- 9 Beds
- 6 Baths
- .21 Acres
- 71 DOM
1138 42 35th St
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.
Essential Information
- MLS® #250034037SD
- Price$1,475,000
- Bedrooms9
- Bathrooms6.00
- Acres0.21
- Year Built2020
- TypeResidential Income
- StatusActive
Community Information
- Address1138 42 35th St
- Area92113 - Logan Heights
- SubdivisionLogan Heights
- CitySan Diego
- CountySan Diego
- Zip Code92113
Interior
- CoolingSee Remarks
- # of Stories2
- StoriesTwo
Additional Information
- Date ListedJuly 21st, 2025
- Days on Market71
- ZoningRM-1-1
Listing Details
- AgentJason Lee
- OfficeNara Advisors, Inc.
Price Change History for 1138 42 35th St, San Diego, (MLS® #250034037SD)
| Date | Details | Change |
|---|---|---|
| Price Reduced from $1,550,000 to $1,475,000 | ||
| Price Reduced from $1,599,000 to $1,550,000 | ||
| Price Reduced from $1,649,000 to $1,599,000 |
Jason Lee, Nara Advisors, Inc..
Based on information from California Regional Multiple Listing Service, Inc. as of September 30th, 2025 at 5:15pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.