3606 Florida
Dbottom 20% of multifamilySan Diego, CA 92104
One license per person in San Diego: whether you can hold it depends on you, not only the home.
99 licensed short-term rentals within ½ mile (61 whole home), from the cities' license and permit lists of Nov 10, 2026.
Pass at asking: -$6,012/mo full cashflow at 20% down, 7.43% rate.
Works at $475,155 (62% under asking), or at 89% down.
Rent $4,740/mo: 2 units of about 543 sqft, each priced from up to 15 closed leases within 0.5 mi ($4,148–$5,224).
Beds
—
Baths
—
Sqft
1,085
Year Built
1926
Days on Market
94
Property Type
Multi-Family
HOA/mo
N/A
MLS ID
NDP2607340
This property is in San Diego (92104). View neighborhood stats →
About This Property
AMAZING 2.5% ASSUMABLE LOAN call agent for details. Rich in character & architectural charm, this North Park Spanish-style home showcases the craftsmanship & timeless appeal that define the neighborhood. Thoughtful updates complement its original character while preserving its distinctive charm. The 2 bedroom 1 bath main residence lives and feels like a single family home, all while a separate attached 1BR/1BA unit with its own entrance & patio area provides an ideal space for guests, extended family or rental income. Upgrades include 3 mini-split systems in the main house, newer TPO energy efficient roof, new vinyl fencing, 30 AMP EV car charger, new refrigerator & range in the main house, new paint throughout, & the studio has new flooring, freshly painted kitchen cabinets & a freshly tiled walk-in shower. Situated in San Diego’s most vibrant & walkable neighborhoods, homes like this rarely come up in this location.
House + ADU · 2 units
Valued on income: each unit priced from closed leases nearby, then added up. County records a single-family parcel with an ADU; the listing says 2 units.
| Unit | Units | Rent each | Subtotal |
|---|---|---|---|
| Average unit~543 sqft · 15 leases within 0.5 mi | 2 | $2,370 | $4,740 |
| Gross rent, all units | $4,740/mo | ||
- Gross rent multiplier
- 22.1
- Price per unit
- $629,000
- NOI (a year)
- $14,562
- Cap rate
- 1.16%
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 1.
- Down payment
- $154,000
- Your cost to live there
- $9,102/mo
- More than renting it
- $6,732/mo
12.2% · plus closing costs
After $2,370/mo from the other unit
vs $2,370/mo to rent the same unit
How this is figured
- Loan $1,123,320 ($1,104,000 + 1.75% upfront mortgage insurance) at 7.18% (Freddie Mac 30-year average, week of Nov 5, 2026), 30 years: $7,610/mo
- FHA mortgage insurance $644/mo · property tax $1,258/mo · insurance $367/mo
- Vacancy, management and capex on the rented units, upkeep on the building: $1,593/mo
- FHA counts a house with one ADU as a one-unit home: 3.5% down when you live there, up to HUD's 2026 San Diego County one-unit limit ($1,104,000); this price is above it, so the down payment covers the difference. Lenders count only part of the other units' rent toward qualifying.
Compare other buildings on the small multifamily page.
Mortgage Calculator
Est. Monthly Payment
$8,614
Location
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Zoned Schools
Elementary
Jefferson Elementary · grades PK-5 · San Diego Unified
Middle
Roosevelt International Middle · grades 6-8 · San Diego Unified
High
San Diego 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
$4,740
Comp Average
$7,371
4373 Cherokee
1,975 sqft · Multi-Family
$975K
Est. $7,245/mo
4266 Cherokee Avenue
1,858 sqft · Multi-Family
$1.20M
Est. $7,059/mo
3327 Polk Avenue
1,807 sqft · Multi-Family
$1.49M
Est. $7,809/mo
Comps based on same zip code, similar beds (±1), price range (60-150%).
This is a 2-unit building: on the mid-term and short-term tabs, enter the rent, nightly rate and occupancy for all units combined.
Investment Score
2 units of about 543 sqft, each priced from up to 15 closed leases within 0.5 mi · $4,148–$5,224
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$6,012/mo short at 20% down; 89% down or +$7,808/mo rent closes it.
- Break-even price
- $475,155
- Break-even rent
- $12,548/mo
- Cashflow at 35% down
- −$4,702/mo
- Down payment to break even
- 89%
- Rate to break even
- Not reachable
62% under asking
$7,808/mo above the estimate
$1,119,620 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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