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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.
| DAYS ON MARKET | 3 | LAST UPDATED | 3/23/2026 |
|---|---|---|---|
| TRACT | North Park | YEAR BUILT | 1928 |
| COMMUNITY | 92104 - North Park | COUNTY | San Diego |
| STATUS | Active | PROPERTY TYPE(S) | Residential Income |
| ADDITIONAL DETAILS | |
| AIR | Wall/Window Unit(s) |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Gas Water Heater |
| AREA | 92104 - North Park |
| HEAT | Natural Gas, None |
| LOT | 0 |
| STORIES | 1 |
| SUBDIVISION | North Park |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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Based on information from California Regional Multiple Listing Service, Inc. as of 3/26/26 1:31 AM PDT 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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