3327 Polk Avenue
Ctop 80% of multifamilySan Diego, CA 92104
One license per person in San Diego: whether you can hold it depends on you, not only the home.
108 licensed short-term rentals within ½ mile (76 whole home), from the cities' license and permit lists of Nov 7, 2026.
Pass at asking: -$5,431/mo full cashflow at 20% down, 7.43% rate.
Works at $782,937 (47% under asking), or at 73% down.
Rent $7,809/mo: 3 units of about 602 sqft, each priced from up to 28 closed leases within 0.5 mi ($6,663–$8,478).
Beds
—
Baths
—
Sqft
1,807
Year Built
1933
Days on Market
45
Property Type
Multi-Family
HOA/mo
N/A
MLS ID
NDP2608864
This property is in San Diego (92104). View neighborhood stats →
About This Property
Excellent Investment Opportunity! This well-maintained triplex offers an attractive mix of units, convenient freeway access and a strong rental history. The property features a 3-bedroom/2-bath unit, a 2-bedroom/1-bath unit, and a 1-bedroom/1-bath unit, providing flexibility to appeal to a broad range of tenants. All but one of the bedrooms have laminate flooring, simplifying turnover and ongoing maintenance. The common areas have also been enhanced with beautiful hardwood fencing. The bedroom in the one-bedroom, one-bath front unit still has carpet. All other flooring throughout is laminate and the bathrooms have tile. Each unit features stainless steel appliances, quartz kitchen countertops, ceiling fans in every bedroom and living room and well-maintained interiors. There is no central A/C. The property offers off-street parking, a common-area laundry room, and inviting outdoor common space for residents to enjoy. Exterior lighting provides a well-lit environment at night. Each unit has an individual water heater. The laundry room is professionally managed. Conveniently located with easy freeway access and central to San Diego, this turnkey, easy-to-manage triplex offers an excellent combination of updated units, desirable amenities, and ongoing rental appeal.
Small multifamily · 3 units
Valued on income: each unit priced from closed leases nearby, then added up. County records: 3 units.
| Unit | Units | Rent each | Subtotal |
|---|---|---|---|
| Average unit~602 sqft · 28 leases within 0.5 mi | 3 | $2,603 | $7,809 |
| Gross rent, all units | $7,809/mo | ||
- Gross rent multiplier
- 15.9
- Price per unit
- $496,667
- NOI (a year)
- $38,841
- Cap rate
- 2.61%
Price ÷ a year's gross rent
Median $441,000 across 4 listed 2–4 unit buildings in 92104
Default vacancy, management, upkeep, tax, insurance
Its grade compares it with other multifamily listings only: a building valued on income isn't ranked against houses and condos.
House hack with FHA
Live in the one unit, rent the other 2.
FHA likely won't lend on this one at this price. For 3 and 4 units it counts 75% of all the units' rent ($5,857/mo), and that has to cover the full payment ($12,735/mo). The numbers below are for reference.
- Down payment
- $52,150
- Your cost to live there
- $9,968/mo
- More than renting it
- $7,365/mo
3.5% · plus closing costs
After $5,206/mo from the other units
vs $2,603/mo to rent the same unit
How this is figured
- Loan $1,463,012 ($1,437,850 + 1.75% upfront mortgage insurance) at 7.18% (Freddie Mac 30-year average, week of Nov 5, 2026), 30 years: $9,911/mo
- FHA mortgage insurance $899/mo · property tax $1,490/mo · insurance $435/mo
- Vacancy, management and capex on the rented units, upkeep on the building: $2,439/mo
- FHA allows 3.5% down on 2–4 units when you live in one, up to HUD's 2026 San Diego County limit for 3 units ($1,708,400). Lenders count only part of the other units' rent toward qualifying.
Compare other buildings on the small multifamily page.
Mortgage Calculator
Est. Monthly Payment
$10,202
Location
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Zoned Schools
Elementary
Edison Elementary · grades PK-5 · San Diego Unified
Middle
Wilson Middle · grades 6-8 · San Diego Unified
High
Hoover High · grades 9-12 · San Diego Unified
The district's assigned schools for this parcel, from its attendance boundaries and rules. Boundaries change: confirm with the district before you buy.
Comparable Properties
3 comps foundThis Property
$7,809
Comp Average
$7,503
4373 Cherokee
1,975 sqft · Multi-Family
$975K
Est. $7,161/mo
4266 Cherokee Avenue
1,858 sqft · Multi-Family
$1.20M
Est. $7,044/mo
4319 Swift Avenue
2,280 sqft · Multi-Family
$1.45M
Est. $8,304/mo
Comps based on same zip code, similar beds (±1), price range (60-150%).
This is a 3-unit building: on the mid-term and short-term tabs, enter the rent, nightly rate and occupancy for all units combined.
Investment Score
3 units of about 602 sqft, each priced from up to 28 closed leases within 0.5 mi · $6,663–$8,478
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$5,431/mo short at 20% down; 73% down or +$7,054/mo rent closes it.
- Break-even price
- $782,937
- Break-even rent
- $14,863/mo
- Cashflow at 35% down
- −$3,879/mo
- Down payment to break even
- 73%
- Rate to break even
- Not reachable
47% under asking
$7,054/mo above the estimate
$1,087,700 cash
Negative even at a 0% loan
Need ≥ 1.25 for DSCR loan
Lower = better for investors
* Modelled at 20% down, 7.43% rate, 30yr · vacancy 8% · PM 10% · capex 5% · maintenance 1%/yr.
Estimates only. Not financial advice. Verify all figures independently with a licensed professional before making any investment decision.
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