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Angel Ramirez

angel@ramirezrealtygroup.com +1(619) 818-4318

$ 1,450,000

Est. payment | -/mo

2,090 Sqft Lot

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$ 1,450,000

Est. payment | -/mo

Save

2,090 Sqft Lot

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Subdivision Hillcrest

MLS Listing ID 260024189SD

HOA Y/N No

Year Built 1920

Lot Size 2,090 Sqft

Property Description

215 Spruce Street presents a rare opportunity to acquire a well-maintained four-unit apartment property in the highly desirable Hillcrest neighborhood of San Diego. The property features an attractive unit mix of three 1-bedroom/1-bath residences of approximately 480 square feet and one studio of approximately 400 square feet. The building retains much of its original character, including hardwood flooring, custom built-ins, original cabinetry and woodwork, while select areas feature updated vinyl plank flooring and a mix of newer appliances. Unit A is further distinguished by a fireplace and newly installed floor heater, while the remaining residences are equipped with wall heaters. Each unit benefits from its own individual water heater, and residents have access to a rear courtyard, common-area deck and tenant storage. A single-car garage, currently utilized for owner storage, provides additional utility and potential future flexibility. The property has been self-managed by the same ownership for approximately 29 years and reflects a history of attentive ownership and long-term tenant retention, with residents having occupied the property for as long as 20 years. Importantly, three of the four units have not received rent increases in years, creating a compelling opportunity for a new investor to capture meaningful rental upside over time while implementing a targeted capital improvement program. Original kitchens, cabinetry, appliances and interior finishes provide a clear pathway for strategic modernization and enhanced rental positioning. Combining a highly sought-after central San Diego location, historically stable occupancy, distinctive vintage character and significant embedded income growth potential, 215 Spruce Street offers investors an increasingly rare opportunity to acquire a manageable multifamily asset in one of San Diego's most established rental submarkets.

Location

State CA

County San Diego

Area 92103 - Mission Hills

Building/Complex Name complex

Interior

Heating Combination, Electric

Cooling Wall/Window Unit(s)

Fireplace No

Appliance Gas Water Heater

Exterior

Community Features Gated

View Y/N Yes

Roof Type Composition

Building

Story 2

Entry Level Two

Level or Stories Two

Others

Senior Community No

Tax ID 4526260200

Security Features Gated Community

Acceptable Financing Conventional

Listing Terms Conventional

CRMLS Full IDX Feed (MAIN Website Search)

Listed by Conor Brennan Conor Brennan, Broker #01918598

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(619) 818-4318

angel@ramirezrealtygroup.com

310 Third Ave Suite # C-3, Chula Vista, California 91910, United States

215 Spruce Street San Diego, CA 92103

Angel Ramirez

Key Details

Location

Interior

Exterior

Building

Others

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215 Spruce Street