4530-4536 38th St, San Diego, CA 92116

• 8 beds |
• 4 baths

Property Description

Welcome to 4530–4536 38th Street, a fully remodeled fourplex ideally located in the vibrant and highly walkable community of Normal Heights. 3,224 Sqft Units 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, with 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, and 0% Down Payment being priced within the conforming loan limit. As an investor, the RM-1-1 zoning, Alley Access, Transit Priority Area, Sustainable Development Area, and Complete Communities initiative, this parcel offers maximum development flexibility and density potential, subject to city approval. Turn-key, Immediate income, Walkability, and Added Potential makes this the Ideal Investment, Owner-User and Investors alike!

Listing Status:

Active

Date Added:

February 19, 2026

Data Last Updated:

April 1, 2026 at 7:11PM

Listing Office:

Coldwell Banker West : 619-325-4100

Listing Agent:

Christopher T Burgos : 754-777-3333

MLS ID:

260003902

Interior

• A/C: Zoned Area(s)
• Heating: Zoned AreasElectric

Exterior

• General: N/K
• Pool: N/K

Construction

• Roofing: Composition
• General: StuccoWood/Stucco2 Story

Location

• HOA Amenities: N/K
• Originating MLS: SDMLS
• County: San Diego

Lot

• Zoning: RM 1-1447-052-17-00
• View: CityEvening LightsMountains/Hills
• Fencing: Full

Utilities

• Utilities: Sewer Available
• Water: Available

Financial

• Source: SDMLS