About 4204-4208 40th St
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.
Features of 4204-4208 40th St
| MLS® # | 260020516 |
|---|---|
| Price | $999,000 |
| Bedrooms | 2 |
| Bathrooms | 4.00 |
| Full Baths | 4 |
| Acres | 0.06 |
| Year Built | 1936 |
| Type | Residential Income |
| Sub-Type | Res Income 2-4 Units |
| Status | Active |
Community Information
| Address | 4204-4208 40th St |
|---|---|
| Area | EAST SAN DIEGO (92105) |
| Subdivision | City Heights |
| City | SAN DIEGO |
| County | San Diego |
| State | CA |
| Zip Code | 92105 |
Amenities
| Is Waterfront | No |
|---|---|
| Has Pool | Yes |
Interior
| Cooling | Heat Pump(s) |
|---|---|
| Fireplace | Yes |
| Stories | 1 Story |
Exterior
| Lot Description | Corner Lot,Sidewalks |
|---|---|
| Roof | Composition,Rolled/Hot Mop |
| Construction | Stucco,Wood |
School Information
| District | San Diego Unified School Distric |
|---|
Additional Information
| Date Listed | August 20th, 2026 |
|---|---|
| Days on Market | 1 |
| Zoning | COMMERCIAL |
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Office | Atkin Homes Corp. |
|---|---|
| Contact Info | nick@atkinhomes.com |