Nov 21, 20232 min read

Sold | 3373-3379 1/2 Herman Ave

Updated: Apr 8

5-Unit Trophy Investment Property in North Park

This trophy property is located in a Transit Priority Area in San Diego’s coveted North Park neighborhood. The property consists of 2 structures, 5 updated units, a 2-car garage, 3 off-street parking spaces and is situated on a 6250 sq ft lot with alley access.

3373-3375 is a 1910’s Craftsman duplex with a 1262 sq ft 2+ bed, 2 bath unit featuring a welcoming, wide porch, laundry room, engineered wood floors, kitchen with granite counters and stainless steel appliances, 2 remodeled bathrooms, shared laundry porch, newer water heater and HVAC system. Upstairs is an enchanting 1 bed, 1 bath 760 sq ft unit with office, original wood floors, and updated kitchen and bathroom. Additional system improvements to this structure: sewer line, copper wiring, roof replaced, post and pier foundation rebuilt, and updates made to the foundation stem walls where needed.

3373-3375 Craftsman Duplex (front house)

Unit 1: 2 Bed + Optional Rm | 2 Bath

Unit 2: 1 Bed + 1 Bath

Shared laundry

3377-3379 ½ is a 1950’s 3-unit apartment with 2 car garage and community laundry. The updated units include two 2 bed, 1 bath 694 sq ft, and one 1 bedroom, 1 bath 502 sq ft. Each has a mini-split, newer floors, refreshed kitchens and updated bathrooms. Two outdoor community space offer residents fruit trees, raised vegetable gardens, and 2 lounging areas.

3377-3379 ½ Back Building with Alley Access

Unit 3: 2 Bed + 1 Bath

Unit 4: 2 Bed + 1 Bath

Unit 5: 1 Bed + 1 Bath

Garage: 2 car + Storage + Laundry

Gross rents once stabilized would generate upwards of $15,000 with long-term leases and more with a combination of short, mid, and long term. Potential increased revenue and development opportunities include: garage conversion to ADU or collecting rent on garages and laundry use, making this an attractive investment opportunity.

The property has a 91 walkscore and is located within a ¼ mile of transit. North Park is known for its vibrant and diverse community, offering a thriving arts and culture scene, an array of trendy restaurants and bars, and easy access to parks and recreational areas. The neighborhood's central location near all major freeways, Coronado, downtown San Diego, Balboa Park and beaches and make it a highly sought-after area for both residents and real estate investors alike.