3362 66 Herman Ave, San Diego, CA 92104

Property Description

Rare 3-Unit Turnkey Investment in the Heart of North Park! Discover an exceptional multi-family opportunity on coveted Herman Ave. These three individual units have been meticulously maintained and offer a perfect blend of immediate cash flow and future upside, featuring $135,000 in recent comprehensive upgrades. Positioned in one of San Diego’s highest-demand rental markets, this property is ideal for 1031 exchange buyers, portfolio builders, or owner-occupants looking to live for free while collecting premium rents. INCOME & POTENTIAL: Unit 1: Rented at $2,450/mo. Unit 2: Rented at $3,200/mo. Unit 3: Currently available—perfect for an owner-occupant or an additional $2,825/mo in projected rent. Total Potential Gross Income: $101,700/year. Cap Rate: 3.2% current / 4.8% pro-forma. UPGRADES & CONDITION: With $135k invested in repairs and modern improvements, this asset is truly "plug-and-play" with zero deferred maintenance. Enjoy peace of mind with updated systems, stylish finishes, and strong tenant history. UNBEATABLE LOCATION: Boasting an incredible walk score, residents are steps away from 30+ craft breweries, award-winning dining, the North Park Theatre, and the weekly Farmers Market. Minutes from Balboa Park and Downtown with easy freeway access. With NorthPark values up 12.2% YOY, this is a blue-chip addition to any real estate portfolio.

Listing Status:

Pending

Date Added:

March 23, 2026

Data Last Updated:

April 2, 2026 at 2:19PM

Listing Office:

Compass : 310-230-5478

Listing Agent:

Lydell Fleming : 760-468-1999

MLS ID:

260006790SD

Interior

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

Exterior

• Parking: Parking spaces: 0

Construction

• Roofing: Composition
• General: 1

Location

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

Lot

• Zoning: RS-1-74535013100

Financial

• Source: CRMLS_SAND