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$ 3,595,000
Est. payment /mo
New
1505 Fern Street San Diego, CA 92102
6 Beds
9 Baths
4,100 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Com-Res Income
Listing Status Active
Purchase Type For Sale
Square Footage 4,100 sqft
Price per Sqft $876
MLS Listing ID 260016488
Bedrooms 6
Full Baths 7
Half Baths 2
Lot Size 4,721 Sqft
Property Sub-Type Com-Res Income
Property Description
We are pleased to present 1505 Fern Street, 1505½ Fern Street, 3034 Beech Street, 3036 Beech Street, and 3038 Beech Street—a rare opportunity to acquire a fully furnished, income-producing residential compound in the heart of San Diego's highly desirable South Park neighborhood. Combining a restored historic residence, newly constructed ADUs completed in 2024, a transferable Mills Act designation, and a proven furnished rental platform, Fern Street offers a differentiated investment opportunity beyond traditional multifamily ownership. The property consists of five thoughtfully designed residences, including one threebedroom / 2.5-bath unit, one two-bedroom / 2.5-bath unit, two one-bedroom / one-bath units, and one studio / one-bath unit. Three permitted ADUs were completed in 2024, including two newly constructed rear units and a newly created studio residence. All units are delivered fully furnished and currently support a successful blend of vacation rentals and furnished mid-term stays. Rather than relying on a conventional apartment leasing model, Fern Street benefits from a flexible furnished rental strategy supported by strong historical operating performance. The property generated trailing twelve-month revenue of $296,225 and NOI of $193,651, while 2025 operations produced revenue of $285,558 and NOI of $191,431. This established operating history demonstrates the property's ability to generate durable cash flow while preserving future ownership flexibility. Constructed 1912, the front residence has been extensively restored while preserving its historical charm.
Location
State CA
County San Diego
Community Bbq
Area Metro Central
Interior
Heating Wall
Cooling Wall/Window
Flooring Hardwood, Vinyl
Fireplace No
Laundry Owned
Exterior
Parking Features None
View Y/N No
Roof Type Composition
Building
Story 2
Others
Senior Community No
Tax ID 539-364-04-00
Listed by Conor M Brennan, DRE#01918598 Conor Brennan, Broker