3326 40th St 4 Unit Apartment Building $1,299,500 ($324,875/Unit) 5.59% Cap Rate San Diego, CA 92105

3326–28 & 3330–32 40th Street present a unique opportunity for an owner-user, investor, or flipper to acquire two contiguous duplexes on separate APNs in a centrally located San Diego neighborhood.
Each duplex features a 1,216 sq. ft. single-story structure comprised of two 2-bedroom / 1-bath units (approx. 608 sq. ft. each) with vaulted ceilings and private mid-size yards. One unit has been fully renovated and is move-in ready, offering immediate occupancy for an owner or solid rent potential for an investor. The properties feature lightly pitched roofs and raised foundations for easy maintenance, along with a total of 5 gas meters, 5 electric meters, and 1 water meter—with the additional gas and electric meters servicing the shared laundry room. There are 5 off-street parking spaces on site.
For investors or renovators, there’s clear upside potential. A savvy buyer could modernize the remaining three units and sell each duplex individually at an estimated ARV of $1,700,000–$1,750,000. To facilitate separate sales, a second water meter would need to be established.
Nestled in a quiet southwestern pocket of central San Diego known as Castle Park, the area is characterized by wide streets, single-family homes, and duplexes within the RS-1-7 zoning district. The location offers excellent accessibility to nearby retail, employment, and major freeways (I-15, I-805, I-8, and SR-94).
Residents enjoy proximity to many of San Diego’s key employment and lifestyle hubs, all within a 5–15 minute drive—including Downtown San Diego, North Park, Fashion Valley, Mission Valley, SDSU, USD, Naval Base San Diego, and Scripps Medical Center.