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$2,595,000
Est. payment /mo
4 Baths
2,116 Sqft Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Active
Purchase Type For Sale
Subdivision South Park (304)
MLS Listing ID 250044737
Full Baths 4
Year Built 1912
Lot Size 2,116 Sqft
Property Sub-Type Res Income 2-4 Units
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
Community Bbq, Gated Community
Area Metro Uptown
Interior
Heating Wall/Gravity
Cooling Wall/Window
Fireplace No
Exterior
Fence Gate
View Y/N Yes
Water Access Desc Meter on Property
View Golf Course
Roof Type Composition
Building
Story 2
Water Meter on Property
Level or Stories 2
Others
Senior Community No
Tax ID 539-151-14-00
Acceptable Financing Assumable
Listing Terms Assumable
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Listed by Conor M Brennan Marcus & Millichap
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