CBRE is pleased to present 3941-45 32nd St, a prime opportunity to acquire a well-maintained triplex in the sought-after North Park neighborhood of San Diego. The property, renovated in 2019, offers 1,928 rentable square feet on a 6,969-square-foot lot, making it an attractive value-add opportunity for investors looking to enhance below market in
place rents. The unit mix consists of a 2-bedroom, 1-bath house at the front and two 1-bedroom, 1-bath units at the back. The property also includes ample off-street parking accessed via the alley and three single-car garages, which offer the potential for ADU conversion to increase income. In-place rents are significantly below market, providing a clear opportunity to increase returns without the need for substantial renovation. Located just one block from University Ave, the property is in a highly walkable area with a Walk Score of 93, classified as a “Walker’s Paradise,” offering tenants easy access to the local amenities, restaurants, and services that define North Park.
With the potential for rent growth and additional income from ADU conversions, 3941 32nd St presents a solid investment opportunity in one of San Diego’s most dynamic neighborhoods.