Detached Triplex with
For Sale
$999,000
4159 38th St, San Diego, CA 92105
Three separate living spaces offer flexible occupancy and rental-use options near North Park.
Property Size1,386 SF
Price / SF$720.78
Days on Market52
Property Features for 4159 38th St
General Information
Standard status
Active
Size
1,386 SF
Property subtype
Multi-Family
Zoning
RM-2-5
Site & Location
Neighborhood
Corridor
Units
Unit Mix
1 x 3BR/1.5BA, 1 x 1BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Building Details
Year Built
1926
Buildings
3
Listing Agency:
Real Broker
Listed By:
Grace S Chi connect@placewithgrace.com
Source:
Viewsandiegohouses
Added: Sep 9
Changed: Oct 25
Last Checked: Oct 28 at 8:51AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Real Broker
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Investment Insights
Based on property information with market context.
This triplex property at 4159 38th St includes 1,386 square feet and three detached living spaces. The primary residence contains three bedrooms, one and a half bathrooms, and in-unit laundry. A second dwelling provides one bedroom and one bathroom with access to shared laundry, while an additional detached space is configured with one bedroom and one bathroom. Appliances are included, and the long driveway serves all three structures.
The property is in San Diego near North Park, with shopping, dining, schools, and major freeways in the surrounding area. RM-2-5 zoning and the separated dwelling layout support a range of occupancy arrangements, including rental use and multigenerational living.
The property is in San Diego near North Park, with shopping, dining, schools, and major freeways in the surrounding area. RM-2-5 zoning and the separated dwelling layout support a range of occupancy arrangements, including rental use and multigenerational living.
Key Highlights
- Three detached living spaces on one property
- Primary dwelling includes 3 bedrooms, 1.5 bathrooms, and in‑unit laundry
- Additional units are configured as 1‑bedroom, 1‑bathroom residences
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,138
Cap Rate
2.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$562,760
$562.8K
Cap Rate 7%
$401,971
$402.0K
Cap Rate 9%
$312,644
$312.6K
Market Conditions
NOI Build-Up for 1,386 SF
Gross rent
$42.4K $30.60/SF
− Vacancy
−$2.2K −$1.60/SF
EGI
$40.2K $29.00/SF
− OpEx
−$12.1K −$8.70/SF
NOI
$28.1K $20.30/SF
Area
ZIP 92105
Vacancy
5.22%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$562,760
Cap Rate 7%
$401,971
Cap Rate 9%
$312,644
Alternative Uses
Best Use
Multifamily LT 5
$402.0K
$351.7K – $469.0K
NOI $28,138 @ 7.0% cap · market cap 2.82%
Second Best
Apartment 5plus
$370.5K
$324.2K – $432.2K
NOI $25,933 @ 7.0% cap · market cap 2.60%
Theoretical Best
Specialty Retail
$547.4K
$479.0K – $638.7K
NOI $38,320 @ 7.0% cap · market cap 3.84%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,846
Businesses Nearby
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Business Placement
Demographics for 92105, CA
66,579
Population
23,862
Households
2.8
Avg Household Size
34
Median Age
21%
College-Educated
71%
High-School Grad
5.8 sq mi
ZIP Area
11,479
Density / Sq Mi
$65,174
Median Household Income
$34,469
Median Earnings
$1,687
Median Rent
$593,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Three separate living spaces offer flexible occupancy and rental-use options near North Park.
Where is this triplex located?
The property is located at 4159 38th St San Diego, CA.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Three detached living spaces on one property; Primary dwelling includes 3 bedrooms, 1.5 bathrooms, and in‑unit laundry; Additional units are configured as 1‑bedroom, 1‑bathroom residences
