2949-2957 Kalmia Street presents a rare opportunity to acquire a renovated Spanish-style bungalow court located in the highly sought-after North Park submarket of San Diego. The property consists of eight residential units featuring a desirable unit mix, including one three-bedroom unit, two two-bedroom/two-bath units, and four two-bedroom/one-bath units, along with two newly constructed accessory dwelling units (ADUs) equipped with solar systems. The asset blends classic architectural charm with modern upgrades, including recently remodeled interiors, upgraded electrical and plumbing systems, private yard spaces, and in-unit laundry. The property also includes three on-site storage units, generating additional income, and three parking spaces, currently included in rent, with potential for future revenue optimization. Current operations reflect stabilized performance with additional upside through continued rent optimization and ancillary income strategies. Utilities are primarily tenant-paid, and the newly constructed ADU units feature solar power, helping reduce operational exposure. Strategically positioned within walking distance to Balboa Park, retail, dining, and major transit corridors, the property benefits from strong tenant demand and premium rental positioning in one of San Diego’s most desirable rental markets.