2328 2nd Avenue
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2328 2nd Avenue

D

San Diego, CA 92101

$2,600,000
NEW — 4d

Soft Appraisal Value: $2,456,600 · 5.8% above estimate

Beds

6

Baths

4

Sqft

3,250

Year Built

1924

Days on Market

4

Property Type

Single Family

HOA/mo

N/A

MLS ID

IV26121140

This property is in San Diego (92101). View neighborhood stats →

About This Property

Introducing a rare opportunity to own a Spanish Revival fourplex in the highly desirable neighborhood of Bankers Hill. Set in one of San Diego’s most walkable and sought-after locations, 2328 2nd Ave offers timeless character, flexible living options, strong income potential, and future upside. The property features four beautiful units, including two upstairs 2-bedroom, 1-bath residences with private balconies and two downstairs 1-bedroom, 1-bath residences. The top unit captures beautiful ocean and city views, while the building itself showcases classic Spanish Revival charm throughout. Select units have been tastefully remodeled with engineered hardwood floors, modern fixtures, designer kitchens, and updated finishes. The remaining units have been preserved in great condition, offering original character and immediate rental appeal. Each unit also includes its own dedicated washer and dryer room, adding convenience and functionality for tenants or owner-users. Additional highlights include a newer roof, a spacious driveway with ample off-street parking, and a generous backyard with room to create inviting outdoor living spaces. The lot also presents exciting long-term potential for added density, ADUs, or future development opportunities. Located moments from Balboa Park, Little Italy, the airport, and some of San Diego’s best restaurants, bars, and neighborhood amenities, this property offers an exceptional blend of lifestyle and investment value. Whether you’re looking to live in one unit and rent the others, create a private family compound, or lease the entire property for strong cash flow, this rare Bankers Hill fourplex is a standout opportunity in a premier urban location.

Mortgage Calculator

Est. Monthly Payment

$16,505

Principal & Interest$13,147
Property Tax$2,600
Insurance$758
%($520,000)
%

Location

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Investment Score

0D
Est. Monthly Rent
$6,206
Monthly Cashflow

Rent − PITIA

$-10,299
Full Cashflow

Incl. vacancy, PM, maint, capex

$-13,893

Mortgage (P+I)
$13,147
Cap Rate
-0.34%
Cash-on-Cash
-32.06%
DSCR

Need ≥ 1.25 for DSCR loan

0.38
Break-even Rent
$24,249

NOI (Annual)
$-8,953
Price-to-Rent

Lower = better for investors

34.9

* Defaults: 20% down, 6.5% rate, 30yr.

Estimates only. Not financial advice. Verify all figures independently with a licensed professional before making any investment decision.

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