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Welcome to 4530-4536 38th Street, a fully remodeled fourplex ideally located in the vibrant and highly walkable community of Normal Heights. 3,224 Sqft Units just steps from University Heights, North Park, and Kensington, this property offers the charm, culture, and appreciation trends of all three neighborhoods while sitting in one of San Diego's most strategically located growth corridors. Extensively remodeled in late 2023, each unit has been upgraded with new windows, updated flooring, fresh interior paint, various improvements, and exterior enhancements. The result is a clean, modern, turnkey asset with strong in-place income performance. Fully occupied, These Identical Units make about $156,000 in gross annual income, with Long term rents. However, the true upside is in short-term rental positioning, bringing projected total gross revenue to roughly $234,000 per year. In a high-demand rental corridor like this, that performance shift can dramatically enhance overall return. For a VA-qualified buyer this presents a rare house-hack opportunity. Living in one unit while renting the remaining three creates an immediate wealth-building structure, and 0% Down Payment being priced within the conforming loan limit. As an investor, the RM-1-1 zoning, Alley Access, Transit Priority Area, Sustainable Development Area, and Complete Communities initiative, this parcel offers maximum development flexibility and density potential, subject to city approval. Turn-key, Immediate income, Walkability, and Added Potential makes this the Ideal Investment, Owner-User and Investors alike!
| DAYS ON MARKET | 26 | LAST UPDATED | 2/18/2026 |
|---|---|---|---|
| TRACT | Normal Heights | YEAR BUILT | 1943 |
| COMMUNITY | 92116 - Normal Heights | COUNTY | San Diego |
| STATUS | Active | PROPERTY TYPE(S) | Residential Income |
| ADDITIONAL DETAILS | |
| AIR | Zoned |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Gas Water Heater |
| AREA | 92116 - Normal Heights |
| HEAT | Electric, Zoned |
| LOT | 5732 sq ft |
| LOT DIMENSIONS | 5732 |
| POOL DESCRIPTION | None |
| STORIES | 2 |
| SUBDIVISION | Normal Heights |
| VIEW | Yes |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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Based on information from California Regional Multiple Listing Service, Inc. as of 3/16/26 8:37 AM 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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