$2,000,000
$100K PRICE DROP

165 20th St San Diego, CA 92102

Sherman Heights Neighborhood

Estimated payment $12,489/month

Total Views 4,043
3 Beds
2 Baths
3,982 Sq Ft
$502 Price per Sq Ft

Highlights

  • Property is near public transit
  • No HOA
  • Laundry Room
  • Corner Lot
  • Park
  • No Heating

About This Home

Well-maintained 7-unit value-add multifamily property in the heart of Sherman Heights, one of San Diego’s most vibrant and rapidly growing neighborhoods. Spans two buildings on a corner lot and includes: (4) 2-bed/1-bath units, (3) 1-bed/1-bath units, (5) large 1-car garages, (5) storage units, gated courtyard, on-site laundry. Potential to convert garages to ADUs. Separate water meters/heaters for all units - tenants pay all utilities. Upgrades include new roofs (2016), new windows (last 3–4 years), interior improvements, various plumbing and electric upgrades, and a sewer main line replacement (15 years ago). Some upper units offer bay, bridge, and Downtown skyline views. With month-to-month tenants in place, there's an estimated 43% income upside, and the units are ready for further upgrades. The location offers easy access to Downtown San Diego, Balboa Park, Petco Park, and the Gaslamp Quarter, plus convenient public transit and freeway access.

Listing Agent

Max Delbecq

Top Gun CRE Brokerage Email: maxd@topguncre.com License #01964069 Listed on: 09/23/2025

Co-Listing Agent

Kenneth Herskind

Top Gun CRE Brokerage Email: maxd@topguncre.com License #01872460

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1966

Lot Details

  • 4,992 Sq Ft Lot
  • Two or More Common Walls
  • Corner Lot
  • Paved or Partially Paved Lot
  • Level Lot

Parking

  • 5 Car Garage

Home Design

  • Property Attached
  • Entry on the 1st floor

Interior Spaces

  • 3,982 Sq Ft Home
  • 2-Story Property
  • Laundry Room

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Bathrooms

Location

  • Property is near public transit
  • Urban Location

Additional Features

  • Exterior Lighting
  • No Heating

Listing and Financial Details

  • Tax Lot 535-424-01-00
  • Tax Tract Number 535
  • Assessor Parcel Number 5354240100
  • Seller Considering Concessions

Community Details

Overview

  • No Home Owners Association
  • 2 Buildings
  • 7 Units

Amenities

  • Laundry Facilities

Recreation

  • Park

Building Details

  • 7 Leased Units
  • Rent Control
  • 7 Separate Electric Meters
  • 7 Separate Gas Meters
  • 7 Separate Water Meters
  • Insurance Expense $7,995
  • Professional Management Expense $6,505
  • Trash Expense $4,200
  • New Taxes Expense $25,843
  • Operating Expense $55,317
  • Gross Income $134,040
  • Net Operating Income $74,781

Property Details

Home Type

Multi-Family

Year Built

Built in 1966

Lot Details

0

Parking

5

Listing Details

  • Assessments: No
  • CapRate: 3.57
  • Professional Management Expense: 6505.00
  • Property Attached: Yes
  • View: No
  • Zoning: RX-1-1 https://scoutred.com/maps/par...
  • Property Type: Residential Income
  • Parcel Number: 5354240100
  • Year Built: 1966
  • AgentOnly_SellerConsiderConcessionYN: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Appliances: No
  • Entry Level: 1
  • Price Per Square Foot: 502.26

Exterior Features

  • Fence: No
  • Pool Private: No
  • Spa: No

Garage/Parking

  • Garage Spaces: 5.00
  • Parking: No
  • Total Parking Spaces: 5.00

Utilities

  • Heating: No
  • Laundry: Yes
  • Laundry Features: Common Area
  • Sewer: Public Sewer
  • Trash Expense: 4200.00

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Curbs, Sidewalks, Storm Drains, Street Lights, Urban, Park

Lot Info

  • Land Lease: No
  • Lot Features: Corner Lot, Level with Street, Level, Near Public Transit, Paved
  • Lot Size Sq Ft: 4992.00
  • Lot Size Acres: 0.1146

Multi Family

  • Gross Income: 134040.00
  • Gross Scheduled Income: 131400.00
  • Insurance Expense: 7995.00
  • Lot Size Area: 4992.0000 Square Feet
  • Net Operating Income: 74781.00
  • Number Of Separate Electric Meters: 7
  • Number Of Separate Gas Meters: 7
  • Number Of Separate Water Meters: 7
  • Number Of Units Leased: 7
  • Number Of Units Total: 7
  • Operating Expense: 55317.00
  • Rent Control: Yes
  • Total Actual Rent: 10950.00
  • Total Expenses: 55317.00

Tax Info

  • New Taxes Expense: 25843.00
  • Tax Lot: 535-424-01-00
  • Tax Tract Number: 535-42

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/28/2025 10/28/25 Price Changed $2,000,000 -4.8% $502 / Sq Ft
09/23/2025 09/23/25 For Sale $2,100,000 -- $527 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PTP2507257

California Regional Multiple Listing Service (CRMLS)

APN: 535-424-01-00

California San Diego County San Diego 92102 Sherman Heights

165 20th St, San Diego, CA

For Sale

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California Regional Multiple Listing Service (CRMLS) The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.

Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information

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Max Delbecq
Listing Agent
Max Delbecq
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Top Gun CRE
(619) 550-4515