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3765 Herman Avenue 3765 Herman Ave 2 Unit Apartment Building $1,450,000 ($725,000/Unit) 3.26% Cap Rate San Diego, CA 92104
Investment Highlights
- Walker's Paradise
- RM-3-8 Zoning
- Mobility Zone 2
- New: Electric, Roof, Waste line, Foundation, HVAC
- Complete Communities Tier 3 (FAR 6.5)
Executive Summary
Re-listed with front house to be delivered Vacant. This turnkey duplex in the heart of North Park offers a rare combination of historic Craftsman charm and extensive modern infrastructure. Situated on a 6,266 SF lot, this property features two distinct residences, making it an ideal opportunity for an owner-occupant seeking rental income or a savvy investor looking for a high-performing asset in San Diego’s most sought-after urban neighborhood. The property has undergone numerous improvements including but not limited to: roof, interior upgrades, plumbing, electrical overhauls, waste line overhaul, foundation improvements, HVAC add-on.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$79,512
|
$37.90
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$3,976
|
$1.90
|
| Effective Gross Income |
$75,536
|
$36.00
|
| Taxes |
$18,142
|
$8.65
|
| Operating Expenses |
$10,175
|
$4.85
|
| Total Expenses |
$28,317
|
$13.50
|
| Net Operating Income |
$47,219
|
$22.51
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $79,512 |
| Annual Per SF | $37.90 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $3,976 |
| Annual Per SF | $1.90 |
| Effective Gross Income | |
|---|---|
| Annual | $75,536 |
| Annual Per SF | $36.00 |
| Taxes | |
|---|---|
| Annual | $18,142 |
| Annual Per SF | $8.65 |
| Operating Expenses | |
|---|---|
| Annual | $10,175 |
| Annual Per SF | $4.85 |
| Total Expenses | |
|---|---|
| Annual | $28,317 |
| Annual Per SF | $13.50 |
| Net Operating Income | |
|---|---|
| Annual | $47,219 |
| Annual Per SF | $22.51 |
Property Facts
| Price | $1,450,000 | Apartment Style | Low-Rise |
| Price Per Unit | $725,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 3.26% | Building Size | 2,098 SF |
| Gross Rent Multiplier | 18.24 | Average Occupancy | 100% |
| No. Units | 2 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1917/2022 |
| Property Subtype | Apartment | Parking Ratio | 2.86/1,000 SF |
| Zoning | RM3-8 - 6266sf lot: RM 3-8: 1 Dwelling per 800sf CC Tier 3: 6.5 FAR (max 40,000sf building size) Mobility Zone 2 | ||
| Price | $1,450,000 |
| Price Per Unit | $725,000 |
| Sale Type | Investment |
| Cap Rate | 3.26% |
| Gross Rent Multiplier | 18.24 |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 2,098 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1917/2022 |
| Parking Ratio | 2.86/1,000 SF |
| Zoning | RM3-8 - 6266sf lot: RM 3-8: 1 Dwelling per 800sf CC Tier 3: 6.5 FAR (max 40,000sf building size) Mobility Zone 2 |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Fireplace
- Microwave
- Storage Space
- Washer/Dryer
- Heating
- Ceiling Fans
- Kitchen
- Granite Countertops
- Hardwood Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Walk-In Closets
- Family Room
- Framed Mirrors
- Island Kitchen
- Lawn
- Linen Closet
- Mud Room
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 1 | $4,000 | 1,205 |
| 2+1 | 1 | $2,739 | 900 |
1 1
Exceptionally walkable
90/100
Moderately drivable
70/100
Some public transit
50/100
Moderately bikeable
60/100
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3765 Herman Avenue | 3765 Herman Ave
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