2919 Ivy Street, San Diego, CA 92104

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.

Listing Status:

Active

Date Added:

November 26, 2025 at 06:00AM

Listing Office:

Marcus & Millichap : 818-212-2250

Listing Agent:

Conor Brennan : 720-841-8139

MLS ID:

250044737SD

Interior

• Appliances: Gas Water Heater
• A/C: Wall/Window Unit(s)
• Heating: Electric

Exterior

• Parking: Parking spaces: 0

Construction

• Roofing: Composition
• General: 2

Location

• HOA Amenities: 0.0
• Originating MLS: CRMLS_SAND
• County: San Diego

Lot

• Zoning: 5391511400
• View: Golf CourseView

Financial

• Source: CRMLS_SAND

This listing courtesy of Conor Brennan, Marcus & Millichap