74
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$2,799,900
Est. payment /mo
5,235 Sqft Lot
New
120 E Redwood Street San Diego, CA 92103
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Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Subdivision San Diego
MLS Listing ID 260011969SD
HOA Y/N No
Year Built 1936
Lot Size 5,235 Sqft
Property Description
A rare 3-unit Banker's Hill investment, available for the first time in 22 years. Designed for the live-in investor: settle into a designer-finished home while two rental units help assist with the mortgage. Also ideal for multi-generational families seeking separate yet connected living spaces under one roof. Top-floor #120 (2BR/2BA, 909sf) carries $280K in PIRCH-sourced improvements: full marble-walled gas fireplace, Liebherr/Bosch chef's kitchen with wine cooler and skylight, spa-caliber primary bath, and a private yard. Lower #112 (2BR/2BA, 1,243sf) and upper-corner #116 (2BR/1BA, 1,216sf) each add two flexible bonus rooms, renovated kitchens, Carrara marble baths, restored hardwoods, wooden shutters, AC, and bay/sunset views. Current rents $3,850/mo each on month-to-month leases; projected market gross $17,000/mo. Three single garages currently bundled with the units and available to unbundle for added income. Strong Airbnb upside: live in one, rent the other two short-term. Lush landscaping on a 5,236 sf lot, steps to Balboa Park, Little Italy dining, and the bay. Banker's Hill is one of San Diego's most sought-after uptown neighborhoods, perched on the bluff between Balboa Park and the bay with Hillcrest just to the north and Little Italy steps to the south. The 112 to 120 Redwood Street homes sit on the quieter, west-facing side of this affluent enclave, where tree-lined streets, historic Craftsman and Victorian architecture, and modern luxury builds combine to create a walkable lifestyle that's hard to replicate anywhere else in the city. Owners here trade the typical suburban routine for morning walks through Balboa Park's 1,200 acres of museums, gardens, and trails, evenings at neighborhood staples like Cucina Urbana and Mister A's, and weekend strolls across the historic Spruce Street Suspension Bridge or down the hill to Little Italy's Saturday farmers market. With sweeping views toward the bay, Coronado, and the Downtown skyline, immediate access to the I-5 and the 163, and a quick drive to the airport, Gaslamp, and the Coronado Bridge, Redwood Street delivers the rare combination buyers chase in central San Diego: a quiet residential street, an elevated city perspective, and a neighborhood that genuinely upgrades daily life. Vimeo walk through tours - https://vimeo.com/1190820535 for unit 120 and https://vimeo.com/1191969407 for units 112 & 116.
Location
State CA
County San Diego
Area 92103 - Mission Hills
Zoning R-3:RESTRI
Interior
Heating Forced Air, Natural Gas
Cooling Central Air
Fireplace No
Appliance Gas Water Heater
Exterior
Fence Partial
View Y/N Yes
View Bay
Roof Type Composition
Building
Lot Description Drip Irrigation/Bubblers, Sprinkler System
Story 1
Entry Level One
Level or Stories One
Others
Senior Community No
Tax ID 4526120500
Acceptable Financing Cash, Conventional, FHA, VA Loan
Listing Terms Cash, Conventional, FHA, VA Loan
Virtual Tour https://vimeo.com/1190820535
Listed by Gregg Neuman Berkshire Hathaway HomeServices California Properties #00809392