2732 38 Fairmount Avenue
San Diego, CA 92105
- 6 beds
- 3 baths
- 2,212 sqft
- 5,045 sqft lot
- $452 per sqft
- 1958 build
- – on site
Savvy investors recognize that below-market rents mean instant equity growth, and this triplex zoned R-4 delivers exactly that. Featuring three 2BR/1BA units, including a standalone front home (approx. 761 sq ft) and stacked units with alley access (approx. 720 sq ft each), this property is fully occupied on month-to-month leases, allowing immediate rent adjustments to market rates. With pro forma rents estimated at $6,500+, there’s clear room to optimize cash flow and drive superior returns. Beyond the current income, the value-add potential here is undeniable. A third structure, currently a two-car garage, opens the door to additional revenue streams. Whether repurposed into an ADU, converted into a fourth rental unit, or leveraged for further development under R-4 zoning, the ability to maximize density ensures this asset evolves alongside investor strategy. Positioned for long-term growth, this property offers a rare blend of cash flow, appreciation upside, and expansion flexibility. Whether securing steady rental income, repositioning for higher-value tenants, or executing a development play, this is a future-proof investment with endless scalability. Act now—because opportunities like this don’t wait.
Last checked:
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Last updated May 23, 2025
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MLS# PTP2503665 —
The Building
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Year Built:1958
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Year Built Source:Assessor
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Stories Total:2
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Entry Level:2
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Common Walls:1 Common Wall
Interior
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Levels:One, Two
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Entry Location:1
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Room Type:Family Room, Kitchen, Living Room, Main Floor Bedroom, Main Floor Primary Bedroom
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Living Area Source:Assessor
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Fireplace:No
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Fireplace:None
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Laundry:None
Room Dimensions
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Living Area:2212.00
Location
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Directions:Use GPS
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Latitude:32.73484900
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Longitude:-117.10130600
The Property
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Property Type:Residential
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Subtype:Triplex
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Zoning:R-4: Multiple Residential
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Lot Features:0-1 Unit/Acre, Back Yard, Front Yard, Level with Street, Level, Near Public Transit, Walkstreet, Yard
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Lot Size Area:5045.0000
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Lot Size Acres:0.1158
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Lot Size SqFt:5045.00
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Lot Size Source:Assessor
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View:1
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View:Neighborhood, See Remarks
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Fence:No
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Sprinklers:No
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Property Attached:1
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Land Lease:No
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Lease Considered:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Tract:001696
Beds
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Total Bedrooms:6
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Main Level Bedrooms:3
Baths
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Total Baths:3
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Full & Three Quarter Baths:3
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Main Level Baths:2
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Full Baths:3
The Listing
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Special Listing Conditions:Real Estate Owned, Trust
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Parcel Number:4764810900
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Showings Begin:2025-05-23
Heating & Cooling
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Cooling:No
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Cooling:None
Utilities
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Sewer:Public Sewer
Appliances
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Included:No
Schools
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High School District:San Diego Unified
The Community
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Units in the Community:3
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Features:Curbs, Sidewalks, Storm Drains, Street Lights, Suburban
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Association:No
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Pool:None
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Senior Community:No
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Private Pool:No
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Assessments:Yes
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Assessments:Unknown
Parking
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Parking:No
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Parking Spaces:7.00
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Attached Garage:No
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Garage Spaces:2.00
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Uncovered Spaces:5.00
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
5/23/25
May 23, 2025
|
Listed / Active | CRMLS_CA | $999,900 |