$3,870,000

3947-59 Third Ave San Diego, CA 92103

Hillcrest Neighborhood

Estimated payment $24,773/month

Total Views 2,696
12 Beds
12 Baths
6,484 Sq Ft
$597 Price per Sq Ft

About This Home

3947–59 3rd Avenue is a 12-unit multifamily investment opportunity located in the highly desirable Hillcrest neighborhood of San Diego, California.? Originally constructed in 1950, the property offers classic architectural character in one of the city's most walkable and supply-constrained rental submarkets.? The 6,484 sqft property consists of (12) one-bedroom / one-bathroom units, catering to a broad tenant base and providing a straightforward, efficient layout attractive to renters.? On a 10,497 sqft lot, it is located in Complete Communities Tier 2 with an 8.0 FAR.? Situated one parcel south of Washington St and along the prominent 3rd Avenue corridor, the asset benefits from immediate proximity to Hillcrest's vibrant retail, dining, and entertainment amenities, while offering convenient access to Downtown San Diego and major employment centers.? 3947–59 3rd Avenue presents investors with the opportunity to capitalize on strong in-place rental demand with additional upside through renovations and potential high density development.?

Listing Agent

Ben Sierpina

Marcus & Millichap License #02062416 Listed on: 05/13/2026

Co-Listing Agent

Raymond Choi

Marcus & Millichap License #01297138

Property Details

Home Type

  • Multi-Family

Parking

  • 4 Parking Spaces

Home Design

Interior Spaces

  • 12 Bedrooms
  • 6,484 Sq Ft Home
  • 2-Story Property

Community Details

Overview

  • 3 Buildings
  • 12 Units

Building Details

  • 12 Leased Units
  • Operating Expense $88,727

Property Details

Home Type

Multi-Family

Lot Details

0 Sq Ft Lot

Listing Details

  • Property Type: Residential Income
  • Stories: 2
  • Property Sub Type: Com-Res Income
  • CapRate: 3.77
  • Co List Office Mls Id: 62951
  • Co List Office Mls Id: 62951
  • Living Area: 6484.0
  • FeedTypes: IDX
  • RFModificationTimestamp: 2026-06-11T18:55:05Z
  • FullAddress: 3947-59 3rd Avenue
  • NumofLeasedApartments: 12
  • Special Features: VirtualTour

Interior Features

  • Total Bedrooms: 12

Garage/Parking

  • Total Parking Spaces: 4.0

Multi Family

  • Number Of Buildings: 3
  • Number Of Units Total: 12
  • Annual Operating Expense: 88727.0

Map

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
06/11/2026 06/11/26 For Sale $3,870,000 0.0% $597 / Sq Ft
06/03/2026 06/03/26 Pending -- -- --
05/13/2026 05/13/26 For Sale $3,870,000 -- $597 / Sq Ft
Source: San Diego MLS

Source: San Diego MLS

MLS Number: 260011651

San Diego MLS
California San Diego County San Diego 92103 Hillcrest

3947-59 Third Ave, San Diego, CA

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Ben Sierpina
Listing Agent
Ben Sierpina
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Marcus & Millichap
(858) 775-9825
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