916 Madera Street, San Diego, California 92114, San Diego, 92114 - 3 bed, 3 bath
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San Diego, California 92114
This Multi-Unit Income Property is a versatile residential asset listed at $949,900, positioned near its $910,691 Fair Market Value. Boasting a Condition Rating of 3, the property features a Fully Renovated ADU and a main residence with a projected $6,000+ Monthly Income Potential. The property sits on a 0.19-Acre Lot with Hills Views and is conveniently located near Encanto Elementary School. With No HOA Fees, this is an ideal opportunity for Owner-Occupants looking to house-hack or Buy-and-Hold Investors seeking a high-yield San Diego asset.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 916 Madera Street Subject | $949,900* List Price | 3 | 3 | 1,586 | $574 | - |
A 215 Henrietta Ct Sold | $799,000 | 4 | 2 | 1,452 | $550 | 0.9 mi |
B 7023 Lisbon Street Sold | $730,000 | 4 | 2 | 1,144 | $638 | 0.5 mi |
C 111 69th Street Sold | $770,000 | 4 | 2 | 1,738 | $443 | 0.9 mi |
D 348 Sychar Sold | $755,000 | 3 | 2 | 1,378 | $548 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
The property consists of three units with varying levels of updates. At least one unit has been recently and extensively renovated with modern white shaker cabinets, quartz-style countertops, stainless steel appliances, recessed lighting, and contemporary bathroom fixtures. Other units, while featuring older oak cabinetry and tile countertops, remain well-maintained and move-in ready with updated laminate flooring and stainless steel appliances. While the structure dates to 1935, the interior systems and finishes have been significantly updated to meet modern standards.
With three income-generating units and a projected monthly revenue exceeding $6,000, this property offers an exceptional cap rate and investment return for a sub-$1 million price point.
The multi-unit configuration is ideal for 'house hacking,' allowing an owner-occupant to live in one unit while significantly offsetting their mortgage through rental income from the other two.
The generous 0.19-acre lot provides rare space and privacy in a high-density area, further enhanced by the absence of monthly homeowner association fees.
The garage conversion is currently pending final city approval, which could pose risks for traditional financing or future code compliance if not successfully finalized.
Built in 1935, the property's nearly 90-year-old structure may require more frequent maintenance and potential upgrades to major systems compared to newer builds.
3 incomes built into one property! Fully renovated & permitted garage conversion (ADU) Discover an extraordinary investment opportunity at 916 Madera St, where three income-generating units converge into one unique property, all for under $1 million. This thoughtfully designed asset offers the potential for over $6,000 in monthly income, positioning it as an exceptional choice for both owner-occupants and savvy investors. With options to live in one unit while renting out the others, or lease all three for maximum cash flow, flexibility is at your fingertips. The property features a recent garage conversion, pending final city approval, enhancing its attractiveness in a low vacancy area. Spanning a generous .19-acre lot, this residence not only provides a home but also allows you to offset your mortgage with additional rental income. Why pay homeowner association fees when you can enjoy the benefits of being both a homeowner and a landlord? Seize this unique opportunity to elevate your financial future; properties like this are rare and will not remain on the market for long.
No exterior & parking available.
Grades K-5 • 0.2 mi
Grades PK-6 • 0.8 mi
Grades 6-8 • 2.1 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 3.0 | 2.0 | 82% |
| Square foot | 1,586 | 1,412 | 64% |
| Lot Size | 8,276.4 | 6,200 | 75% |
| Price | $949.9K | $762.0K | 98% |
| Price per sq ft | $599 | $531 | 67% |
| Built year | 1935 | 1962 | 1% |
| HOA | $0 | $0 | 50% |
| Days on market | 6 | 155 | 3% |
Apr 16, 2026
$949,900
Initial Listing
Jul 14, 2025
$550,000
Public Record
Sep 28, 2006
$425,000
Public Record