4358 36th St - Apartments FOR SALE


San Diego, CA 92104- Normal Heights
$1,495,000 USD
858-336-9688
4358 36th St, San Diego, CA for Sale
$1,495,000 USD
Apartments - FOR SALE
1/23
null | Request Cap Rate

4358 36th St
San Diego, CA 92104
Normal Heights


HIGHLIGHTS

  • Four (4) 1-Bed/1-Bath Units with strong in-place monthly income of $7,180
  • Four (4) Single-Car Garages offer optionality for rental income or ADU conversion (subject to city approval)
  • Value-add opportunity through unit renovations and legal rent increases over time
  • Located in Tier 3 of San Diego’s Complete Communities Ordinance with 6.5 FAR density for potential redevelopment
  • Prime Normal Heights location - walkable, high-demand neighborhood near restaurants, bars, coffee shops, and freeway access
  • Strong long-term upside in one of metro San Diego’s most supply-constrained and appreciating rental submarkets

OVERVIEW

Located in the heart of Normal Heights, this well-positioned fourplex offers a rare combination of current cash flow and long-term upside in one of San Diego’s most desirable rental submarkets. The property consists of four 1-bedroom,1-bathroom units, along with four single-car garages at the rear of the lot. The garages provide flexibility for additional income through parking rentals or future ADU conversions, subject to city approval. With in-place rents generating $7,180 per month, this asset offers immediate cash flow and clear upside through unit renovations and rent growth. Located in a supply-constrained, high-demand submarket, it offers a rare blend of stability, value-add potential, and long-term investment appeal. Situated on a spacious 6,261 square foot parcel, the density of the lot is currently at a 6.5 FAR in Tier 3 of the Complete Communities Ordinance of San Diego County. This allows for significant redevelopment potential to maximize the allotted space in one of metro San Diego's most rapidly appreciating submarkets. Normal Heights remains one of San Diego’s most walkable and in-demand neighborhoods, known for its eclectic charm, strong tenant demand, and close proximity to coffee shops, restaurants, bars, and freeway access. This location consistently draws quality tenants, adding another layer of confidence to any investment strategy.

FOR SALE DETAILS

PRICE

$1,495,000 USD

PRICE/SF

$428 USD /SF

# OF UNITS

4

PRICE/UNIT

$373,750

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1943

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.14 AC

LAND SF

6,229 SF

ZONING

R-3, San Diego

APN/PARCEL ID

447-172-19

ASK ABOUT THIS PROPERTY

Jason LeeNara AdvisorsMore Info
858-336-9688

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Jason LeeNara AdvisorsMore Info
858-336-9688

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.