3602-08 Indiana Street San Diego, CA 92103

Listing office The Mendes Company

Listing date May 22, 2026

Source Crexi

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Investment Insights

Based on property information with market context.

Offered for the first time in over 25 years, this eight-unit multifamily asset presents a combination of immediate value-add upside and long-term development potential. The unit mix includes three 2BD/1BA units, one 3BD/1BA unit, two studios, and two 1BD/1BA units, providing a diversified income stream with rents below market value. There are four rear garages that present an ADU conversion opportunity, with the potential to add up to four additional income-producing units. The property is located in Hillcrest, an urban village with low vacancy rates. The location is near UCSD Health and Sharp Memorial Hospital, and Balboa Park. The neighborhood attracts healthcare professionals, young creatives, and long-term residents. University Avenue and Fifth Avenue offer independent dining, retail, and nightlife options.

Key Highlights

• Significant value‑add potential through rent increases to market rates.
• Opportunity to add up to four ADUs by converting existing garages, increasing income and property value.
• Located in highly desirable Hillcrest, known for low vacancy rates and strong renter demand.

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FAQs

What type of property is this?

Apartment building - Eight-unit multifamily property with value-add and development potential.

Where is this apartment building located?

The property is located at 3602-08 Indiana Street San Diego, CA.

What is the asking price?

The asking price for this property is $3,395,000.

What are key features of this property?

This property features: Significant value‑add potential through rent increases to market rates.; Opportunity to add up to four ADUs by converting existing garages, increasing income and property value.; Located in highly desirable Hillcrest, known for low vacancy rates and strong renter demand.