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… Read More 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. Read Less
Property listed by Compass, Lydell Fleming 310-259-7556
Listing Snapshot
Days Online
1
Last Updated
Year Built
1928
MLS Number
260006790SD
Additional Details
Appliances & Equipment
GasWaterHeater
Building
Built in 1928, 4 buildings, 1 storey, Levels: One
Community
Park Name: None
Cooling
WallWindowUnits
Disclosures
Incorporated
Heating
NaturalGas, None
Home Owner's Association
Association Fee: $0
Income
Gross ScheduledIncome: $101,700, Net Operating Income: $51,200
Roof
Composition
Taxes
Parcel Number: 4535013100, Zoning: RS-1-7
Tenant Pays
CableTv, Electricity, Gas
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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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