$2,800,000
$200K PRICE DROP

3226-32 Adams Ave San Diego, CA 92116

Normal Heights Neighborhood

Estimated payment $17,485/month

Total Views 2,273
1 Bed
1 Bath
3,750 Sq Ft
$747 Price per Sq Ft

About This Home

Pleased to present 3226-32 Adams Avenue located in San Diego, California. Originally built in 1938, the 8-unit apartment complex is located in the highly desirable neighborhood of Normal Heights and boasts a Walk Score of 94. The complex rests on a 0.15 acres lot and features approximately 3,750 rentable square feet. The unit mix consists of (2) one-bedroom / one-bathroom unit and (6) one-bedroom / one-bathroom cottage units. Units feature refurbished hardwood flooring and cottage-style layouts with no shared walls. Current ownership has diligently maintained the property and recently added new roofs to the back building and two of the cottages. The main electrical panel, wiring and gas meters were also upgraded within the last 5 years. Several units have also been retrofitted with dual pane vinyl windows. Attractive tenant offerings include a quaint communal courtyard, secure gated entry, and unbeatable walkability to nearby retail. Parking is offered with (5) attached single-car garages that also create potential for an investor to add ADUs. With ample possibility for renovation, the property presents a strong value-add opportunity for an investor looking to extensively renovate the units to bring current rents to market and maximize overall cash flow. Irreplaceably located on Adams Avenue in central Normal Heights, the property is nestled among all the best attractions the neighborhood has to offer and enjoys easy access to the 15 and 805 freeways. The booming neighborhood of North Park is only a few blocks west and gives tenants even more dining and retail options.

Listing Agent

Ben Sierpina

Marcus & Millichap License #02062416 Listed on: 07/23/2025

Property Details

Home Type

  • Multi-Family

Parking

  • 5 Parking Spaces

Home Design

Interior Spaces

  • 1 Bedroom
  • 3,750 Sq Ft Home
  • 2-Story Property

Community Details

Overview

  • 7 Buildings
  • 8 Units

Building Details

  • 8 Leased Units
  • Operating Expense $67,011

Property Details

Home Type

Multi-Family

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Stories: 2
  • Property Sub Type: Com-Res Income
  • Co List Office Mls Id: 62951
  • Living Area: 3750.0
  • FeedTypes: IDX
  • RFModificationTimestamp: 2025-11-05T01:36:45Z
  • FullAddress: 3226-32 Adams Ave
  • NumofLeasedApartments: 8
  • ShortSale: No
  • Special Features: VirtualTour

Interior Features

  • Total Bedrooms: 1

Garage/Parking

  • Total Parking Spaces: 5.0

Multi Family

  • Number Of Buildings: 7
  • Number Of Units Total: 8
  • Annual Operating Expense: 67011.0

Map

Range of Values:

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Average Value
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List Price
Sold Price
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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
09/12/2025 09/12/25 Price Changed $2,800,000 -6.7% $747 / Sq Ft
07/24/2025 07/24/25 For Sale $3,000,000 -- $800 / Sq Ft
Source: San Diego MLS

Source: San Diego MLS

MLS Number: 250034283

San Diego MLS
California San Diego County San Diego 92116 Normal Heights

3226-32 Adams Ave, San Diego, CA

For Sale

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Ben Sierpina
Listing Agent
Ben Sierpina
Section Image
Marcus & Millichap
(858) 775-9825