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$2,695,000
Est. payment /mo
6,263 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 250030858SD
HOA Y/N No
Lot Size 6,263 Sqft
Property Sub-Type Mixed Use
Property Description
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 come. This trophy property consists of a detached 3BD/2BA single-family Craftsman home, a newly built 4-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 on 3716, 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.
Location
State CA
County San Diego
Area 92104 - North Park
Zoning R-3:RESTRI
Interior
Heating See Remarks, Wall Furnace
Cooling Wall/Window Unit(s)
Fireplace No
Exterior
Roof Type Composition
Total Parking Spaces 6
Others
Tax ID 4531710800
Acceptable Financing Cash, Cash to New Loan, Submit
Listing Terms Cash, Cash to New Loan, Submit
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Listed by Tami McCraw • Urban Dwellings