4153 42ND ST

San Diego, CA 92105

Loads of character and investment potential in this well-maintained 8-unit apartment building located in the desirable Teralta Heights neighborhood of central San Diego! The centerpiece of the property is a spacious Townhouse-Style 3BR unit with a private balcony, direct access from an attached 1-car garage into the first-floor bedroom, and two additional bedrooms upstairs—perfect for an owner’s unit or premium rental. The remaining seven 1BR/1BA units are situated on both the first and second levels, offering a mix of layouts and finishes. Several units have been updated with luxury vinyl plank and carpet flooring, granite kitchen countertops, and modern appliances including dishwashers, refrigerators, and range/ovens. Every unit has newer windows throughout, adding to efficiency and appeal. Parking is abundant and includes two 1-car garages, four covered carport spaces in the rear, and 5–8 uncovered spaces in the front. The property is securely gated for resident peace of mind. Excellent upside potential for investors to remodel units, enhance curb appeal, and/or increase rents for greater cash flow. Outstanding location near Teralta Park, local shops, and an exciting variety of restaurants and nightlife—all within walking distance. Convenient access to major freeways and the San Diego Trolley makes commuting a breeze, while the vibrant surrounding community adds to long-term rental demand. A rare opportunity to own a character-rich multi-unit property in a high-demand rental market! Outstanding opportunity to acquire an 8-unit multifamily property in the sought-after Teralta Heights neighborhood of central San Diego. This property combines immediate rental income with excellent upside potential through value-add improvements and rent optimization. The current mix includes one large townhouse-style 3BR/2BA unit with private balcony and direct garage access, plus seven 1BR/1BA units in a well-maintained, gated complex. Several units have already been updated with luxury vinyl plank flooring, granite kitchen countertops, and modern appliances including dishwashers, refrigerators, and range/ovens. All units feature newer windows, reducing maintenance costs and enhancing tenant satisfaction. Unit Mix & Parking The front townhouse-style unit offers unique appeal for an owner-occupant or premium rental. The property includes two single-car garages, four covered carport spaces in the rear, and 5–8 uncovered parking spaces in the front—an uncommon advantage in this dense urban area and a major leasing draw. Value-Add Potential This is a prime candidate for investors seeking to increase cash flow. Opportunities include upgrading remaining units to match the remodeled finishes, improving common areas for greater curb appeal, and adjusting rents to market rates in line with the high rental demand of the 92105 ZIP code. The property’s configuration and location also make it a strong candidate for furnished corporate or student housing, further increasing potential gross income. Market & Location Advantages Teralta Heights is part of the dynamic and culturally rich City Heights community, one of San Diego’s most walkable and transit-accessible neighborhoods. The property is located near Teralta Park, grocery stores, and a wide range of restaurants offering global cuisines, from Vietnamese in the Little Saigon Cultural District to Ethiopian, Middle Eastern, and Mexican options along University Avenue. Nightlife, live music, coffee shops, and cultural events add to the area’s renter appeal. Transportation & Access Situated just minutes from I-15, I-805, and I-8, the property offers quick connections to Downtown San Diego, Balboa Park, San Diego State University, and other major employment centers. The San Diego Trolley and multiple bus routes provide reliable public transit for residents who prefer car-free living, broadening the potential tenant pool. Demographics & Demand City Heights maintains one of the highest rental occupancy rates in San Diego, driven by its central location, affordability compared to nearby neighborhoods, and strong community amenities. The high population density supports consistent rental demand, with low vacancy rates historically recorded in the area. Investors benefit from a tenant base that includes professionals, students, and long-term residents. Long-Term Outlook Ongoing revitalization in the surrounding community—new retail, upgraded public spaces, and infrastructure investments—continues to push rental values upward. This neighborhood is poised for steady appreciation while delivering immediate income. With the right improvements, this asset has the potential to outperform market averages in both yield and resale value. Summary This well-maintained, fully gated 8-unit property offers an ideal blend of current income, significant upside, and prime location. Whether held for stable cash flow or improved for a value-add exit strategy, this is a rare opportunity in one of San Diego’s most in-demand rental markets. Investors will appreciate the combination of unique unit mix, abundant parking, solid existing improvements, and the ability to unlock additional revenue through targeted upgrades and rent increases.

Listed by Matt Roth of MATT ROTH 3234289475



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Last checked 2025