Active

237 Spruce Street

Mission Hills CA, 92103

$4,550,000


$521.55 per sqft

Active

8,724 sqft

Commercial

We are pleased to present The Catalina located at 237 Spruce Street in San Diego, California. The 14-unit apartment complex is located in the highly desirable neighborhood of Bankers Hill and boasts a Walk Score of 85. Originally built in 1913 and renovated in 2005, the property sits on a 5,171 square foot lot and the building measures approximately 8,724 square feet. The unit mix consists of (1) two bedroom / one bathroom unit, (12) junior one bedroom / one bathroom units, and a non-conforming commercial space. All junior one bedroom units have pocket doors separating the bedroom area from the living room. The property has been meticulously well-maintained with various capital improvements completed by current ownership. The exterior of the property has been updated with dual pane vinyl windows, fresh paint, and a fully rebuilt fire escape on the north side of the building. Both the electrical system and drain lines have been upgraded, as well as a newly upgraded sewer line with an epoxy liner. Attractive tenant offerings include secure gated entry, on-site laundry, and a third floor rooftop deck with expansive views of the San Diego Bay. Electricity is separately metered reducing operating costs to the owner. Through a more extensive interior renovation, an investor could bring current rents to market and maximize overall cash flow. Located only two blocks from Fifth Avenue and three blocks from Balboa Park (which also hosts the San Diego Zoo), the property is centrally located to all the best both Bankers Hill and Hillcrest have to offer.

240003008

MLS ID

February 9, 2024

Listed

October 2, 2024

Updated

Map

237 Spruce Street
Mission Hills CA, 92103

Interior Features

Total Stories

3


Floor Description

Hardwood


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Roof

Composition

Other Property Details

Area Name

Metro Uptown


Days on Market

167


Garage

No


Parking

None


View

No


County

San Diego


Pool

No

Listing History

Date

Event

Price

6/11/2024

Price change

$4,550,000

-7%

Listed by Marcus & Millichap, Ben Sierpina,
Listing Contact: 858-373-3215 

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Data last updated 4:21 AM UTC, 10/2/2024

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