21 33 S 35th Street
San Diego, CA 92113
- – beds
- – baths
- – sqft
- 14,521 sqft lot
- 1960 build
- – on site
We are pleased to present the opportunity to acquire a high-yield, mostly renovated, low-density, double-lot multifamily asset with a detached 3 bed / 2 bath house in Central San Diego. 21-33 S. 35th Street was originally constructed in 1960, with 9 of the 10 units renovated in 2022, including the buildout of the two ADUs. The asset consists of 5 buildings: a detached 3 Bed/ 2 Bath house, a 1 Bed / 1 Bath detached cottage, a quadplex of (4) 1 Bed / 1 Bath units, a duplex of (2) studios, and a duplex of (2) 2022-completion studio ADUs. All but two units have mid-sized private yards, helping to drive longer-term occupancy and higher rents. The property is well parked, with 13 off-street parking spaces for the 10 units, providing over 1 parking space per bedroom. The asset is centrally located in Logan Heights, providing quick access to Downtown San Diego, Coronado Island, Balboa Park, North Park, South Park, and the San Diego Navy Base, airport, and bay—all within a 10-minute drive. Select units possess views of the Downtown San Diego skyline and the Coronado Bridge. 21-33 S. 35th Street offers strong in-place financial metrics at $206,940 gross scheduled annual income, with the immediately available rent increases yielding a 5.38% cap rate. Additionally, the existing rents are under market, allowing for further income potential with market gross income of $245,000 for a potential 6.80% cap rate.
Last checked:
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Last updated May 1, 2025
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MLS# PTP2502876 —
The Building
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Year Built:1960
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Building Area Total:4629.00
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Building Area Units:Square Feet
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Total Number Of Units:10
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# of Buildings:5
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Stories Total:2
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Entry Level:1
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Common Walls:2+ Common Walls
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# of Separate Gas Meters:9
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# of Separate Water Meters:1
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# of Separate Electric Meters:9
Interior
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Entry Location:street
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Fireplace:No
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Laundry:Common Area
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Laundry:1
Location
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Directions:GPS
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Latitude:32.70515300
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Longitude:-117.11857600
The Property
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Property Type:Residential Income
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Zoning:RM1-1
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Lot Features:11-15 Units/Acre
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Lot Size Area:14521.0000
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Lot Size Acres:0.3334
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Lot Size SqFt:14521.00
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Lot Size Source:Public Records
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Fence:No
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Property Attached:1
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Land Lease:No
Listing Agent
- Contact info:
- No listing contact info available
Taxes
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Tax Tract:363
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Tax Lot:546-136-02-00
The Listing
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Special Listing Conditions:Standard
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Parcel Number:5461360200
Heating & Cooling
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Cooling:No
Utilities
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Sewer:Public Sewer
Appliances
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Included:No
The Community
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Neighborhood:Logan Heights
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Features:Curbs
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Association:No
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Pool:None
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Senior Community:No
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Private Pool:No
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Assessments:Yes
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Assessments:Buyer to Verify
Parking
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Parking:No
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
4/22/25
Apr 22, 2025
|
Listed / Active | CRMLS_CA | $2,500,000 |
