233-239 Hawthorn Street, San Diego, CA 92101
Price
$4,000,000
Price Per Unit
$444,444
Price Per Square Foot
$532.20
CAP Rate
4.81%
Number of Units
9 Units
Building Square Feet
7,516 SF
Lot Size
0.11 Acres
Year Renovated
1912/2018
APN
533-174-10-00 533-174-11-00
233-39 Hawthorn Street is a standout multifamily investment opportunity located in the heart of Bankers Hill, one of San Diego’s most desirable urban neighborhoods. Priced at $4,000,000, this well-maintained 9-unit property offers a compelling blend of historic charm and modern upgrades. Originally constructed in 1912 and extensively renovated in 2018, the property offers tenants the character of early 20th-century architecture with the comfort and efficiency of contemporary living.
With a total building size of 7,516 square feet situated on a compact 0.11-acre lot, the property boasts an efficient use of space and a solid income profile. The price per unit is approximately $444,444, and the price per square foot comes in at $532.20—metrics that reflect the premium nature of this location. Generating a Net Operating Income (NOI) of $192,560 and a CAP rate of 4.81%, the investment offers stable cash flow with long-term appreciation potential, especially given the property’s proximity to downtown, Balboa Park, and the San Diego International Airport.
The property is associated with two APNs (533-174-10-00 and 533-174-11-00), offering flexibility for future repositioning or potential parcel adjustments. With its blend of historic San Diego charm, strong income metrics, and prime Bankers Hill location, 233-39 Hawthorn Street presents an exceptional opportunity for investors seeking long-term growth in a supply-constrained, high-demand rental market.
Listed By:
Aaron Bove
Senior Managing Director, Investments
aaron.bove@marcusmillichap.com
(858) 945-7094