Deal numbers

A cap rate estimate is not available for this property yet. Ask Alex for a pro forma using comparable rent data.

Property details

Bedrooms

4

Lot size

2,584 sqft

Year built

1936

Stories

1

Cooling

Heat Pump

Status

Active

Days on market

0

MLS #

248812354

About this property

Now offered at $995,000. Four income-producing units generating $6,775/month in current gross income, including $625/month from the Clear Channel billboard lease. Located on a corner lot directly across from Teralta Park, the property consists of two original units plus two newly constructed ADUs completed in 2024 and currently leased. The unit mix includes two studios and two 1-bedroom units, approximately 320–448 sq ft. One original unit has been recently remodeled, while the remaining original units provide additional opportunity for future improvements. Four separate electric meters provide individual utility metering. With two newer units already completed and leased, existing billboard income, and additional value-add potential, the property offers multiple income streams without the need to build the additional units from the ground up. Commercial zoning may also provide longer-term redevelopment possibilities; buyer to independently verify permitted uses and development potential with the City of San Diego. Centrally located with convenient access to freeways, transit, shopping and employment centers. An opportunity to acquire four units plus billboard income at a price below $1 million. Do not disturb tenants.

Location

4208 40th St

San Diego, San Diego, CA, 92105