1525 42nd Street
Btop 30% of multifamilySan Diego, CA 92113
One license per person in San Diego: whether you can hold it depends on you, not only the home.
14 licensed short-term rentals within ½ mile (9 whole home), from the cities' license and permit lists of Nov 13, 2026.
Pass at asking: -$2,156/mo full cashflow at 20% down, 7.36% rate.
Works at $482,799 (37% under asking), or at 61% down.
Rent $4,792/mo: 2 units of about 627 sqft, each priced from up to 16 closed leases within 1 mi ($3,998–$5,448).
Beds
—
Baths
—
Sqft
1,254
Year Built
1940
Days on Market
99
Property Type
Multi-Family
HOA/mo
N/A
MLS ID
NDP2607359
This property is in San Diego (92113). Browse neighborhood analytics →
About This Property
Detached two-unit duplex in San Diego's Shelltown neighborhood, offering a straightforward value-add opportunity for the right buyer. The property includes a 2 bedroom, 1 bath unit and a 1 bedroom, 1 bath unit on a 5,927 SF lot, zoned CN-1-3. Current income sits well below market rent, giving a new owner meaningful upside through rent growth alone, with no rezoning or redevelopment required. The site's zoning also suggests potential capacity for a third unit, subject to City verification of parking, setbacks, and other development standards, along with flexibility for small-scale, neighborhood-serving commercial use. Located less than five miles from Downtown San Diego, with easy access to I-5, the San Diego Trolley Blue Line, and the Route 929 bus. Detached two-unit product like this is increasingly hard to find in this corridor. A full video and photography marketing package, including additional photos, rent roll detail, and property information, is available for interested parties. Contact Ivan Del Muro-Garcia at 619.623.2132 or idmg@lee-associates.com for offering details, or to see what else is currently available in San Diego multifamily. Buyer to independently verify all information including square footage, zoning, year built, and development potential.
Small multifamily · 2 units
Valued on income: each unit priced from closed leases nearby, then added up. County records: 2 units.
| Unit | Units | Rent each | Subtotal |
|---|---|---|---|
| Average unit~627 sqft · 16 leases within 1 mi | 2 | $2,396 | $4,792 |
| Gross rent, all units | $4,792/mo | ||
The listing describes 1 × 2-bed, 1 × 1-bed. Units of different sizes are priced as the average unit: by bed count alone, unit rents ran 17% off in our backtest.
- Gross rent multiplier
- 13.3
- Price per unit
- $382,500
- NOI (a year)
- $27,647
- Cap rate
- 3.61%
Price ÷ a year's gross rent
Median $399,667 across 5 listed 2–4 unit buildings in 92113
Default vacancy, management, upkeep, tax, insurance
Its grade compares it with other multifamily listings only: a building valued on income isn't ranked against houses and condos.
House hack with FHA
Live in the one unit, rent the other 1.
- Down payment
- $26,775
- Your cost to live there
- $5,295/mo
- More than renting it
- $2,899/mo
3.5% · plus closing costs
After $2,396/mo from the other unit
vs $2,396/mo to rent the same unit
How this is figured
- Loan $751,144 ($738,225 + 1.75% upfront mortgage insurance) at 7.11% (Freddie Mac 30-year average, week of Nov 12, 2026), 30 years: $5,053/mo
- FHA mortgage insurance $461/mo · property tax $765/mo · insurance $223/mo
- Vacancy, management and capex on the rented units, upkeep on the building: $1,189/mo
- FHA allows 3.5% down on 2–4 units when you live in one, up to HUD's 2026 San Diego County limit for 2 units ($1,413,350). Lenders count only part of the other units' rent toward qualifying.
Compare other buildings on the small multifamily page.
Mortgage Calculator
Est. Monthly Payment
$5,209
Location
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Zoned Schools
Elementary
Chavez Elementary · grades PK-5 · San Diego Unified
Middle
Knox Middle · grades 6-8 · San Diego Unified
High
Lincoln High · grades 9-12 · San Diego Unified
The district's assigned schools for this parcel, from its attendance boundaries and rules. Boundaries change: confirm with the district before you buy.
Renovation math
Flagged Light Value-Add from the listing remarks — “value-add”.
- Asking now
- $765K
- Worth finished
- $947K
- Budget to renovate
- $182,195
$610/sqft
$755/sqft × 1,254 sqft
$145/sqft to spend
Comparable finished homes nearby suggest this is worth $947K once it's brought to par — about $182,195 above the asking price. That spread is your renovation budget before the deal stops working.
Rent once renovated
- Rent at par
- $5,135/mo
- Cashflow at that rent
- −$1,892/mo
$4.09/sqft × 1,254 sqft, median of 4 comps
cap rate 4.06%, DSCR 0.99
Buying at asking and achieving par rent, excluding the renovation spend itself. We don't publish a current-condition rent: no listing remark says how much work a home needs, and mid-renovation it earns nothing.
Based on 4 comparable homes of the same property type and size currently listed nearby — asking prices and modelled rents, not closed sales. A contractor's scope, not this page, decides what a renovation actually costs.
Comparable Properties
4 comps foundThis Property
$4,792
Comp Average
$5,835
4146 Delta Street
6bd / 3.5ba · 1,495 sqft · Duplex
$970K
Est. $5,376/mo
3964 Delta Street
1,558 sqft · Multi-Family
$1.15M
Est. $6,756/mo
1702 Una Street
1,200 sqft · Multi-Family
$989K
Est. $5,116/mo
4240 Gamma Street
1,552 sqft · Multi-Family
$1.20M
Est. $6,093/mo
Comps based on same zip code, similar beds (±1), price range (60-150%).
This is a 2-unit building: on the mid-term and short-term tabs, enter the rent, nightly rate and occupancy for all units combined.
Investment Score
2 units of about 627 sqft, each priced from up to 16 closed leases within 1 mi · $3,998–$5,448
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$2,156/mo short at 20% down; 61% down or +$2,800/mo rent closes it.
- Break-even price
- $482,799
- Break-even rent
- $7,592/mo
- Cashflow at 35% down
- −$1,365/mo
- Down payment to break even
- 61%
- Rate to break even
- 1.34%
37% under asking
$2,800/mo above the estimate
$466,650 cash
at 20% down
Need ≥ 1.25 for DSCR loan
Lower = better for investors
* Modelled at 20% down, 7.36% rate, 30yr · vacancy 8% · PM 10% · capex 5% · maintenance 1%/yr.
Estimates only. Not financial advice. Verify all figures independently with a licensed professional before making any investment decision.
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