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1936 40 Dale St

San Diego, CA 92102
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Bed 3

Bed

Bath 3

Bath

SqFt4,965

Sqft(Lot)

Exceptional South Park Triplex with Income Upside and Development Potential. Rare opportunity to acquire a beautifully maintained three-unit income property in one of San Diego's most desirable urban neighborhoods. Located in the heart of South Park, just blocks from Balboa Park, this unique property offers a compelling combination of current cash flow, future rental upside, development potential, and the charm that makes South Park one of San Diego's most sought-after communities. The property consists of three well-maintained 1-bedroom residential units in a tranquil garden-like setting. Mature landscaping, abundant greenery, and private outdoor living spaces create an environment that feels more like a collection of individual homes than a traditional income property. Each residence enj oys its own private patio area, providing tenants with valuable outdoor space and enhanced privacy.The units have been meticulously maintained, each with in-unit washer/dryers, dishwashers, tankless hot water heaters, and separately metered utilities paid directly by the tenants (owner currently pays water service only). The property currently generates approximately $103,000 in annual gross rental income, with estimated market rents supporting potential gross income of approximately $112,000 annually, offering investors potential upside opportunities. Notably adding to the property's appeal is a 400 sf detached two-car garage with ADU potential (currently not included for tenants’ use) with City-approved architectural plans for future use as an office/workspace. South Park continues to be one of San Diego's most vibrant and enduring neighborhoods, known for its walkability, historic character, independent restaurants, neighborhood cafes, local boutiques, and proximity to Balboa Park, downtown San Diego, and major employment centers. Properties offering this combination of location, condition, income stability, and future upside are increasingly rare. Whether seeking a long-term investment, a value-add opportunity, or a property with potential for future owner-user flexibility, this exceptional South Park triplex offers a unique opportunity in one of San Diego's premier rental markets.

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Detail Ic Property Details

Property Type : ResidentialIncome

Price : $1,795,000

AD Id : 79702887

MLS Id : 260013283SD

Beds : 3

Lot Size : 4,965 Sqft

Year Built : 1949

County : San Diego

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Feature Features

  • Interior Features

    Appliances: TanklessWaterHeater
  • Heating & Cooling

    Has Heating: Yes Heating: SeeRemarks Has Cooling: Yes Cooling: HeatPump

  • Building Information

    Year Built: 1949
    Stories: 1
    Private Pool: No

  • Lot Information

    Main Square Feet: 4965 Lot Size Acres: 0.114 Lot Size Source: Assessor Lot Size Square Feet: 4,965

  • Listing Price Information

    Listing Price: $1795000
    Cash, Conventional

  • Tax Information

    Parcel Number: 5392211600

  • Location Information

    Direction: Dale St. to Grape. CrossStreet: Grape
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
2442 46 F St, San Diego, CA, 92102 $2,900,000 6 6 3,921 7,096 Sqft
3153 55 G St, San Diego, CA, 92102 $1,475,000 7 4 -- --
1747 1749 Fern, San Diego, CA, 92102 $1,795,000 7 3 -- --
2442 46 F St, San Diego, CA, 92102 $2,900,000 6 6 -- 7,096 Sqft
4103 5 C Street, San Diego, CA, 92102 $1,270,000 8 4 -- 5,871 Sqft
4952 Fir St, San Diego, CA, 92102 $885,000 3 2 1,402 5,900 Sqft
4833 Date Street, San Diego, CA, 92102 $689,000 2 1 840 5,100 Sqft
1951 47th #129, San Diego, CA, 92102 $274,900 3 2 1,350 --
4746 Beech, San Diego, CA, 92102 $599,900 2 1 878 6,300 Sqft
Residentialincome, San Diego, CA, 92102 $1,450,000 -- -- -- 10,139 Sqft

The information being provided by Miami Association of REALTORS® is for the consumer's personal, non-commercial use. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the Miami Association of REALTORS®. The accuracy of all information is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by Miami Association of REALTORS® and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Copyright 2026 Miami Association of REALTORS®. All rights reserved.

ByOwner last updated this listing 09/03/2026 @ 01:15

MLS: 260013283SD LISTED BY: Ron Rooney, eXp Realty of California, Inc. 888-584-9427 SOURCE: CRMLS

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