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    The Largest CRE Database in the US with Over 1 Million Listings

    2679-83 Tern Dr San Diego, CA 92123

    Sponsored
    For Sale
    $1,350,000

    MULTI_FAMILY - San Diego, CA

    Property size:
    1,675 SF
    Lot size:
    0.16 Acres
    Days on Market:
    1
    Last Refresh:
    Jan 29 at 9:06 am

    Property Features for 2679-83 Tern Dr

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    R-1:SINGLE
    Rooms
    Bathroom 4, Bedroom 3, Bathroom 3, Bathroom 2, Bedroom 2, Bedroom 1, Bathroom 1
    Bedrooms
    3
    Bathrooms
    4
    APN
    677-023-01-00
    Size
    1,675 SF
    Lot size
    0.16 Acres

    Utilities

    Heating system
    Gravity
    Cooling system
    Zoned

    Building Details

    Year built
    1958
    Floors in Building
    2
    Number of units
    3
    Roof type
    Composition

    We can help!

    Listing Contact
    Joseph Caltabellotta

    Buy Sell Rent San Diego (619) 825-1974

    Listing agent Joseph Caltabellotta (619) 825-1974 License #01123099

    Listing date Jan 29, 2026

    MLS# 260002145

    Copyright © 2026 San Diego MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Multifamily Property in Prime Location

    This multifamily property is located in a prime Birdland location on a quiet street. It features two secluded Accessory Dwelling Units (ADU) plus a main house. The upstairs unit, located at 2679 Tern Dr, is a large studio and currently rents for $1950 per month. The back unit, located at 2683 Tern Dr, is a studio and rents for $1600 per month. The main house, located at 2681 Tern Dr, is currently vacant with a projected rent of $3500-$3800 per month. The garage has rented for $250 per month in the past but is currently vacant. The property has a newer roof and drain lines replaced with ABS all the way to the street. It features a raised foundation with crawl space, vinyl windows, central A/C, and zoned climate control. There are three separate, private entrances and electrical meters. The rear ADU has a separate, fenced yard and patio. The main house has a large private yard, separate from the ADUs, with room for a pool. There are three separate laundry locations. Upgraded concrete flatwork and refinished hardwood floors in the main house. The front yard is nicely landscaped with drought-tolerant succulents and St. Augustine grass, and features exotic palms. There is plenty of neighborhood parking, plus a 2-car garage and driveway. The property is close to Sharp Hospital and Mission Valley. The lot size is 0.16 acres and the property size is 1675 square feet. The zoning is R-1: Single.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    San Diego
    County
    San Diego
    State
    California
    Longitude
    -117.156241
    Latitude
    32.78992

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    FAQs

    What type of property is this?
    Multifamily property - Multifamily property with ADU units in a prime location.
    Where is this multifamily property located?
    The property is located at 2679-83 Tern Dr San Diego, CA.
    What is the asking price?
    The asking price for this property is $1,350,000.
    What are key features of this property?
    This property features: - Income Potential: Two existing ADU units provide immediate rental income.; - Prime Location: Situated in the desirable Birdland area on a quiet street, close to Sharp Hospital and Mission Valley.; - Multiple Units: Features a main house plus two separate ADU units, each with private entrances and electrical meters.
    (619) 825-1974
    Request Owner's contact information
    2679-83 Tern Dr San Diego, CA 92123
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    San Diego, CA 92123
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2679-83 Tern Dr San Diego, CA 92123
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    We can help!
    Listing Contact
    Joseph Caltabellotta
    Real Estate License ID: 01123099
    (619) 825-1974
    Learn more
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