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… Read More 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. Read Less
Courtesy of eXp Realty of California, Inc., 888-584-9427, Ron Rooney.
Listing Snapshot
Days Online
52
Last Updated
Property Type
Res Income 2-4 Units
Beds
3
Full Baths
3
Partial Baths
1
Lot Size
0.11 Acres
Year Built
1949
MLS Number
260013283
30 Days Snapshot Of 92102
$1.07M
0%
(avg) sold price
0
-100%
homes sold
24
0%
(avg) days on market
Snapshot
Area Map
Additional Details
Property Access
N/K
Building
Built in 1949, Building area total: 1937, 3 number of buildings, 1 story total, Living area: 0, Living area units: Sqft, Building area units: Sqft, Building name: NA, 3 total units, Wood/Stucco, 1 Story
Cooling
Heat Pump(s)
Expenses
Operating expense: $1
Fence
Partial
Water Features
Water source: Meter on Property
Heating
Wall/Gravity
Income
Gross scheduled income: $102,820
Lot
4,965 size sqft, Size units: Acres
Pets Policy
Yes
Property
Property subtype: Res Income 2-4 Units, Property type: Residential Income, Other/Remarks
Roof
Other/Remarks
Security Features
N/K
Tenant Pays
Other/Remarks
Utilities
Sewer Connected
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