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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.
Property Type(s):
Residential Income
| Last Updated | 8/29/2025 | Tract | Logan Heights |
|---|---|---|---|
| Year Built | 1979 | Community | 92113 - Logan Heights |
| County | San Diego |
Price History
| Prior to Jul 28, '25 | $1,649,000 |
|---|---|
| Jul 28, '25 - Aug 29, '25 | $1,599,000 |
| Aug 29, '25 - Today | $1,550,000 |
Additional Details
| AIR CONDITIONING | Yes |
|---|---|
| AREA | 92113 - Logan Heights |
| LOT | 9078 sq ft |
| STORIES | 2 |
| SUBDIVISION | Logan Heights |
Location
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Listed with Nara Advisors, Inc.
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