312 Brookes Ave, San Diego, CA 92103
Local realty services provided by:ERA Donahoe Realty
Listed by: jean paul schwarz, elisabeth schwarz
Office: the schwarz group858-779-1303
MLS#:260020675SD
Source:CRMLS
Price summary
- Price:$2,295,000
About this home
RE-PRICED TO SELL! Turnkey Hillcrest multifamily investment offering four extensively renovated 1BR/1BA residences in a highly desirable central San Diego location. Fully leased with approximately $143,880 in annual gross scheduled income and approximately $111,690 stabilized NOI. New asking price represents an approximate 4.87% stabilized cap rate. The property has undergone extensive improvements including updated kitchens and bathrooms, flooring, dual-pane windows, electrical and plumbing upgrades, mini-split heating and air conditioning, in-unit laundry, fire sprinkler improvements, secured entry and landscaped common areas. Select residences include private outdoor space and parking. Located near Balboa Park, UC San Diego Health Hillcrest, Scripps Mercy Hospital, Mission Hills, Downtown San Diego, dining, shopping, transit and major transportation corridors. A compelling opportunity to acquire a fully leased, renovated four-unit property with established in-place income and limited near-term capital improvement requirements. Exceptional opportunity to acquire a fully leased, extensively renovated four-unit property in the heart of Hillcrest. Each residence offers one bedroom and one bathroom with an updated kitchen, stainless-steel appliances, modern flooring, newer windows, wall-mounted air conditioning, and in-unit laundry. Additional property improvements include upgraded electrical systems, fire sprinklers, and a newer water main. Select units include gated parking. Offered at $2,295,000, the property currently generates approximately $143,880 in gross scheduled annual income with an estimated stabilized NOI of $111,690, equating to an approximate 4.87% stabilized capitalization rate based on the current asking price and operating assumptions. The property provides immediate income from four existing leases. The seller may consider facilitating a potential vacancy for a buyer who intends to occupy one unit as a primary residence. This may provide an opportunity for a qualified buyer to pursue owner-occupied financing while using eligible rental income from the remaining units to assist with loan qualification. Financing terms, occupancy requirements, and the amount of rental income considered are subject to lender underwriting and approval. No vacancy is guaranteed, and any vacancy must comply with the existing lease, tenant agreement, and applicable law. Conveniently located near major medical and employment centers, restaurants, shopping, public transportation, Balboa Park, and Downtown San Diego. An attractive opportunity for an investor or potential owner-user seeking a stabilized residential income property in one of San Diego’s most desirable rental markets. Offering Memorandum and additional financial information are available upon request. Buyer to verify all property information, permits, square footage, income, expenses, financing options, capitalization rate, and operating assumptions....
Contact an agent
Home facts
- Year built:2010
- Listing ID #:260020675SD
- Added:65 day(s) ago
- Updated:October 28, 2026 at 12:01 PM
Rooms and interior
- Kitchen Description:Electric Water Heater
Heating and cooling
- Cooling:Zoned
- Heating:Combination, Electric
Structure and exterior
- Roof:Composition, Rolled Hot Mop
- Year built:2010
- Levels:2 Story
Finances and disclosures
- Price:$2,295,000
Features and amenities
- Appliances:Electric Water Heater
- Amenities:Electric Water heater, Gas Water Heater
New listings near 312 Brookes Ave
- Coming Soon
$1,670,000Coming Soon4 beds 3 baths1,666 sq. ft.Address Withheld By Seller, San Diego, CA 92109
MLS# 260025788SDListed by: PURE SAN DIEGO - Coming Soon
$549,999Coming Soon2 beds 2 baths1,069 sq. ft.Address Withheld By Seller, San Diego, CA 92101
MLS# 260025770SDListed by: EXP REALTY OF SOUTHERN CA - Coming Soon
$549,999Coming Soon2 beds 2 baths1,069 sq. ft.Address Withheld By Seller, San Diego, CA 92101
MLS# 260025770SDListed by: EXP REALTY OF SOUTHERN CA - Coming SoonOpen Sun, 1 to 3pm
$1,499,999Coming Soon6 beds 4 baths3,025 sq. ft.4661 4663 Redwood Street, San Diego, CA 92105
MLS# ND26225831Listed by: WILLIS ALLEN REAL ESTATE - Coming Soon
$2,180,000Coming Soon4 beds 3 baths2,353 sq. ft.5815 Gablewood Way, San Diego, CA 92130
MLS# NDP2609842Listed by: KELLER WILLIAMS REALTY - Coming Soon
$599,000Coming Soon3 beds 2 baths1,271 sq. ft.Address Withheld By Seller, San Diego, CA 92111
MLS# 260025715SDListed by: REAL BROKER - Coming Soon
$1,099,000Coming Soon2 beds 2 baths1,201 sq. ft.Address Withheld By Seller, San Diego, CA 92101
MLS# 260025684SDListed by: COLLEEN K. COTTER - Coming Soon
$2,199,000Coming Soon5 beds 3 baths2,589 sq. ft.11552 Alborada Drive, San Diego, CA 92127
MLS# NDP2609821Listed by: COLDWELL BANKER REALTY - Coming Soon
$2,099,900Coming Soon3 beds 2 baths1,388 sq. ft.Address Withheld By Seller, San Diego, CA 92109
MLS# 260025646SDListed by: COMPASS CALIFORNIA III, INC. - Coming Soon
$2,099,900Coming Soon3 beds 2 baths1,388 sq. ft.Address Withheld By Seller, San Diego, CA 92109
MLS# 260025646SDListed by: COMPASS CALIFORNIA III, INC.
Protect your home and budget from life's surprises with an Assurant Home Warranty, backed by a partner that supports you through every step of homeownership. Explore Plans.
© 2023 - 2026 ERA Franchise Systems LLC. All rights reserved. ERA Franchise Systems LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. ERA, ERA Real Estate powered, and their respective logos are registered service marks of ERA Franchise Systems LLC. Each office is independently owned and operated.