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Hillcrest Multifamily Investment Opportunity

3967-69 8th San Diego, CA 92103

3967-69 8th, San Diego, CA, 92103
$1,550,000
For Sale
Claim this Listing
$1,550,000

MULTI_FAMILY - San Diego, CA

Property Size3,600 SF
Lot Size0.10 Acres
Price / SF$430.56
AddedOct 6, 2025
Days on Market283
Last RefreshJul 15 at 12:06 pm

Property Features for 3967-69 8th

General Information

Property type
Residential Multi Family
Property subtype
Other
Bedrooms
4
Bathrooms
5
Rooms
Bedroom 1, Bedroom 3, Bedroom 4, Bathroom 2, Bathroom 4, Bathroom 1, Bedroom 2, Bathroom 5, Bathroom 3
Parking
4
Standard status
Active
APN
444-690-05-00
Size
3,600 SF
Lot size
0.10 Acres

Utilities

Heating system
Natural Gas, Central, Forced Air

Building Details

Floors in Building
2
Number of units
5
Flooring type
Wood
Roof type
Composition

Listing agent Christamaria E Ormsby License #01414321

Listing office Hacienda Realty 4683 Point Loma Avenue, San Diego, CA

Listing date Oct 6, 2025

MLS# 250040977 Listing URL

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

Local 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 (±1% cap)
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 (±1% cap)
NOI $99,533 @ 7.0% cap · market cap 6.42%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

HVAC Service Kitchen & Bath Showroom Computer & Electronic Repair Electrical Service Auto Parts Store Plumbing Service Carpet & Flooring Store Daycare Center Catering Service (Bike/Boat/Book/etc) Store

Zoning and permitted uses should be independently verified with local authorities.

FAQs

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
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More about this property
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