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About the Listing SAND-7158 - SAND-710938
Rare 3-Unit Turnkey Investment in the Heart of North Park! Discover an exceptional multi-family opportunity on coveted Herman Ave. These three individual units have been meticulously maintained and offer a perfect blend of immediate cash flow and future upside, featuring $135,000 in recent comprehensive upgrades. Positioned in one of San Diego’s highest-demand rental markets, this property is ideal for 1031 exchange buyers, portfolio builders, or owner-occupants looking to live for free while collecting premium rents. INCOME & POTENTIAL: Unit 1: Rented at $2,450/mo. Unit 2: Rented at $3,200/mo. Unit 3: Currently available—perfect for an owner-occupant or an additional $2,825/mo in projected rent. Total Potential Gross Income: $101,700/year. Cap Rate: 3.2% current / 4.8% pro-forma. UPGRADES & CONDITION: With $135k invested in repairs and modern improvements, this asset is truly "plug-and-play" with zero deferred maintenance. Enjoy peace of mind with updated systems, stylish finishes, and strong tenant history. UNBEATABLE LOCATION: Boasting an incredible walk score, residents are steps away from 30+ craft breweries, award-winning dining, the North Park Theatre, and the weekly Farmers Market. Minutes from Balboa Park and Downtown with easy freeway access. With NorthPark values up 12.2% YOY, this is a blue-chip addition to any real estate portfolio.
Listing Highlights
Status
Pending
Days on Site
11
Property Type
Multi-Family
MLS ®
260006790SD
Year Built
1928
Total Square Footage
0
Lot/Acreage
N/A
Interior Details
- Bedrooms: 4
- Bathrooms: 4 Full
- Appliances: Gas Water Heater
- Air Cond: Wall/Window Unit(s)
- Heating: Natural Gas
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 0
- Zoning: RS-1-7
- Roof: Composition
- Others: 2+ Total Units
- Sewer:
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 4535013100
- Tax Year: N/A
Payment Calculator
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Questions About..
3362 Herman Ave San Diego, CA 92104
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