4204-4208 40th St, San Diego, CA, 92105
About This Home
Rare 4-unit investment opportunity across from Teralta Park offering strong in-place income and long-term upside. Corner lot property featuring two original studio units and two newly constructed ADUs (4208) completed in 2024 with final sign-off—both currently leased. Unit mix includes two studios and two 1-bedroom units (approx. 320–448 sq ft), providing a diversified rental profile. Total current gross income of $6,775/month, including $625/month from a Clear Channel billboard lease. Property includes 4 separate meters for clean utility separation and operational efficiency. One unit has been recently updated, with additional value-add potential in the remaining original units. Commercial zoning offers potential future redevelopment opportunities (buyer to verify with City). Centrally located in a high-demand rental area with convenient access to freeways, public transit, and local amenities. Ideal for investors seeking a blend of stabilized income, new construction, and upside potential. Do not disturb tenants.
Getting Around
Very Walkable
Good Transit
BikeableSchools
Construction
Condition
- Year built: 1936
Materials
- Roof: Composition,Rolled/Hot Mop
- Construction materials: Stucco,Wood
Type & Style
- Home type: MultiFamily
- Property subType: Multi Family
Interior
Bedrooms & Bathrooms
- Bedrooms: 2
- Bathrooms: 4
- Full bathrooms: 4
Cooling
- Cooling features: Heat Pump(s)
Interior Area
- Total structure area: 1,514
Property
Details
- Parcel number: 4472801800
- Zoning: COMMERCIAL
- Zoning description: COMMERCIAL
Features
- Levels: 1 Story
- Fencing: Gate,Partial
Lot
- Lot size: 2,613 sqft
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Earthquake
- Heat Wave
- Wildfire
How This Home’s Risks Compare
FEMA Declared Disasters in San Diego County and California
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $5,456 | $65,472 |
| Home Insurance * | $165 | $1,980 |
| Property Taxes | $602 | $7,224 |
| Electricity | $398 | $4,786 |
| Total | $6,621 | $79,452 |
Income You'd Need if You Spent...
California FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
Median Price Per Square Foot
The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.
Historicals for This Listing
Zestimate History ($/sqft)
Price History
| Date | Event | Price |
|---|---|---|
| 2026-05-13 | Listed for sale | $1,095,000 |
| 2026-05-13 | Listing removed | $1,195,000 |
| 2026-04-21 | Listed for sale | $1,195,000 |
| 2025-08-13 | Listing removed | $1,049,900 |
| 2025-01-14 | Listed for sale | $1,049,900 |
| 2025-01-13 | Listing removed | $1,074,900 |
| 2024-12-26 | Listed for sale | $1,074,900 |
| 2024-12-14 | Pending sale | $1,074,900 |
| 2024-12-10 | Listed for sale | $1,074,900 |
| 2024-10-25 | Listing removed | $1,075,000 |
| 2024-10-25 | Price change | $1,075,000 |
| 2024-10-19 | Listed for sale | $1,095,000 |
| 2024-10-18 | Listing removed | $1,099,000 |
| 2024-10-08 | Listed for sale | $1,099,000 |
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