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 House, a New Construction two-story 3Bed/2.5Bath House, and a… Read More newly constructed 4Bed/2Bath as well. The 3 bedroom 2.5 bath house is currently vacant, offering immediate upside at market rental rates or perfect for someone to house hack and live in the unit. The two remodeled units have been updated to today’s standards, commanding above-market rents. With projected gross annual income of $116,400 and a cap rate of 5%, this asset delivers 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. Read Less
Listing Snapshot
Days Online
31
Last Updated
Property Type
Other
Lot Size
0.21 Acres
Year Built
1979
MLS Number
250034037SD
30 Days Snapshot Of 92113
$650k
+2%
(avg) sold price
9
-10%
homes sold
94
+2%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Built in 1979, Levels: Two, 2 stories, 3 buildings
Cooling
SeeRemarks
Income
Net operating income: $76,814
Lot
0.2084 acres, 9,078 square feet, Size: 9,078
Property
Zoning: RM-1-1
Tenant Pays
SeeRemarks
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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