San Diego Triplex: Existing Income + ADU Upside + Major Electrical Upgrade Completed
San Diego Triplex: Existing Income + ADU Upside + Major Electrical Upgrade Completed
Broker-listed triplex in San Diego that is available for serious investor review.
Address:
3851 42nd St, San Diego, CA 92105
Redfin: https://redf.in/ttmz2M
Zillow: https://www.zillow.com/homedetails/3851-42nd-St-San-Diego-CA...
Property Snapshot:
3-unit residential income property
Front detached unit: 2 bed / 1 bath
Rear units: two 1 bed / 1 bath units
Current List Price: $1,275,000
Current Rent Income: $6,395/month
Approx. Annual Rent Income: $76,740/year
Total Scheduled Monthly Charges: approx. $6,772/month including tenant-paid utility/other monthly charges
All 3 units currently leased
No HOA
Approx. 4,544 sq. ft. lot per public listing data
RM / multi-unit zoning shown in public listing data
Current Lease Snapshot:
Front 2/1: $2,975/month rent income, leased through 07/31/2026
Unit B 1/1: $1,825/month rent income, leased through 09/30/2026
Unit A 1/1: $1,595/month rent income, leased through 01/31/2027
Major Improvement:
Major electrical work completed in 2024, including removal of knob-and-tube wiring in the house, rewiring to current NEC standards, GFCI-protected receptacles in exterior/kitchen/bath/laundry areas, and grounding work. Documentation available for qualified buyers.
Why This May Be Worth Investor Review:
Existing rent income in place from day one
All 3 units are currently leased
Small multifamily asset in central San Diego
No HOA
RM / multi-unit zoning shown in public listing data
Potential ADU / value-add / redevelopment upside, buyer to verify
Transit-accessible location with strong walkability
Public listing data shows a Walk Score of 95 and Transit Score of 56
Located near University Ave / 42nd St transit access
Central San Diego location with access to freeways, SDSU, shopping, public transportation, and major employment/military demand drivers
San Diego remains a high-barrier, housing-constrained market with long-term rental demand
The surrounding City Heights / 92105 area has ongoing residential, affordable housing, infrastructure, and commercial investment activity
ADU / Development Angle:
This may be a fit for an investor looking for a longer-term ADU or infill value-add play. San Diego’s ADU framework, especially in Transit Priority Areas, can be attractive for investors pursuing additional units, income growth, and long-term density upside.
Buyer must independently verify all zoning, ADU feasibility, Transit Priority Area status, density, setbacks, lot coverage, utility capacity, fire access, parking requirements, permitting requirements, and development assumptions with the City of San Diego and licensed professionals.
Potential Fit For:
Buy-and-hold investor
1031 exchange buyer
Small multifamily investor
House hacker looking for a 2–4 unit property
ADU/value-add investor
Investor seeking central San Diego rental exposure
Available for qualified buyers:
Rent roll
Lease details
Photos
Expense information
Electrical documentation
Public listing details
Broker-led showing and offer process
Seller is open to serious investor offers, including clean as-is/cash offers and qualified financed offers.
This is not a wholesale assignment. The property is seller-owned and broker-listed. All formal documents, access, and offers will be coordinated through the listing broker.
Serious buyers only. Proof of funds or lender verification may be requested before detailed documents or access are provided.
This is a broker-represented sale. Serious buyers can contact the listing broker directly or message me for connection.
Broker: Marcus Minter DRE #01189363
Brokerage: Minter Realty Group
Email: [email protected]