3920-3940 Hortensia St
San Diego, CA 92110

RARE OWNER/USER OFFICE BUILDING WITH SECURED PARKING LOT IN OLD TOWN SAN DIEGO
* This partially leased Spanish style office building offers a new owner/user a very low occupancy cost given the in-place income, depreciation write-off, principal paydown, and building appreciation.

* The in-place tenants are currently on month-to-month leases leaving a buyer the optionality to “right-size” their occupancy needs.

* In 2007, ownership completed an approximate $500,000 remodel that included new HVAC, roof, interior, bathrooms, and lighting that provides a clean modern feel for the building.

* The second floor offers outdoor patios on both sides of the building providing suites with natural light and fresh air.

* The building has 13 parking spaces and a garage which is very rare in the Old Town submarket. Furthermore, the parking lot is gated and secured with wireless remote access.

COMPELLING MARKET FUNDAMENTALS WITH STRONG PROJECTED GROWTH
* As of Q3 2023, the Old Town office vacancy currently sits a very low 5.4% and has a 5-year average of 4.79%. This submarket has historically outperformed the rest of the San Diego office market evident by the county wide office vacancy rate currently sitting at 14.0%
HIGHLY ACCESSIBLE, AMENTITY RICH, GROWTH AREA
* Walking distance to Historic Old Town San Diego which provides access to numerous restaurants, retailers, and entertainment venues. This building is also within walking distance to the Old Town Transit Center.

* The property offers exceptional ingress/egress by providing immediate access to I-5, I-8 and Pacific Coast Hwy.

* This building is in less than 1-mile from the San Diego international Airport.

* Ideally located between downtown and numerous suburban submarkets providing great accessibility to a densely populated area of San Diego.