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215 Spruce Street presents a rare opportunity to acquire a well-maintained four-unit apartment property in the highly desirable Hillcrest neighborhood of San Diego. The property features an attractive unit mix of three 1-bedroom/1-bath residences of approximately 480 square feet and one studio of approximately 400 square feet. The building retains much of its original character, including hardwood flooring, custom built-ins, original cabinetry and woodwork, while select areas feature updated vinyl plank flooring and a mix of newer appliances. Unit A is further distinguished by a fireplace and newly installed floor heater, while the remaining residences are equipped with wall heaters. Each unit benefits from its own individual water heater, and residents have access to a rear courtyard, common-area deck and tenant storage. A single-car garage, currently utilized for owner storage, provides additional utility and potential future flexibility. The property has been self-managed by the same ownership for approximately 29 years and reflects a history of attentive ownership and long-term tenant retention, with residents having occupied the property for as long as 20 years. Importantly, three of the four units have not received rent increases in years, creating a compelling opportunity for a new investor to capture meaningful rental upside over time while implementing a targeted capital improvement program. Original kitchens, cabinetry, appliances and interior finishes provide a clear pathway for strategic modernization and enhanced rental positioning. Combining a highly sought-after central San Diego location, historically stable occupancy, distinctive vintage character and significant embedded income growth potential, 215 Spruce Street offers investors an increasingly rare opportunity to acquire a manageable multifamily asset in one of San Diego's most established rental submarkets.
Property Type(s):
Residential Income
| Last Updated | 10/5/2026 | Tract | Hillcrest |
|---|---|---|---|
| Year Built | 1920 | Community | 92103 - Mission Hills |
| County | San Diego |
Additional Details
| AIR | Wall/Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Gas Water Heater |
| AREA | 92103 - Mission Hills |
| HEAT | Electric |
| LOT | 2091 sq ft |
| LOT DIMENSIONS | 2091 |
| STORIES | 2 |
| SUBDIVISION | Hillcrest |
| VIEW | Yes |
Location
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Listed with Conor Brennan, Broker
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
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