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639 43 Morrison Street, San Diego, California 92102, San Diego, - bed, bath

home-pic
ACTIVE$1,095,000
639 43 Morrison Street, San Diego, California 92102
6Beds
3Baths
1,906Sqft
6,098.4Lot
Year Built
1946
Close
-
List price
$1.09M
Original List price
$1.1M
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
NDP2507399
Home ConditionFair
Features
Patio
View-

About this home

Live, Earn, Invest — All in One Property! This exceptional triplex in San Diego’s Mount Hope neighborhood offers a rare opportunity to live in one unit while generating rental income from the others. The property includes three distinct units: a spacious 3-bedroom/1-bath, a comfortable 2-bedroom/1-bath, and a newly built studio ADU. All units are currently tenant-occupied under month-to-month leases, providing flexibility for owner-occupancy or investment transitions. The site features six uncovered off-street parking spaces, enhancing daily convenience for residents. Located within walking distance to shops and local markets, and just minutes from major freeways, Balboa Park, downtown San Diego, and employment centers, this property benefits from strong rental demand and long-term appreciation. Whether you’re a multi-generational buyer, aspiring landlord, or seeking to offset your mortgage with passive income, it presents a compelling mix of lifestyle and investment potential.

Price History

Date
Event
Price
10/30/25
Price Change
$1,095,000
07/28/25
Listing
$1,099,000
Condition Rating
Fair
The property was built in 1946, making the two main units over 70 years old. While the listing mentions a 'newly built studio ADU' which would be in excellent condition, the absence of interior photos for the other two 'existing' units, combined with the dated exterior appearance, strongly suggests they are in original or very outdated condition. These units likely require substantial updates to kitchens, bathrooms, and other systems to meet current standards, placing them in the 'fair' to 'poor' category. The new ADU elevates the overall property from a lower score, but the majority of the property still requires significant renovation.
Pros & Cons

Pros

Income-Generating Triplex: The property is an exceptional triplex offering the opportunity to live in one unit while generating rental income from the others, ideal for investors, multi-generational buyers, or owner-occupants seeking to offset mortgage costs.
Diverse Unit Mix with New ADU: Features three distinct units: a spacious 3-bedroom, a comfortable 2-bedroom, and a newly built studio ADU, providing varied rental income streams and appealing to a broad tenant base.
Prime Location & Accessibility: Located in San Diego's Mount Hope neighborhood, within walking distance to shops and markets, and minutes from major freeways, Balboa Park, and downtown, ensuring strong rental demand and long-term appreciation.
Tenant-Occupied with Lease Flexibility: All units are currently tenant-occupied under month-to-month leases, providing immediate income and flexibility for an owner-occupant to move into a unit or for investment transitions.
Ample Off-Street Parking: The site includes six uncovered off-street parking spaces, a significant convenience for residents in an urban setting.

Cons

Older Construction: Built in 1946, the main structures may require significant updates to systems (plumbing, electrical) and aesthetics, beyond the newly built ADU, potentially incurring future capital expenditures.
Potential for Dated Interiors: The description highlights the new ADU but does not specify recent renovations for the main units, suggesting they might be in original or dated condition, which could limit rental premium or require upgrades.
Month-to-Month Lease Volatility: While offering flexibility, month-to-month leases can lead to higher tenant turnover and associated costs (vacancy, re-leasing, repairs) compared to properties with longer-term lease agreements.

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