Yvette Watson - Coldwell Banker Commercial Real Estate Solutions Logo
$7,950,000
( )
 $42,677 est/mo Sourced by Back At You

4015 Richmond,San Diego, CA 92103

San Diego, CA 92103

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Description

The Richmond is a newly constructed 19 unit luxury multifamily property in the heart of Hillcrest, one of San Diego's most desirable and supply constrained rental markets. Completed in 2025, the property features studio, one bedroom and two bedroom residences with modern finishes, in unit laundry, central heating and air conditioning, triple pane windows and private balconies in most units. Offered at $7,950,000, or approximately $418,000 per unit, The Richmond is priced well below nearby development cost benchmarks while generating approximately $545,000 in annual scheduled income and $372,000 in NOI. The property also offers approximately 11% potential rent upside and benefits from exemption from AB 1482 rent caps through at least 2040, providing significant flexibility for future rent growth. The property is steps from shopping, dining and major employment centers, including the expanding UC San Diego Health Hillcrest campus and Scripps Mercy Hospital. Hillcrest is also benefiting from major public investment, including the approximately $28 million Pride Promenade project along Normal Street, further enhancing the neighborhood's walkability and long term appeal. New construction. Below replacement cost. Strong in place income. Rent upside. Favorable regulatory positioning. An irreplaceable Hillcrest location.

Details

MLS #260021771SD
Listing TypeFor Sale
StyleMixeduse
Sub-TypeResale
StatusActive
Days On Site7
Listing Provided ByACI Apartments | Ricardo Lopez

Features

Building(s)1
ZoningR-3:RESTRI
Acreage0.13

Interior

HeatingForced Air
Heating Yes / NoYes
Cooling Yes / NoYes

Area Information

StateCA
CountySan Diego
CitySan Diego
Zip Code92103
Area92103 Mission Hills
Listing VS Median (in 92103)
Price:
$7,950,000
low | high
Med:
$2,037,500
100% of Average
On site:
7
low | high
Med:
166.5
4.204204204204% of Average
Sourced by Back At You

Market Activity 92103

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Learn More About This Property

Yvette Watson

Yvette Watson

Coldwell Banker Home Source

02046244 (909) 489-6340yvette.watson@cbhomesource.com
StateCA
CountySan Diego
CitySan Diego
Zip Code92103
Area92103 Mission Hills
Listing VS Median (in 92103)
Price:
$7,950,000
low | high
Med:
$2,037,500
100% of Average
On site:
7
low | high
Med:
166.5
4.204204204204% of Average
Sourced by Back At You
Nearby Listings (Within 1/4 mile)
Price: $5.962M - $9.937M
sqft: 0 - 0
Nearby Listings Property ImageNearby Listings Details
3937 CENTRE Property Photo 1
$1,750,000
3937 Centre
San Diego, CA 92103
Listing Updated: September 8, 2026 at 6:29:20 PM PDT

Yvette Watson - Coldwell Banker Commercial Real Estate Solutions