3048 Laurel Street
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3048 Laurel Street

C

San Diego, CA 92104

$2,399,000

Soft Appraisal Value: $2,317,900 · 3.5% above estimate

Beds

3

Baths

2.5

Sqft

2,316

Year Built

1912

Days on Market

13

Property Type

Single Family

HOA/mo

N/A

MLS ID

260014515SD

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

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About This Property

This iconic Burlingame residence is the rare combination of timeless character, meticulous stewardship, and thoughtful modern livability. Designated as a historic home and benefiting from the coveted Mills Act, the property offers substantial property tax savings — an extraordinary advantage paired with architectural significance. Owned and lovingly restored by the same family for the past 30 years, every inch of the home reflects a deep respect for its original craftsmanship and history, while thoughtfully integrating modern comforts including owned solar. At the heart of the home is a beautifully remodeled kitchen that perfectly captures the owners’ philosophy of restoration. When the granddaughter of the original owner visited years ago, she fondly recalled lying on the cool kitchen floor as a child, gazing up at the textured ceiling above. Inspired by that memory, the current owners painstakingly recreated the feeling of the original space — installing classic tile flooring and sourcing vintage ceiling tiles from a historic bank in Bangor, Maine. It is this level of intention and authenticity that makes the home truly unforgettable. Rich architectural details, warm living spaces, and impeccable finishes create an inviting atmosphere throughout. The stunning primary suite offers a peaceful retreat complete with a spa-inspired bath and private sitting area. Outside, exceptional outdoor living and dining spaces create the perfect backdrop for cozy evenings, intimate gatherings, and effortless entertaining. Adding to the home’s rarity is a true “unicorn” garage — beautifully finished and complemented by substantial attic storage, offering flexibility and functionality seldom found in homes of this era. This is more than a beautifully restored Burlingame home — it is a property with soul, history, and a legacy of care that is nearly impossible to replicate.

Mortgage Calculator

Est. Monthly Payment

$15,229

Principal & Interest$12,131
Property Tax$2,399
Insurance$700
%($479,800)
%

Location

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Investment Score

1D
Est. Monthly Rent
$6,801
Monthly Cashflow

Rent − PITIA

$-8,429
Full Cashflow

Incl. vacancy, PM, maint, capex

$-11,992

Mortgage (P+I)
$12,131
Cap Rate
0.07%
Cash-on-Cash
-29.99%
DSCR

Need ≥ 1.25 for DSCR loan

0.45
Break-even Rent
$22,375

NOI (Annual)
$1,663
Price-to-Rent

Lower = better for investors

29.4

* 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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