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Tracy Baker

tracy@tracybbaker.com +1(619) 507-4230

$ 1,795,000

Est. payment | -/mo

3 Beds

3 Baths

4,965 Sqft Lot

Save

$ 1,795,000

Est. payment | -/mo

Save

3 Beds

3 Baths

4,965 Sqft Lot

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

Subdivision South Park (304)

MLS Listing ID 260013283

Bedrooms 3

Full Baths 3

Half Baths 1

Year Built 1949

Lot Size 4,965 Sqft

Property Sub-Type Res Income 2-4 Units

Property Description

Exceptional South Park Triplex with Income Upside and Development Potential. Rare opportunity to acquire a beautifully maintained three-unit income property in one of San Diego's most desirable urban neighborhoods. Located in the heart of South Park, just blocks from Balboa Park, this unique property offers a compelling combination of current cash flow, future rental upside, development potential, and the charm that makes South Park one of San Diego's most sought-after communities. The property consists of three well-maintained 1-bedroom residential units in a tranquil garden-like setting. Mature landscaping, abundant greenery, and private outdoor living spaces create an environment that feels more like a collection of individual homes than a traditional income property. Each residence enjoys its own private patio area, providing tenants with valuable outdoor space and enhanced privacy.The units have been meticulously maintained, each with in-unit washer/dryers, dishwashers, tankless hot water heaters, and separately metered utilities paid directly by the tenants (owner currently pays water service only). The property currently generates approximately $103,000 in annual gross rental income, with estimated market rents supporting potential gross income of approximately $112,000 annually, offering investors potential upside opportunities. Notably adding to the property's appeal is a 400 sf detached two-car garage with ADU potential (currently not included for tenants' use) with City-approved architectural plans for future use as an office/workspace.

Location

State CA

County San Diego

Area Metro Central

Direction Dale St. to Grape.

Interior

Heating Wall/Gravity

Cooling Heat Pump(s)

Fireplace No

Exterior

Fence Partial

Utilities Available Sewer Connected

View Y/N Yes

Water Access Desc Meter on Property

View Other/Remarks

Roof Type Other/Remarks

Building

Story 1

Water Meter on Property

Level or Stories 1

Others

Senior Community No

Tax ID 539-221-16-00

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Listed by Ron Rooney, DRE#01489978 eXp Realty of California, Inc.

NEARBY SCHOOL & BUSINESS

+1(619) 507-4230

tracy@tracybbaker.com

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1936 Dale San Diego, CA 92102