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About the Listing SAND-993674 - SAND-680533
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.
Listing Highlights for 215 Spruce St
Interior Details
- Bedrooms: 3
- Bathrooms: 4 Full
- Appliances: Gas Water Heater
- Air Cond: Wall/Window Unit(s)
- Heating: Combination,Electric
- Fireplaces:
- Floor:
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 0
- Roof: Composition
- Others: 2+ Total Units
- Sewer:
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 4526260200
- Tax Year: N/A
Payment Calculator
Monthly Payment
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- in Taxes
Listing Location
Questions About..
215 Spruce St San Diego, CA 92103
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