NOT LISTED FOR SALE

4209 Third Ave San Diego, CA 92103

Hillcrest Neighborhood
3 Beds
2 Baths
-- Sq Ft
9,994 Sq Ft Lot

Sale Details

Date Sold: May 14, 2025

Last sale price $3,350,000

36 Days on Market

About This Home

As of May 2025

This exceptional 9-unit multi-family investment offers strong income potential with significant upside. Situated on two separate lots with independent APNs, the property consists of three buildings: four 1-bedroom, 1-bath units, four 2-bedroom, 1-bath units, and a charming stand-alone bungalow with a bonus room/spare bedroom/den, that can be used by an owner to manage the units. The majority of units have been updated. The property remains consistently occupied with stable, long-term tenants and is currently rented well below market, presenting a fantastic value-add opportunity. Ideally located on a tree-lined street in a quiet yet convenient neighborhood near UCSD Medical Center, Scripps Mercy Hospital, shopping, restaurants, and major freeways. This well-positioned asset ensures high tenant demand and long-term growth. Don’t miss out on this exceptional investment.

Last Agent to Sell the Property

Chris Blanco

Berkshire Hathaway HomeServices California Properties License #01260292 Listed on: 02/15/2025

Berkshire Hathaway HomeServices California Properties

Co-Listed By

Bill Starling

Berkshire Hathaway HomeService License #00678477

Last Buyer's Agent

Ed Bustamante

South Bay Real Estate License #00845295

Property Details

Home Type

  • Multi-Family

Lot Details

  • 9,994 Sq Ft Lot
  • Wood Fence

Parking

  • Parking Available

Home Design

  • Composition Roof

Interior Spaces

  • 3 Bedrooms
  • 2-Story Property
  • Wood Flooring

Additional Homes

  • Number of ADU Units: 4

Utilities

  • Cooling System Mounted To A Wall/Window
  • Heating System Mounted To A Wall or Window

Listing and Financial Details

  • Total Actual Rent $15,513

Community Details

Overview

  • 3 Buildings
  • 9 Units

Building Details

  • 9 Leased Units
  • Operating Expense $47,447

Property Details

Home Type

Multi-Family

Lot Details

9,994 Sq Ft Lot

Listing Details

  • Property Type: Residential Income
  • Stories: 2
  • Unit Levels: 2 Story
  • Property Sub Type: Com-Res Income
  • Community Features: None
  • CapRate: 3.69
  • Co List Office Mls Id: 60833
  • FeedTypes: IDX
  • RFModificationTimestamp: 2025-05-15T02:12:14Z
  • FullAddress: 4209-4221 3rd Ave
  • NumofLeasedApartments: 9
  • ShortSale: No
  • SDMLS_NumofADUUnits: 4.0
  • Special Features: VirtualTour

Interior Features

  • Total Bedrooms: 3
  • Flooring: Slab, Wood

Exterior Features

  • Roof: Composition, Other/Remarks
  • Construction Type: Block Fence, Wood Fence

Garage/Parking

  • Parking Features: Spaces

Utilities

  • Cooling: Wall/Window
  • Heating: Wall
  • Laundry Features: Leased

Lot Info

  • Zoning: R-4
  • Lot Size Sq Ft: 9994.0

Multi Family

  • Number Of Buildings: 3
  • Number Of Units Total: 9
  • Annual Operating Expense: 47447.0
  • Total Actual Rent: 15513.0
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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
05/14/2025 05/14/25 Sold $3,350,000 -10.7% --
03/26/2025 03/26/25 Pending -- -- --
02/17/2025 02/17/25 For Sale $3,750,000 -- --
Source: San Diego MLS

Agents Affiliated with this Home

  • Chris Blanco

    Seller's Agent in 2025

    Chris Blanco

    Berkshire Hathaway HomeServices California Properties

    (619) 806-1310

    1 in this area

    41 Total Sales

    Chris Blanco
    Section Image

  • B

    Seller Co-Listing Agent in 2025

    Bill Starling

    Berkshire Hathaway HomeService

    (619) 807-8773

    1 in this area

    9 Total Sales

    Bill Starling
    Section Image

  • E

    Buyer's Agent in 2025

    Ed Bustamante

    South Bay Real Estate

See All Agents

Map

Source: San Diego MLS

MLS Number: 250019118

San Diego MLS
California San Diego County San Diego 92103 Hillcrest

4209 Third Ave, San Diego, CA

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