SERRA VISTA

3346 Lockwood Dr, San Diego, CA 92123

PURCHASE PRICE - $2,645,000

PROPERTY HIGHLIGHTS

New 2025 Construction
Stabilized & Fully Leased
Desirable Serra Mesa Location
Amenity-Rich Interiors
Private Outdoor Space
Efficient Operating Profile
Low Expense Utilities
Digital Security
All Major Systems Replaced

PROPERTY DETAILS

Year Built: 1960

Property Type: Multifamily

Building Size: 3,353 SF

NOI: $139,052.00

Cap Rate: 5.26%

PROPERTY DESCRIPTION

This boutique asset consists of a fully renovated 3-bedroom / 2-bath front house (originally built in 1960) with an attached 1-bedroom / 1-bath unit, along with four newly constructed detached 1-bedroom / 1-bath units completed in 2025. Each unit features modern interior finishes, private fenced outdoor space, in-unit laundry, and energy-efficient systems. The property is fully leased and offers investors a stabilized, low-maintenance asset with long-term upside. The four brand new units are exempt from California’s AB 1482 rent control regulations for 15 years, providing excellent flexibility for future rent increases. With all major systems newly installed, solar-powered electric offset, and contemporary design throughout, Serra Vista represents a truly turnkey opportunity in a high-demand central San Diego sub-market.

LOCATION DESCRIPTION

Serra Mesa, located at the crossroads of San Diego’s most dynamic districts, is a neighborhood prized for its accessible location, balanced lifestyle, and enduring tenant demand. Residents and investors are drawn to its unique blend of suburban stability and urban convenience, anchored by easy access to major medical centers, business hubs, and vibrant retail options.