3031 Kalmia St
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3031 Kalmia St

D

San Diego, CA 92104

$1,995,000
NEW — 6d

Soft Appraisal Value: $1,947,800 · 2.4% above estimate

Beds

3

Baths

2

Sqft

1,792

Year Built

1953

Days on Market

6

Property Type

Single Family

HOA/mo

N/A

MLS ID

260013269SD

This property is in San Diego (92104). View neighborhood stats →

Virtual Tour

About This Property

Set in the heart of historic Burlingame, this architectural masterpiece seamlessly blends historic charm with award winning modern design. Originally built as a Craftsman bungalow, the home was thoughtfully transformed by architects Rene Davids & Christine Killory into a striking residence now famously known as The Observatory House. The defining feature of the home is its iconic stucco & marble clad tower, an architectural landmark that has earned multiple regional & national design awards, including an AIA Honor Award & recognition as San Diego Home & Garden’s Home of the Year. Inside the tower, a dramatic 19-foot library showcases floor to ceiling built-in shelving with space for approximately 5,000 books, a reading room complete with built-in desk & dumbwaiter, & steel stairways leading to two observation decks. From the upper deck, enjoy breathtaking 360 degree panoramic views spanning Balboa Park, downtown San Diego, the Coronado Bridge, Point Loma’s coastline, & the Jamul mountains. The home beautifully preserves many of its original details, including refinished maple hardwood floors, gum wood crown molding & millwork, custom built-ins, & stained glass windows. Designed around a central courtyard, the grand living room with fireplace, spacious formal dining room, breakfast nook with built-in hutch, & private downstairs office all feature French doors that open to the serene outdoor space, filling the home with natural light & creating seamless indoor outdoor living. The thoughtfully designed kitchen features Birdseye maple cabinetry, granite countertops, slate tile flooring, stainless steel appliances, & a charming conversation bench. The home’s 3 bedrooms & 2 bathrooms are designed to embrace the surrounding landscape, with each space overlooking either the peaceful courtyard or lush backyard, ensuring every room enjoys a visual connection to the natural surroundings. Outdoors, an impressive century old ficus tree anchors the backyard retreat featuring a gazebo, custom koi pond with water feature, wood deck, & brick patio creating an idyllic setting for entertaining or relaxing. The detached two car garage offers access from the spacious gated driveway as well as alley access for convenient parking. Recent homeowner upgrades, representing an investment of over $100,000, include a newer driveway gate, foundation repairs, upgraded electrical panel, sewer line improvements, newer water heater, rooftop decking, and a newer roof, all adding significant value to the property. Located minutes from restaurants, cafés, San Diego Zoo, & the Balboa Park Golf Course, this historical legacy offers the rare opportunity to own an internationally recognized architectural treasure in coveted Burlingame.

Mortgage Calculator

Est. Monthly Payment

$12,665

Principal & Interest$10,088
Property Tax$1,995
Insurance$582
%($399,000)
%

Location

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Investment Score

1D
Est. Monthly Rent
$5,752
Monthly Cashflow

Rent − PITIA

$-6,913
Full Cashflow

Incl. vacancy, PM, maint, capex

$-9,898

Mortgage (P+I)
$10,088
Cap Rate
0.11%
Cash-on-Cash
-29.77%
DSCR

Need ≥ 1.25 for DSCR loan

0.45
Break-even Rent
$18,607

NOI (Annual)
$2,274
Price-to-Rent

Lower = better for investors

28.9

* 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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