3718 1st Ave San Diego, CA 92103

This charming property in the popular walkable community of Hillcrest consists of three rental units in the front house, two separate cottages in the rear, a laundry room and is zoned RM-3-9. The Hall-Sherman house, built in 1891, is designated as a Historical Landmark, allowing owners to benefit from property tax relief under the Mills Act. This tax benefit is transferred to the new owner upon sale. The Victorian home maintains its original moldings, doorknobs, fireplace surround, and hardwood floors in most areas. A new roof and white picket fence were installed in 2017, and the front and rear façades were repainted in March 2022. Foundation upgrades completed include additional posts, piers, bolting, and cross-bracing. One of the cottages was completely renovated in 2020 with new windows, paint, carpet, heater, and handrail. The 2 bedroom/1 bath downstairs unit will be vacant by the end of May and new rent is expected to be $2,500 by close of escrow. Seller pays water for all 5 units, electricity for 3 units and gas for 1 unit. Buyer could sub-meter the property to have tenants pay utility costs.