237 Spruce St

San Diego, CA 92103

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 bed / one bath units, and a newly constructed studio. All junior one bedroom units have pocket doors separating the bedroom area from the living room and are significantly larger than typical units from this vintage. 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 can 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.

This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. The display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.