About 3956-3962 1st
We are is pleased to present 3956-3962 1st Avenue, a mixed use property located in the desirable urban neighborhood of Hillcrest in San Diego. The unit count includes 13 apartments plus two office suites. The subject consists of a 13-unit multifamily building and a 2,220 square foot office building situated on three adjacent parcels totaling approximately 0.5 acres (20,663 square feet). The subject is strategically located in the highly walkable neighborhood of Hillcrest on First Avenue between the major east-west thoroughfares of Washington Street and University Avenue. The property has superb drive-by visibility, abundant parking and alley access. Tenants are walking distance to several restaurants, bars, coffee shops and boutique shops. Proximate to several freeways including I-5, I-8 and the 163, residents have convenient access to all major employment centers. The apartments were originally constructed in 1955 and the property is well maintained. There is opportunity for a Buyer to capitalize on a full renovation program to substantially increase rents. Alternately, the property offers a prime redevelopment opportunity. Recent updates to the City of San Diego's development regulations would permit a higher density development than the base zone allows.
