1138-42 S 35th St, San Diego, CA 92113

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Glen Henderson

[email protected] +1(619) 889-7646

$1,475,000

Est. payment - /mo

9 Beds

5.5 Baths

9,078 Sqft Lot

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Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

Subdivision Logan Heights

MLS Listing ID 250034037

Bedrooms 9

Full Baths 5

Half Baths 1

Year Built 2020

Lot Size 9,078 Sqft

Property Sub-Type Res Income 2-4 Units

Property Type Res Income 2-4 Units

Property Description

1138-42 S 35th St offers a rare opportunity to own a NEW CONSTRUCTION, income-producing triplex in the heart of Southcrest—one of Southeastern San Diego's most desirable rental markets. Situated on a single parcel, this property features three standalone structures: a 2Bed/1Bath unit leased at $2,166 per month, a new two-story 3Bed/2.5Bath unit leased at $3,250 per month, and a recently built 4Bed/2Bath unit leased at $3,480 per month. Recent upgrades further enhance long-term stability and ease of ownership. All three homes were equipped in 2020 with new ABS plumbing lines directly to the main. Two of the homes also feature tankless water heaters installed in 2020, while the third received a new standard water heater in 2022. At 3488 Boston Ave, tenants enjoy brand new tuff landscaping and an added parking space—boosting both curb appeal and functionality. The property generates a current gross scheduled income of $106,752 and supports a 5.1% cap rate at the reduced asking price, delivering strong cash flow and minimal overhead. Tenants pay for SDGE and water, and operating expenses remain low due to the property's turnkey condition. Located just minutes from Downtown San Diego, Southcrest continues to attract strong tenant demand thanks to its walkability, vibrant culture, and quick freeway access. This is an ideal opportunity for investors seeking a high-performing asset in a growing urban market.

Location

State CA

County San Diego

Area Metro Central

Zoning RM-1-1

Interior

Cooling Other/Remarks

Fireplace No

Exterior

Fence Other/Remarks

View Y/N No

Roof Type Other/Remarks

Building

Story 2

Level or Stories 2

Others

Tax ID 550-182-16-00

Special Listing Condition Other/Remarks

Virtual Tour https://www.propertypanorama.com/instaview/snd/250034037

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Listed by Jason J Lee Nara Advisors, Inc.

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Glen Henderson

+1(619) 889-7646

Broker Associate | CA BRE #01384181

Broker Associate CA BRE #01384181

San Diego Communities

1138-42 S 35th St San Diego, CA 92113

Glen Henderson

Key Details

Location

Interior

Exterior

Building

Others

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