4530 38th St San Diego, CA 92116
Normal Heights NeighborhoodEstimated payment $12,996/month
Highlights
- City Lights View
- Zoned Heating and Cooling
- Satellite Dish
- Community Barbecue Grill
- Private Streets
- 4-minute walk to Ward Canyon Dog Park
About This Home
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!
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1943
Lot Details
- 5,732 Sq Ft Lot
- Private Streets
- Property is Fully Fenced
- Manual Sprinklers System
Parking
- Alley Access
Property Views
- City Lights
- Mountain
Home Design
- Composition Roof
- Stucco
Interior Spaces
- 8 Bedrooms
- 3,224 Sq Ft Home
- 2-Story Property
- Wired For Data
Utilities
- Zoned Heating and Cooling
- Satellite Dish
- Cable TV Available
Community Details
Overview
- Association fees include n/k
- 4 Units
- Normal Heights Community
- Normal Heights Subdivision
Additional Features
- Community Barbecue Grill
- Operating Expense $34,144
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $20,089 | $1,664,640 | $728,280 | $936,360 |
| 2024 | $20,089 | $1,632,000 | $714,000 | $918,000 |
| 2023 | $11,930 | $970,256 | $476,202 | $494,054 |
| 2022 | $11,613 | $951,232 | $466,865 | $484,367 |
| 2021 | $11,533 | $932,581 | $457,711 | $474,870 |
| 2020 | $11,394 | $923,019 | $453,018 | $470,001 |
| 2019 | $11,191 | $904,922 | $444,136 | $460,786 |
| 2018 | $10,462 | $887,179 | $435,428 | $451,751 |
| 2017 | $10,213 | $869,785 | $426,891 | $442,894 |
| 2016 | $10,049 | $852,731 | $418,521 | $434,210 |
| 2015 | $9,901 | $839,923 | $412,235 | $427,688 |
| 2014 | $9,746 | $823,471 | $404,160 | $419,311 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 02/19/2026 02/19/26 | For Sale | $2,200,000 | +37.5% | $682 / Sq Ft | |
| 06/30/2023 06/30/23 | Sold | $1,600,000 | -5.9% | $496 / Sq Ft | View Prior Sale |
| 06/15/2023 06/15/23 | Pending | -- | -- | -- | |
| 05/27/2023 05/27/23 | For Sale | $1,700,000 | -- | $527 / Sq Ft |
Source: San Diego MLS
MLS Number: 260003902
APN: 447-052-17-00
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