Savvy investors recognize that below-market rents mean instant equity growth, and this triplex zoned R-4 delivers exactly that. Featuring three 2BR/1BA units, including a standalone front home (approx. 761 sq ft) and stacked units with alley access (approx. 720 sq ft each), this property is fully occupied on month-to-month leases, allowing immediate rent adjustments to market rates. With pro forma rents estimated at $6,500+, there’s clear room to optimize cash flow and drive superior returns. Beyond the current income, the value-add potential here is undeniable. A third structure, currently a two-car garage, opens the door to additional revenue streams. Whether repurposed into an ADU, converted into a fourth rental unit, or leveraged for further development under R-4 zoning, the ability to maximize density ensures this asset evolves alongside investor strategy. Positioned for long-term growth, this property offers a rare blend of cash flow, appreciation upside, and expansion flexibility. Whether securing steady rental income or executing a development play, this is a future-proof investment with endless scalability. Act now—because opportunities like this don’t wait.
Sold for $1,025,000
Listed by: Real Broker • Andrew Santiago • Contact: 619-758-5707
Bought with: Real Broker
$1,025,000
2732-38 Fairmount Ave, San Diego, CA 92105
6beds
2,212sqft
Triplex
Built in 1958
-- sqft lot
$1,032,300 Zestimate®
$463/sqft
$2,651 Estimated rent
Home value
$1,032,300
$950,000 - $1.13M
$2,651/mo
Zestimate® history
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Zillow last checked:
Listing updated:
Listed by:
Andrew Santiago DRE #01975921 619-758-5707,
Real Broker
Bought with:
Carlos Henriquez, DRE #02238043
Real Broker
Source: CRMLS,MLS#: PTP2503665
Originating MLS: California Regional MLS (North San Diego County & Pacific Southwest AORs)
Originating MLS: California Regional MLS (North San Diego County & Pacific Southwest AORs)Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 6
- Bathrooms: 3
- Full bathrooms: 3
- Main level bathrooms: 2
- Main level bedrooms: 3
Rooms
- Room types: Bedroom, Family Room, Kitchen, Living Room, Primary Bedroom
Primary bedroom
- Features: Main Level Primary
Bedroom
- Features: Bedroom on Main Level
Cooling
- None
Appliances
- Laundry: None
Features
- Bedroom on Main Level, Main Level Primary
- Has fireplace: No
- Fireplace features: None
- Common walls with other units/homes: 1 Common Wall
Interior area
- Total interior livable area: 2,212 sqft
Property
Parking
- Total spaces: 7
- Parking features: Garage
- Garage spaces: 2
- Uncovered spaces: 5
Features
- Levels: One,Two
- Stories: 1
- Entry location: 1
- Pool features: None
- Has view: Yes
- View description: Neighborhood
Lot
- Size: 5,045 Square Feet
- Features: 0-1 Unit/Acre, Back Yard, Front Yard, Level, Near Public Transit, Street Level, Walkstreet, Yard
Details
- Parcel number: 4764810900
- Zoning: R-4: Multiple Residential
- Special conditions: Real Estate Owned,Trust
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Triplex
- Attached to another structure: Yes
Condition
- Year built: 1958
Utilities & green energy
- Sewer: Public Sewer
Community & HOA
Community
- Features: Curbs, Storm Drain(s), Street Lights, Suburban, Sidewalks
Location
- Region: San Diego
Financial & listing details
- Price per square foot: $463/sqft
- Tax assessed value: $1,034,677
- Annual tax amount: $13,513
- Date on market: 5/23/2025
- Listing terms: Cash,Conventional,1031 Exchange,FHA,VA Loan
Price history
| Date | Event | Price |
|---|---|---|
| 11/16/2025 | Listing removed | $2,850$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 11/9/2025 | Listed for rent | $2,850$1/sqft |
Source: Zillow Rentals Report a problem | ||
| 6/27/2025 | Sold | $1,025,000+876.2%$463/sqft |
Source:  CRMLS #PTP2503665 Report a problem | ||
| 8/4/1995 | Sold | $105,000-4%$47/sqft |
Source: Public Record Report a problem | ||
| 10/5/1994 | Sold | $109,333$49/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $13,513 +8.1% | $1,034,677 +2% |
| 2024 | $12,499 +2.3% | $1,014,390 +2% |
| 2023 | $12,222 +500.1% | $994,500 +505.1% |
| 2022 | $2,037 +0.7% | $164,341 +2% |
| 2021 | $2,023 +1.2% | $161,120 +1% |
| 2020 | $1,999 +3.8% | $159,469 +2% |
| 2019 | $1,926 +4.8% | $156,344 +2% |
| 2018 | $1,838 +2.5% | $153,280 +2% |
| 2017 | $1,793 +1.8% | $150,275 +2% |
| 2016 | $1,763 +1.5% | $147,329 +1.5% |
| 2015 | $1,737 +1.5% | $145,117 +2% |
| 2014 | $1,711 | $142,275 +0.5% |
| 2013 | -- | $141,633 +2% |
| 2012 | -- | $138,857 +2% |
| 2011 | -- | $136,135 +0.8% |
| 2010 | -- | $135,119 -0.2% |
| 2009 | -- | $135,441 +2% |
| 2008 | -- | $132,786 +2% |
| 2007 | -- | $130,184 +2% |
| 2006 | -- | $127,632 +2% |
| 2005 | -- | $125,131 +2% |
| 2004 | -- | $122,678 +1.9% |
| 2003 | -- | $120,431 +2% |
| 2002 | -- | $118,071 +2% |
| 2001 | -- | $115,757 |
Find assessor info on the county website
Neighborhood: Swan Canyon
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Nearby schools
GreatSchools rating
- 8/10Hamilton Elementary SchoolGrades: K-5Distance: 0.1 mi
- 2/10Clark Middle SchoolGrades: 6-8Distance: 0.4 mi
- 4/10Hoover High SchoolGrades: 9-12Distance: 1.6 mi
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Estimated market value
$1,032,300
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Estimated market value
$1,032,300
- California
- San Diego County
- San Diego
- 92105
- Swan Canyon
- 2732-38 Fairmount Ave
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