Hillcrest Multifamily Investment
For Sale
$1,550,000
3967-69 8th, San Diego, CA 92103
MULTI_FAMILY - San Diego, CA
Property Size3,600 SF
Lot Size0.10 Acres
Price / SF$430.56
Days on Market304
Property Features for 3967-69 8th
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 2, Bathroom 1, Bedroom 1, Bathroom 4, Bathroom 3, Bedroom 2, Bedroom 4, Bedroom 3, Bathroom 5
Parking
4
Subdivision
MISSION HILLS (92103)
Standard status
Active
APN
444-690-05-00
Size
3,600 SF
Lot size
0.10 Acres
Utilities
Heating system
Forced Air, Central, Natural Gas
Building Details
Floors in Building
2
Number of units
5
Flooring type
Wood
Roof type
Composition
Listing Agency:
Hacienda Realty
(619) 224-6873
Listed By:
Christamaria E Ormsby · License #01414321
(619) 417-4493
Added: Oct 7, 2025
Changed: Aug 6
Last Checked: Aug 6 at 3:06AM
MLS# 250040977
Copyright © 2026 San Diego MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Located in Hillcrest, this multifamily property is situated one block from Whole Foods, Better Buzz, shops, and dining options. The property consists of two buildings featuring two studios, two one-bedroom units, and one two-bedroom home. The property offers an opportunity to purchase adjoining parcels for developers looking to expand and potentially develop a larger complex of up to 160 units. This 3,600 square foot property sits on a 0.1019-acre lot. The property presents a new construction opportunity.
Key Highlights
- Two‑building 5‑plex layout: 2 studios, 2 one‑bedroom units, and 1 two‑bedroom home
- Opportunity to purchase adjoining parcels 444‑690‑03‑00 and 444‑690‑04‑00 for expansion (potentially up to 160 units)
- Central forced‑air heating with natural gas
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $114.5k | $31.80 |
| − Vacancy | −$6.3k | −$1.75 |
| EGI | $108.2k | $30.05 |
| − OpEx | −$48.7k | −$13.52 |
| NOI | $59.5k | $16.53 |
3,600 SF · lease $31.80/SF/yr · vacancy 5.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$850.0K
$743.8K – $991.7K
NOI $59,501 @ 7.0% cap · market cap 3.84%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.42M
$1.24M – $1.66M
NOI $99,533 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,755
Businesses Nearby
Explore this area
Business Placement
Demographics for 92103, CA
33,311
Population
21,363
Households
1.6
Avg Household Size
42
Median Age
63%
College-Educated
97%
High-School Grad
3.7 sq mi
ZIP Area
9,003
Density / Sq Mi
$96,887
Median Household Income
$69,732
Median Earnings
$2,020
Median Rent
$986,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property near Whole Foods with development potential.
Where is this apartment building located?
The property is located at 3967-69 8th San Diego, CA.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Two‑building 5‑plex layout: 2 studios, 2 one‑bedroom units, and 1 two‑bedroom home; Opportunity to purchase adjoining parcels 444‑690‑03‑00 and 444‑690‑04‑00 for expansion (potentially up to 160 units); Central forced‑air heating with natural gas
