
San Diego, California 92105
This Duplex Multifamily Asset is a Strong Value Opportunity, listed at $1,100,000—positioned well below the $1,107,749 Fair Market Value by 0.7%. Featuring owned solar, new central AC, and private yards, the property maintains a Condition Rating of 4. While the interior offers room for cosmetic value-add, the stable $6,000 monthly income provides immediate cash flow. With proximity to McKinley Elementary (9/10), this is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a high-offset mortgage strategy in a central San Diego location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 3313 15 38th Street Subject 0 bd · 0 ba · 2,028 sqft · $546 | $1,100,000* List Price | 0 | 0 | 2,028 | $546 | - |
A 4220 24 Poplar Street Sold 0 bd · 0 ba · 2,016 sqft · $464 · 0.5 mi | $935,000 | 0 | 0 | 2,016 | $464 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1978, the property is dated with original-style cabinetry, tile flooring, and popcorn ceilings. While it features significant recent system upgrades including new central AC, windows, and owned solar, the interior finishes and kitchens require cosmetic updates to meet modern standards.
Elementary School: McKinley Elementary School (9/10).
The property features significant recent capital improvements including new central air conditioning, windows, and owned solar panels, which enhance energy efficiency and reduce long-term maintenance costs.
Rare for a multifamily asset, each unit is equipped with its own two-car garage, private driveway, and dedicated yard, providing the privacy and utility of a single-family home.
The majority of the immediate neighborhood's public middle and high schools have low performance ratings, which may deter long-term family-oriented tenants.
While one unit features modern updates and new appliances, the other unit may require additional capital investment to achieve the same market-leading rental rate.
Lee & Associates | North San Diego County | The Von Bluecher Group is pleased to present 38th Street Duplex, a 2-unit multifamily investment opportunity located at 3313-15 38th Street in San Diego, California. Situated on an approximately 7,538 square foot lot, the property consists of one single-story residential building totaling approximately 2,028 square feet and features a unit mix of (2) two-bedroom/one-and-a-half-bath units, each approximately 1,014 square feet. The property offers investors an opportunity to acquire a well-located San Diego duplex with stable in-place income, private yards, substantial parking, and several recent property improvements. Each unit includes a two-car garage, driveway, private yard, laundry hookups, and access to owned solar. The property was tented for termite treatment and received a complete exterior repaint in 2022. In Unit 3313 the following improvements include new appliances, windows, & upgraded A/C system. Both units have received new garage doors for both units. The property currently generates approximately $6,000 in scheduled monthly rental income, providing a strong income base for an investor, owner-user, or multigenerational buyer. The two-unit configuration also offers operational simplicity and flexibility. The property's two-car garages create an attractive opportunity for future upside, with potential to explore ADU conversion or other permitted living space. This added flexibility could support future rental income, extended-family accommodations, or enhanced owner-user functionality. Buyer to verify all zoning, permitting, parking, and conversion requirements. Located in the heart of the City Heights / Colina Del Sol submarket, the property benefits from convenient access to Interstate 15, Interstate 805, Downtown San Diego, Mission Valley, North Park, Balboa Park, and major employment centers throughout the region. The surrounding neighborhood continues to experience strong rental demand driven by its central location, affordability relative to coastal submarkets, and ongoing community reinvestment. With its spacious two-bedroom units, private outdoor areas, two-car garages, driveways, owned solar, and recent improvements, 38th Street Duplex presents an opportunity to acquire a well-located multifamily asset with current income and long-term appreciation potential. Buyer to verify all property information, including but not limited to square footage, lot size, unit count, unit mix, utility metering, permits, financial information, rental information, and all other material aspects of the property.
No exterior & parking available.
Grades K-5 • 0.5 mi
Grades K-5 • 0.5 mi
Grades K-5 • 0.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 3.9 |
| Baths | 0.0 | 3.1 |
| Square foot | 2,028 | 1,907.722 |
| Lot Size | 7,538 | 6,135.853 |
| Price | $1.10M | $1.09M |
| Price per sq ft | $542 | $597 |
| Built year | 1978 | 1971 |
| HOA | $0 | $365 |
| Days on market | 41 | 62 |
Sep 14, 2026
$1,100,000
Initial Listing
Apr 5, 2022
$837,500
Public Record
Feb 5, 2001
$195,000
Public Record