Estate ServicesMore Info
858-344-2853

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Robert Vallera CCIMVoit Real Estate ServicesMore Info
858-344-2853

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