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$2,595,000
Est. payment /mo
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
MLS Listing ID 250044737SD
HOA Y/N No
Year Built 1912
Property Description
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 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.
Location
State CA
County San Diego
Area 92104 - North Park
Building/Complex Name complex
Interior
Heating Electric
Cooling Wall/Window Unit(s)
Fireplace No
Appliance Gas Water Heater
Exterior
Community Features Gated
View Y/N Yes
View Golf Course
Roof Type Composition
Building
Story 2
Entry Level Two
Level or Stories Two
Others
Senior Community No
Tax ID 5391511400
Security Features Gated Community
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Listed by Conor Brennan Marcus & Millichap
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