3716-18 Herman Ave is a turn-key 5-unit multifamily asset located in the high-demand neighborhood of North Park. Currently generating $16,250 per month in gross rents this fully stabilized investment offers zero deferred maintenance and minimal monthly maintenance, appealing to the busy investor seeking a modern, well-performing asset for years to… Read More come. This trophy property consists of a detached 3BD/2BA single-family Craftsman home, a newly built 2-story 2-plex (2024) consisting of (2) 2BD/2BA units and (2) 1BR/1BA units (one is an ADU). All units are immaculate featuring modern finishes and conveniences. Tenants enjoy open-concept floor plans, in-unit laundry, stainless steel appliances, air conditioning (mini splits and central HVAC), LVP flooring, gated entry, and assigned parking. Landlords will enjoy tankless water heaters, individual SDGE meters, one water meter that is submetered, owned solar, and low-maintenance landscaping. The main home consists of 3 BR's and 2 BA's with a freshly painted interior and exterior. The prior owner did an extensive renovation in 2020 which included a new foundation system, new roof, and interior remodel. Features include box ceilings in the living & dining room, open-concept living, renovated bathrooms, a private side yard, in-unit laundry, HVAC, and a driveway for off-street parking. 3 one car garages & 2 parking spaces are an added value for tenants seeking off-street parking. With a Walk score of 96, Herman Ave is a location that consistently drives tenant demand. With 4 out of the 5 units just less than a year old, and the Craftsman home having been extensively remodeled in 2020, 3716-18 Herman Ave is truly an attractive and unique investment. Located just two blocks from University Ave, residents can enjoy diverse culinary offerings like Encontro, The Smoking Goat, Alexander’s, and Tribute Pizza (to name just a few), along with entertainment venues, local weekly farmer’s market, street festivals, yoga studios, craft beer, coffee and so much more. Its proximity to Balboa Park and freeways coupled with the thriving culinary, arts, and cultural businesses of North Park make this an excellent investment for those seeking high rental demand and long-term growth in one of San Diego’s most sought-after neighborhoods. Hurry, don’t let this amazing opportunity slip away. Read Less
Property listed by Urban Dwellings, Tami McCraw 619-543-9500
Listing Snapshot
Days Online
18
Last Updated
Property Type
Mixed Use
Lot Size
0.14 Acres
MLS Number
250030858SD
30 Days Snapshot Of 92104
$975k
+8%
(avg) sold price
19
-13%
homes sold
45
-8%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
2 buildings
Cooling
WallWindowUnits
Expenses
Operating expense: $27,041
Heating
SeeRemarks, WallFurnace
Income
Net operating income: $167,959
Lot
0.1438 acres, 6,265 square feet, Size: 6,265
Parking
6 totals parking
Property
Zoning: R-3:RESTRI
Roof
Composition
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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