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112-20 E Redwood St 3 Unit Apartment Building $2,799,900 ($933,300/Unit) San Diego, CA 92103
Investment Highlights
- Rare 3-unit Banker's Hill investment, on the market for the first time in 22 years
Executive Summary
Rare 3-unit Banker's Hill investment, on the market for the first time in 22 years: engineered for the live-in investor who wants two rental incomes assisting with any mortgage payment while occupying a designer-finished home. Also ideal for multi-generational families seeking separate yet connected living spaces under one roof. Top-floor #120 (2BR/2BA, 909sf) carries $280K in PIRCH-sourced improvements: full marble-walled gas fireplace, Liebherr/Bosch chef's kitchen with wine cooler and skylight, spa-caliber primary bath, and a private yard. Lower #112 (2BR/2BA, 1,243sf) and upper-corner #116 (2BR/1BA, 1,216sf) each add two flexible bonus rooms, renovated kitchens, Carrara marble baths, restored hardwoods, wood shutters, AC, and bay/sunset views. Current rents $3,850/mo each on month-to-month leases; projected market gross $17,000/mo. Three single garages currently bundled with the units and available to unbundle for added income. Strong Airbnb upside: live in one, rent the other two short-term. Lush landscaping on a 5,236 sf lot, steps to Balboa Park, Little Italy dining, and the bay.
Banker’s Hill is one of San Diego’s most sought-after uptown neighborhoods, perched on the bluff between Balboa Park and the bay withHillcrest just to the north and Little Italy steps to the south. The 112 to 120 Redwood Street homes sit on the quieter, west-facing side of thisaffluent enclave, where tree-lined streets, historic Craftsman and Victorian architecture, and modern luxury builds combine to create awalkable lifestyle that’s hard to replicate anywhere else in the city. Owners here trade the typical suburban routine for morning walks throughBalboa Park’s 1,200 acres of museums, gardens, and trails, evenings at neighborhood staples like Cucina Urbana and Mister A’s, andweekend strolls across the historic Spruce Street Suspension Bridge or down the hill to Little Italy’s Saturday farmers market. With sweepingviews toward the bay, Coronado, and the Downtown skyline, immediate access to the I-5 and the 163, and a quick drive to the airport,Gaslamp, and the Coronado Bridge, Redwood Street delivers the rare combination buyers chase in central San Diego: a quiet residentialstreet, an elevated city perspective, and a neighborhood that genuinely upgrades daily life. Vimeo walk through tours - https://vimeo.com/1190820535 for unit 120 and https://vimeo.com/1191969407 for units 112 & 116.
Banker’s Hill is one of San Diego’s most sought-after uptown neighborhoods, perched on the bluff between Balboa Park and the bay withHillcrest just to the north and Little Italy steps to the south. The 112 to 120 Redwood Street homes sit on the quieter, west-facing side of thisaffluent enclave, where tree-lined streets, historic Craftsman and Victorian architecture, and modern luxury builds combine to create awalkable lifestyle that’s hard to replicate anywhere else in the city. Owners here trade the typical suburban routine for morning walks throughBalboa Park’s 1,200 acres of museums, gardens, and trails, evenings at neighborhood staples like Cucina Urbana and Mister A’s, andweekend strolls across the historic Spruce Street Suspension Bridge or down the hill to Little Italy’s Saturday farmers market. With sweepingviews toward the bay, Coronado, and the Downtown skyline, immediate access to the I-5 and the 163, and a quick drive to the airport,Gaslamp, and the Coronado Bridge, Redwood Street delivers the rare combination buyers chase in central San Diego: a quiet residentialstreet, an elevated city perspective, and a neighborhood that genuinely upgrades daily life. Vimeo walk through tours - https://vimeo.com/1190820535 for unit 120 and https://vimeo.com/1191969407 for units 112 & 116.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$87,780
|
$27.53
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $87,780 |
| Annual Per SF | $27.53 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $2,799,900 | Building Class | B |
| Price Per Unit | $933,300 | Lot Size | 0.12 AC |
| Sale Type | Investment | Building Size | 3,188 SF |
| No. Units | 3 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1936 |
| Apartment Style | Low-Rise | Parking Ratio | 0.94/1,000 SF |
| Zoning | Multi Family Dwellings - Multi Family Dwellings Generic Any Combination 2+ | ||
| Price | $2,799,900 |
| Price Per Unit | $933,300 |
| Sale Type | Investment |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.12 AC |
| Building Size | 3,188 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1936 |
| Parking Ratio | 0.94/1,000 SF |
| Zoning | Multi Family Dwellings - Multi Family Dwellings Generic Any Combination 2+ |
Amenities
Unit Amenities
- Dishwasher
- Disposal
- Fireplace
- Microwave
- Washer/Dryer
- Ceiling Fans
- Crown Molding
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Views
- Yard
- Dining Room
- Porch
- Window Coverings
- Large Bedrooms
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 6+5 | 3 | - | - |
1 1
Very walkable
80/100
Moderately drivable
70/100
Some public transit
50/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 452-612-05 | Improvements Assessment | $1,020,000 |
| Land Assessment | $680,000 | Total Assessment | $1,700,000 |
Property Taxes
Parcel Number
452-612-05
Land Assessment
$680,000
Improvements Assessment
$1,020,000
Total Assessment
$1,700,000
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112-20 E Redwood St
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