Residential Income - 3857 Kendall Street, San Diego, CA

Description

3857–61 Kendall Street presents an exceptional opportunity to acquire four luxury coastal residences in Crown Point, one of San Diego’s most desirable and supply-constrained residential enclaves. Combining newly constructed front residences with a comprehensively renovated rear duplex, the property pairs sophisticated contemporary design with an extraordinary investment in materials, craftsmanship, and technology. Originally conceived as the owner’s personal residence and a long-term pride-of-ownership asset, Kendall was developed with a level of care and customization rarely found in the two- to four-unit market. The owner’s investment extended substantially beyond the original budget, resulting in a residential experience distinguished by Thermador appliances, custom cabinetry and closets, Italian tile, Brizo fixtures, Mitsubishi in-ceiling HVAC, automated shades, and solar power. Four private garages with EV charging further elevate the property’s appeal, delivering convenience and amenities seldom available in a coastal multifamily setting. A subsequent change in the owner’s occupancy plans now brings this meticulously executed property to market. The flagship three-bedroom, two-bath residence anchors the offering, providing an exceptional opportunity for a purchaser seeking a premier coastal home with substantial supplementary rental income. Currently leased at $11,000 per month, this residence includes a purchaser occupancy provision allowing for availability on 60 days’ notice, subject to the lease terms and applicable requirements. The remaining three residences are leased at premium rents, and the property’s leasing history has demonstrated strong demand, with multiple residences securing rents at or above asking shortly after launch. At full stabilization, the property generates approximately $30,750 per month, or $369,000 annually, in gross rental income. This income profile supports two compelling ownership strategies: retain all four residences as a trophy rental investment, or occupy the flagship residence while rental income from the other three meaningfully offsets ownership costs. As a four-residence property, Kendall may also qualify for conventional residential financing, subject to borrower qualifications and lender requirements, broadening its appeal to both investors and owner-users. With its exceptional finishes, demonstrated rental demand, and flexible ownership options, 3857–61 Kendall Street offers a distinctive opportunity to own a luxury coastal asset in the heart of Crown Point.

Property details

Location

3857 Kendall Street • San Diego, CA 92109

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