641 43 Morrison Street, San Diego, California 92102, San Diego, 92102 - 0 bed, 0 bath
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San Diego, California 92102
This Multi-Unit Residential Income Asset is listed at $1,095,000, aligning precisely with its $1,095,000 Fair Market Value. Featuring a newly built 2024 studio ADU alongside two original units, the property holds a Fair Condition Rating that offers significant value-add potential through interior modernization. With 5 off-street parking spaces and a strategic Mount Hope location near downtown San Diego, the site is positioned for high rental demand and steady cash flow. This versatile triplex is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a high-upside house-hacking opportunity.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 641 43 Morrison Street Subject | $1,095,000* List Price | 0 | 0 | 2,006 | $546 | - |
A 639 43 Morrison Street Active | $1,095,000 List Price | 6 | 3 | 2,006 | $546 | - |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
This triplex presents a mixed bag of conditions. The newly built studio ADU (2024) is in excellent, modern condition with contemporary finishes in the kitchen and bathroom. However, the two original units, built in 1946, are significantly older. One unit appears to have received some updates, such as laminate flooring and fresh paint, but its kitchen features dated wood cabinets, mosaic tile backsplash, and white appliances, while the bathroom has dated tile work and a damaged tub panel, placing it in 'Fair' condition. The other original unit is in 'Poor' condition, characterized by very dated tile flooring, an old kitchen with missing cabinet components, a very outdated bathroom, and visible wall stains/wear. While the property benefits from recent functional upgrades like new water heaters in all units and a new roof on the middle unit, the overall interior quality of the older units, particularly the one in poor condition, brings the property's average condition to 'Fair'. Significant interior renovations would be required for the older units to match the quality of the new ADU and meet modern tenant expectations.
As a triplex with a newly built, fully permitted ADU (2024), the property offers significant rental income potential and flexible occupancy arrangements.
Key upgrades include a new ADU (2024), new water heaters in all units, and a new roof on the middle unit, reducing immediate maintenance concerns.
Situated in Mount Hope, the property boasts excellent access to shops, major freeways, Balboa Park, downtown San Diego, and employment centers, ensuring steady renter interest.
Built in 1946, the original units may have older systems or require more extensive renovations beyond the mentioned upgrades to meet modern tenant expectations.
While plentiful, all 5 parking spaces are uncovered, which may be less desirable than covered parking options for some tenants.
The description highlights specific upgrades but does not detail the overall interior condition or recent renovations of the original 3-bed and 2-bed units, suggesting potential for dated aesthetics or future renovation needs.
Triplex located in San Diego’s Mount Hope neighborhood, offering flexibility for a variety of occupancy or rental arrangements. The property includes three separate units: a spacious 3-bed/1-bath, a 2-bed/1-bath, and a newly built studio ADU. The site features 5 uncovered off-street parking spaces that provide added convenience for occupants. The location offers access to nearby shops, local markets, major freeways, Balboa Park, downtown San Diego, and regional employment centers. The central setting supports steady interest from prospective renters. This property may be suitable for owner-occupants, investors, or those seeking additional living space. Buyers are advised to verify all measurements, income potential, zoning, and use possibilities with appropriate professionals and local agencies. **Fully permitted ADU was built in 2024. All units have new water heaters. Middle unit has new roof.
No exterior & parking available.
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 | 2,006 | 1,440 | 67% |
| Lot Size | 6,098.4 | 6,098.4 | 50% |
| Price | $1.09M | $890.0K | 67% |
| Price per sq ft | $546 | $569 | 33% |
| Built year | 1946 | 1946 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 89 | 236 | 33% |
Jan 23, 2026
$1,095,000
Initial Listing