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Berkshire Hathaway HomeServices California Properties

1505 Fern Street, San Diego, CA 92102

$3,595,000 Approx. USD 4,100 sqft

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Berkshire Hathaway HomeServices California Properties 11828 Rancho Bernardo Rd, Ste 210
San Diego, CA 92128 888-995-7575

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Listing Agent

Conor M Brennan
Lic#: 01918598
Broker: Courtesy of Conor Brennan, Broker
Phone: 720-841-8139

Listing Details

Property type: Com-Res Income (Multi-Family)

Property Sub-Type:

Status: ACTIVE

Listing ID: 260016488

Price: $3,595,000

Rental Rate: $3,595,000

Lot Size:

4,100 sqft

0.10 acres

County: San Diego

Parking type: None

Construction: All Auto Sprinklers,Fully Landscaped

Parking description: None

Heating description: Wall

Last Updated: 7/17/2026

Days On Market (DOM): 25

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Lat/Long: 32.721482, -117.129076.
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Lot Details

Easement Present: (Easement present. For more information, contact agent.)

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Property Details

We are pleased to present 1505 Fern Street, 1505½ Fern Street, 3034 Beech Street, 3036 Beech Street, and 3038 Beech Street—a rare opportunity to acquire a fully furnished, income-producing residential compound in the heart of San Diego’s highly desirable South Park neighborhood. Combining a restored historic residence, newly constructed ADUs completed in 2024, a transferable Mills Act designation, and a proven furnished rental platform, Fern Street offers a differentiated investment opportunity beyond traditional multifamily ownership. The property consists of five thoughtfully designed residences, including one threebedroom / 2.5-bath unit, one two-bedroom / 2.5-bath unit, two one-bedroom / one-bath units, and one studio / one-bath unit. Three permitted ADUs were completed in 2024, including two newly constructed rear units and a newly created studio residence. All units are delivered fully furnished and currently support a successful blend of vacation rentals and furnished mid-term stays. Rather than relying on a conventional apartment leasing model, Fern Street benefits from a flexible furnished rental strategy supported by strong historical operating performance. The property generated trailing twelve-month revenue of $296,225 and NOI of $193,651, while 2025 operations produced revenue of $285,558 and NOI of $191,431. This established operating history demonstrates the property’s ability to generate durable cash flow while preserving future ownership flexibility. Constructed 1912, the front residence has been extensively restored while preserving its historical charm.

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DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor. GET PRE-APPROVED The loan's interest rate will depend upon the specific characteristics of the loan transaction and credit profile up to the time of closing.

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