Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    4041 38Th St San Diego, CA 92105

    View on Map
    Loading data...
    Loading data...
    Loading data...
    Pending
    $1,475,000

    Three detached, fully renovated units with investment potential.

    Property Features for 4041 38Th St

    General Information

    Property type
    Investment
    Standard status
    Pending

    Building Details

    Year built
    1926

    We can help!

    Listing Contact
    Brian Duarte
    Source: Elliman

    Listing Agent: Brian Duarte

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Renovated Triplex in Cherokee Point

    This fully renovated 3-unit property is located in Cherokee Point, between North Park and Normal Heights. The property features three detached units, each with modern upgrades. The front house is 1,100 square feet with 3 bedrooms and 2 bathrooms. The middle unit offers 600 square feet with 2 bedrooms and 1 bathroom, while the back unit is 650 square feet with 2 bedrooms and 1 bathroom and alley access, including gated parking for up to 3 vehicles. All units have been updated with new roofs, cabinets, counters, bathrooms, appliances, plumbing, HVAC systems, and three tankless water heaters. The property also features landscaping, new interior and exterior doors, updated driveways, and refinished flooring. An onsite laundry building with two stacked units is available for tenants. The location provides proximity to the 15 and 805 freeways and walking distance to eateries along University Avenue, with easy access to public transportation. The fenced private yard is suitable for children or pets. This property is suitable for long-term tenants, traveling nurses, or Airbnb guests, and has Airbnb potential. It is a versatile rental opportunity.
    Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    San Diego
    County
    San Diego
    State
    California
    Longitude
    -117.111502
    Latitude
    32.7505579

    Nearby Similar for Sale

    • $1,149,000
      1,610 SF

      Versatile Commercial Space, San Diego

      Two office spaces with potential for live/work loft.
      2487 Kettner Blvd, San Diego, CA 92101
      View Details
    • $1,189,000
      1,778 SF

      Remodeled Office and Retail Space

      Remodeled office and retail space in the heart of Hillcrest.
      825-829 Washington St, San Diego, CA 92103
      View Details
    • New
      Contact for pricing

      Remodeled Office Space in Hillcrest

      High-visibility office space in a dynamic, walkable San Diego neighborhood.
      825 Washington St, San Diego, CA 92103
      View Details
    • $2,250,000
      1,916 SF

      Retail Opportunity Near Ocean Beach

      Retail building with bonus studio near Ocean Beach Pier.
      4975 Newport Ave, San Diego, CA 92107
      View Details
    • $815,000
      1,524 SF

      Industrial Condo Near Otay Border

      Industrial condominium near Otay Border truck crossing with warehouse space.
      10050 Via De La Amistad, San Diego, CA 92154
      View Details
    • $2,356,000
      7,192 SF

      San Diego Commercial/Industrial Flex Space

      Multi-use commercial/industrial flex space in a sought-after San Diego location.
      3065 Beyer Blvd, San Diego, CA 92154
      View Details
    • Contact for pricing
      0.17 Acres

      Furnished Offices Near Pacific Beach

      Remodeled offices with amenities, near the ocean in Pacific Beach.
      4526-38 Cass St, San Diego, CA 92109
      View Details
    • $2,950,000

      Commercial Property Near Downtown San Diego

      Income-generating commercial asset with long-term tenants and growth potential.
      2751-2771 Imperial Ave, San Diego, CA 92101
      View Details
    • $1,450,000
      3,351 SF

      San Diego Multifamily Investment Opportunity

      Five-unit property with income and upside potential in central San Diego.
      4135-37 Chamoune Ave, San Diego, CA 92105
      View Details
    • $750,000
      1,277 SF

      San Diego Warehouse/Office Condo

      1277 SF warehouse/office condo near Mexico border, easy freeway access.
      10005 Marconi Dr, San Diego, CA 92154
      View Details
    • New
      $850,000
      1,800 SF

      Two Homes on One Lot

      Rare opportunity: two homes on one lot in San Ysidro.
      138 Sellsway St, San Ysidro, CA 92173
      View Details
    • $850,000

      Mixed-Use Property Near Downtown

      Mixed-use investment property near Downtown San Diego and Petco Park.
      2557-59 Imperial Ave, San Diego, CA 92102
      View Details

    FAQs

    What type of property is this?
    Triplex - Three detached, fully renovated units with investment potential.
    Where is this triplex located?
    The property is located at 4041 38Th St San Diego, CA.
    What is the asking price?
    The asking price for this property is $1,475,000.
    What are key features of this property?
    This property features: - Fully renovated 3-unit property with modern upgrades throughout.; - Three detached units offering diverse rental opportunities.; - Prime location between North Park and Normal Heights, near amenities and transportation.
    (619) 985-1996
    Request Owner's contact information
    4041 38Th St San Diego, CA 92105
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    4041 38Th St
    San Diego, CA 92105
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    4041 38Th St San Diego, CA 92105
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Brian Duarte
    (619) 985-1996 (619) 759-1182
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!