Description
Rare North Park investment opportunity — restored 1912 Craftsman TRIPLEX combining strong income, extensive infrastructure upgrades, and owner-quality restoration. Three separately metered units produce approximately $112,800 gross scheduled income with eight total parking spaces including a two-car garage, four driveway spaces, and two alley-access spaces. The main residence (4222 Swift | 3BD/2BA | approx. 1,554 SF) has been extensively restored while preserving its historic character, featuring refinished original hardwood floors, restored Craftsman doors with antique hardware, stained-glass window, and artisan lighting. The remodeled kitchen includes quartzite stone countertops, custom cabinetry, Kohler farmhouse sink with antique bronze fixtures, KitchenAid counter-depth refrigerator, Whirlpool premium gas range with vented hood, and Miele professional dishwasher. Income Units 1BD/1BA | approx. 504 SF Updated with stainless range and refrigerator (2021), Solatube daylight system, epoxy-refinished bath with updated fixtures and plank flooring. Separately metered with gated alley access. 1BD/1BA | approx. 605 SF Updated 2024–2025 with new outlets and switches, Hunter ceiling fan with remote, refreshed kitchen and bath fixtures, professional interior paint, and redwood deck bench. Currently leased through October 2026. Shared laundry room includes LG front-load washer and dryer with pedestal stands, stainless utility sink, cabinetry, and LED lighting. Major capital improvements include full PEX plumbing replacement, Navien tankless water heater, whole-house water filtration system, new roof and flashing, crawl-space French drains and sump pump, foundation inspection and reinforcement, electrical upgrades, new gas lines, new ductwork and attic insulation, Nest thermostat, smart garage system, underground gutter drainage, and exterior paint and stucco repair. The landscaped grounds feature a curated collection of more than 23 mature specimen palms and cycads, creating a distinctive botanical courtyard environment rarely found in residential income properties. Investment Highlights • $112,800 Gross Scheduled Income • Approx. 4.0% Cap Rate (buyer to verify) • Three separately metered units • Eight parking spaces (garage + driveway + alley) • Approx $250,000+ documented improvements • No HOA • North Park Transit Priority Area location Buyer to verify all information including square footage, income, expenses, permits, and zoning prior to close of escrow.
