CBRE is pleased to present 2919 Ivy Street, a rare opportunity to acquire a 4-unit multifamily property located in the heart of the highly coveted South Park (NSD) neighborhood. Positioned on a quiet residential street overlooking Balboa Park, this boutique asset—known as The Heron on Ivy—off ers a compelling combination… Read More of modern fi nishes, immediate cash fl ow and long-term value stability in one of San Diego’s most supply-constrained rental markets. The property is comprised of four fully furnished studio apartments, each approximately 450 square feet and generating an eff ective gross income of $17,587 per month, or $211,054 the trailing 12 months. Each unit has been thoughtfully designed and recently remodeled to refl ect a sophisticated urban aesthetic, featuring open layouts, abundant natural light, and high-quality fi nishes. The units are separately metered and include utilities and high-speed internet, providing a turnkey operation with minimal management burden. Notably, the location delivers outstanding walkability: the address achieves a Walk Score® of 88 out of 100 (Very Walkable) - meaning tenants can accomplish most errands on foot. The property is steps from the neighborhood’s favored dining, coff ee and wine-bar destinations including Café Madeleine, The Rose and Station Tavern, enhancing tenant retention and rental attractiveness. This offering presents investors with a rare chance to own a stabilized, designforward asset in a high-barrier-to-entry neighborhood. Read Less
Listing Snapshot
Days Online
0
Last Updated
Lot Size
0.05 Acres
Year Built
1912
MLS Number
250044737SD
Additional Details
Appliances & Equipment
GasWaterHeater
Building
Built in 1912, 1 building, 2 stories, Levels: Two
Community
Park Name: complex, Gated
Cooling
WallWindowUnits
Heating
Electric
Home Owner's Association
Association Fee: $0
Income
Gross ScheduledIncome: $210,156, Net Operating Income: $120,549
Lot
0.0486 acres
Property
GolfCourse
Roof
Composition
Security Features
GatedCommunity
Taxes
Parcel Number: 5391511400
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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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