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Matt O'Brien

matt@homecrave.com +1(619) 302-3010

$ 4,900,000

Est. payment | -/mo

11 Beds

17 Baths

7,520 SqFt

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$ 4,900,000

Est. payment | -/mo

Save

11 Beds

17 Baths

7,520 SqFt

Key Details

Property Type Multi-Family

Sub Type Com-Res Income

Listing Status Active

Purchase Type For Sale

Square Footage 7,520 sqft

Price per Sqft $651

MLS Listing ID 260021332

Bedrooms 11

Full Baths 17

Property Sub-Type Com-Res Income

Property Description

Pleased to present the 3131-49 & 3151-57 Adams Avenue Portfolio, a 17-unit multifamily and mixed-use portfolio located in San Diego, California. Situated along iconic Adams Avenue in the highly desirable Normal Heights neighborhood, the offering consists of the adjacent 10-unit apartment complex at 3151-57 Adams Avenue and seven-unit mixed-use property at 3131-49 Adams Avenue. Originally built in 1939 and 1965, respectively, both assets were thoughtfully renovated in 2025 and combine for approximately 7,520 rentable square feet across 15,246 square feet of land. Additionally, the portfolio offers significant long-term redevelopment potential, as both properties are located within Complete Communities Tier 3, allowing up to 6.5 FAR, and are zoned CUPD-CU-3-3. The residential component consists of 13 units, including two detached one-bedroom/one-bath cottages, two studios, and nine one-bedroom/one-bath apartments, complemented by four high visibility retail spaces at 3131-49 Adams Avenue. Current retail tenants include a massage studio, pet grooming salon, and bookstore occupying two combined commercial spaces. The residential units were recently remodeled with upgraded interiors including quartz countertops, updated cabinetry, new appliances, and renovated bathrooms, with select units featuring refinished original hardwood or new vinyl plank flooring. Each residential unit also features mini-split A/C systems and tankless water heaters, enhancing tenant comfort and operating efficiency. (7) apartment units have also been amenitized with in-unit, full-size stackable W/D.

Location

State CA

County San Diego

Area Metro Uptown

Interior

Fireplace No

Exterior

View Y/N No

Building

Story 1

Others

Senior Community No

Tax ID 439-412-48,05

Listed by Ben Sierpina, DRE#02062416 Marcus & Millichap

NEARBY SCHOOL & BUSINESS

+1(619) 302-3010

matt@homecrave.com

San Diego, CA 92124

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3131-57 Adams Ave San Diego, CA 92116