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312 Brookes Ave

San Diego, CA 92103
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Bed 4

Bed

Bath 4

Bath

Fully leased and extensively renovated in 2025 four-unit investment property in the heart of Hillcrest. Each residence offers one bedroom and one bathroom with updated kitchens, stainless-steel appliances, modern flooring, newer windows, wall-mounted air conditioning, and in-unit laundry. Property improvements include upgraded electrical systems, fire sprinklers, and a newer water main. Select units include gated parking. Each unit has a separate SDG&E meter and only one water meter. The property currently generates approximately $143,880 in gross scheduled annual income with an estimated stabilized NOI of $111,690. All four leases are in place, offering immediate income and limited near-term capital improvement requirements. Located near major employment centers, medical facilities, resta urants, shopping, public transportation, Balboa Park, and Downtown San Diego. An attractive opportunity to acquire a stabilized residential income property in one of San Diego’s most desirable and supply-constrained rental markets. Offering Memorandum, rent roll, leases, and financial information are available upon request. Buyer to verify all property information, permits, square footage, income, expenses, and operating assumptions. Exceptional opportunity to acquire a fully leased, extensively renovated four-unit property in the heart of Hillcrest. Each residence offers one bedroom and one bathroom with an updated kitchen, stainless-steel appliances, modern flooring, newer windows, wall-mounted air conditioning, and in-unit laundry. Additional property improvements include upgraded electrical systems, fire sprinklers, and a newer water main. Select units include gated parking. The property currently generates approximately $143,880 in gross scheduled annual income with an estimated stabilized NOI of $111,690, providing immediate income from four existing leases. The seller may consider facilitating a potential vacancy for a buyer who intends to occupy one unit as a primary residence. This may provide an opportunity for a qualified buyer to pursue owner-occupied financing while using eligible rental income from the remaining units to assist with loan qualification. Financing terms, occupancy requirements, and the amount of rental income considered are subject to lender underwriting and approval. No vacancy is guaranteed, and any vacancy must comply with the existing lease, tenant agreement, and applicable law. Conveniently located near major medical and employment centers, restaurants, shopping, public transportation, Balboa Park, and Downtown San Diego. An attractive opportunity for an investor or potential owner-user seeking a stabilized residential income property in one of San Diego’s most desirable rental markets. Offering Memorandum and additional financial information are available upon request. Buyer to verify all property information, permits, square footage, income, expenses, financing options, and operating assumptions.

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Detail Ic Property Details

Property Type : ResidentialIncome

Price : $2,395,000

AD Id : 89924197

MLS Id : 260020675SD

Beds : 4

Year Built : 2010

County : San Diego

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Feature Features

  • Interior Features

    Roof: Composition, RolledHotMop
    Appliances: ElectricWaterHeater, GasWaterHeater
  • Heating & Cooling

    Has Heating: Yes Heating: Combination, Electric Has Cooling: Yes Cooling: Zoned

  • Building Information

    Year Built: 2010
    Stories: 2
    Private Pool: No

  • Lot Information

    Lot Size Source: Assessor Lot Description: SprinklerSystem

  • Listing Price Information

    Listing Price: $2395000
    Cash, Conventional

  • Tax Information

    Parcel Number: 4522851300

  • Location Information

    Direction: use Waze, iMaps or Google. Corner of 3rd Ave and Brookes Ave in 92103 CrossStreet: 3rd Ave Security Features: GatedCommunity
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
2831 37 Columbia Street, San Diego, CA, 92103 $1,990,000 8 4 -- --
1265 67 Lincoln Ave, San Diego, CA, 92103 $1,829,999 4 5 -- 3,461 Sqft
125 127 W Brookes, San Diego, CA, 92103 $1,550,000 4 3 -- --
4109 4111 Ibis Street, San Diego, CA, 92103 $1,999,999 6 3 -- 3,990 Sqft
4250 52 Cleveland Street, San Diego, CA, 92103 $3,200,000 8 11 -- 6,395 Sqft
3062 68 Columbia St, San Diego, CA, 92103 $2,095,000 8 4 -- --
802 6 Sutter Street, San Diego, CA, 92103 $1,850,000 6 5 -- --
4209 15 3rd Ave, San Diego, CA, 92103 $2,975,000 8 4 -- --
112 120 E Redwood Street, San Diego, CA, 92103 $2,599,000 6 5 -- 5,236 Sqft
1024 1022 Pascoe St., San Diego, CA, 92103 $1,222,000 3 3 1,227 1,790 Sqft

The information being provided by Miami Association of REALTORS® is for the consumer's personal, non-commercial use. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the Miami Association of REALTORS®. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by Miami Association of REALTORS® and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright 2026 Miami Association of REALTORS®. All rights reserved.

ByOwner last updated this listing 09/02/2026 @ 10:04

MLS: 260020675SD LISTED BY: Jean Paul Schwarz, The Schwarz Group 858-779-1303 SOURCE: CRMLS

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