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Listed by Joe Gold • Coldwell Banker Realty
$ 1,095,000
Est. payment /mo
Active
641 Morrison Street San Diego, CA 92102
2,006 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,006 sqft
Price per Sqft $545
MLS Listing ID 8N-2507400
Year Built 1946
Lot Size 6,098 Sqft
Property Sub-Type Triplex
Property Description
Income-producing triplex in Mount Hope offers strong rental performance and flexible tenant arrangements ideal for investors seeking both immediate cash flow and long-term appreciation. Tis fully occupied property features a 3-bed/1-bath, a 2-bed/1-bath, and a fully permitted studio ADU. Current yielding a CAP rate of 5.6% based on the asking price with opportunity for growth. This solid return is further supported by the property's central location, just minutes from freeways, downtown, and Balboa Park, adding tenant appeal and long-term growth potential. Off-street parking for six vehicles enhances resident convenience, while the lot's R-2 zoning and configuration support varied use strategies. Whether you're a seasoned investor or an owner-occupant looking to offset living costs, it combines stability, upside, and location in one package. **Fully permitted ADU was built in 2024. All units have new water heaters.
Location
State CA
County San Diego
Area 92102 - San Diego
Zoning R-2:MINOR MULTIPLE
Interior
Laundry See Remarks
Exterior
Parking Features Gated
Pool None
Community Features Sidewalks, Storm Drains
View Y/N No
Building
Lot Description Rectangular Lot
Others
Virtual Tour https://www.propertypanorama.com/instaview/crmls/NDP2507400