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 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.
|
DAYS ON MARKET
|
23
|
LAST UPDATED
|
7/28/2025
|
|
TRACT
|
Logan Heights
|
YEAR BUILT
|
1979
|
|
COMMUNITY
|
92113 - Logan Heights
|
COUNTY
|
San Diego
|
|
STATUS
|
Active
|
PROPERTY TYPE(S)
|
Residential Income
|
|
Prior to Jul 28, '25
|
$1,649,000
|
| Jul 28, '25 - Today |
$1,599,000 |
| AIR CONDITIONING |
Yes |
| AREA |
92113 - Logan Heights |
| LOT |
9078 sq ft |
| STORIES |
2 |
| SUBDIVISION |
Logan Heights |
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Listed with Nara Advisors, Inc.
The multiple listing data appearing on this website, or contained in reports produced therefrom, is owned and copyrighted by California Regional Multiple Listing Service, Inc. ("CRMLS") and is protected by all applicable copyright laws. Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in purchasing. All listing data, including but not limited to square footage and lot size is believed to be accurate, but the listing Agent, listing Broker and CRMLS and its affiliates do not warrant or guarantee such accuracy. The viewer should independently verify the listed data prior to making any decisions based on such information by personal inspection and/or contacting a real estate professional.
Based on information from California Regional Multiple Listing Service, Inc. as of 8/12/25 10:36 PM PDT 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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