4530 38th St, San Diego CA 92116 | $2,200,000

Welcome to 4530–4536 38th Street, a fully remodeled fourplex ideally located in the vibrant and highly walkable community of Normal Heights. Positioned just steps from University Heights, North Park, and Kensington, this property offers the charm, culture, and appreciation trends of all three neighborhoods while sitting in one of San Diego’s most strategically located growth corridors. Extensively remodeled in late 2023, each unit has been upgraded with new windows, updated flooring, fresh interior paint, various improvements, and exterior enhancements. The result is a clean, modern, turnkey asset with strong in-place income performance. Fully occupied, These Identical Units make about $156,000 in gross annual income, Long term rents. However, the true upside is in short-term rental positioning, bringing projected total gross revenue to roughly $234,000 per year. In a high-demand rental corridor like this, that performance shift can dramatically enhance overall return. For a VA-qualified buyer this presents a rare house-hack opportunity. Living in one unit while renting the remaining three creates an immediate wealth-building structure, especially in a neighborhood known for strong appreciation and sustained tenant demand. As an investor, RM-1-1 zoning, Transit Priority Area, Sustainable Development Area, and Complete Communities initiative, the parcel may offer additional development flexibility and density potential, subject to city approval. Turn-key, Immediate income, Walkability, and Added Potential makes this the Ideal Investment, Owner-User or Investor alike!!

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