4499 Campus Avenue, San Diego, California 92116, San Diego, 92116 - 0 bed, 0 bath
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San Diego, California 92116
This triplex presents a High-Potential Investment Opportunity with a List Price of $1,299,999—positioned above the $1,255,903 Fair Market Value. While the property requires a full rehab due to its Condition Rating of 5, it features a rare 2.9% assumable mortgage and a detached cottage layout on a corner lot. Located in a highly walkable University Heights neighborhood, this asset offers significant rental demand. It is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants looking to execute a value-add strategy in a prime San Diego location.
Property is extensive renovation needed.
Built in 1946, this property shows significant age with no evidence of recent major renovations. The kitchen features outdated appliances and finishes likely over 30 years old, and the systems are dated, relying on window AC units rather than central HVAC. The outdoor laundry area appears unfinished and exposed, indicating a need for a full rehab to meet modern safety and functional standards.
The property features a rare 2.9% assumable mortgage, providing a significant financial advantage and lower monthly carrying costs compared to current market interest rates.
The triplex consists of three detached cottages on a corner lot, offering tenants superior privacy and a 'single-family home' feel that typically commands higher rents and lower vacancy.
Situated in the heart of University Heights near Park Blvd, the property boasts an elite walkability score with immediate access to San Diego’s best cafes, restaurants, and Balboa Park.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =3484, other record lot size in square feet = 3304.
With only 1,254 total square feet for three units, the individual living spaces are quite small (averaging ~418 sqft), which may limit the tenant pool to single occupants.
Built in 1946, these three separate structures may require higher-than-average upkeep and capital expenditures for aging systems and infrastructure compared to modern builds.
Rare opportunity to own a charming Triplex in the heart of highly desirable University Heights. This unique property features three detached 1-bedroom, 1-bath cottages on a corner lot, offering great visibility and flexibility for both investors and owner-occupants. Each unit offers its own character and comfortable living space, creating strong rental appeal in one of San Diego’s most walkable neighborhoods. Ideally located just west of Park Blvd, residents enjoy easy access to popular restaurants, cafés, shops, and neighborhood favorites, with close proximity to North Park, Balboa Park, Downtown San Diego, Hillcrest, and major freeways. The property sits in the vibrant University Heights community, known for its lively atmosphere, local dining scene, and central location. Perfect for investors seeking income potential or buyers looking to live in one unit while renting the others. With strong rental demand and a premier San Diego location, this triplex offers a rare combination of lifestyle, flexibility, and long-term upside.
No exterior & parking available.
Grades K-5 • 0.3 mi
Grades K-5 • 0.8 mi
Grades K-5 • 1.1 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 1,254 | 1,358 | 50% |
| Lot Size | 3,484.8 | 3,386.9 | 50% |
| Price | $1.30M | $1.10M | 50% |
| Price per sq ft | $1.0K | $829 | 50% |
| Built year | 1946 | 1947 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 43 | 106 | 50% |
May 4, 2026
$1,299,999
Initial Listing
Oct 23, 2020
$970,000
Public Record
Nov 3, 2011
$347,000
Public Record
Apr 28, 2006
$650,000
Public Record