R-4 Multifamily Residential Income
For Sale
$1,000,000
Pending
2949-55 Logan Avenue, San Diego, CA 92113
MULTI_FAMILY - San Diego, CA
Property Size3,900 SF
Lot Size0.16 Acres
Days on Market199
Property Features for 2949-55 Logan Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-4:MULTIPLE RESIDENTIAL
Bedrooms
10
Bathrooms
7
Full bathrooms
6
Half bathrooms
1
Rooms
Bedroom 10, Bathroom 1, Bathroom 7, Bedroom 8, Bedroom 9, Bathroom 4, Basement, Bedroom 7, Bathroom 5, Bedroom 2, Bathroom 3, Bedroom 1, Bedroom 3, Bedroom 4, Bedroom 5, Bathroom 6, Bedroom 6, Bathroom 2
Lot features
0-1 Unit/ Acre
Elementary school district
San Diego Unified
Middle school district
San Diego Unified
High school district
San Diego Unified
Directions
Exit national ave from 5 fwy.. s. 29th then Logan Ave
Subdivision
92113 - Logan Heights
Standard status
Pending
APN
5500221000
Size
3,900 SF
Lot size
0.16 Acres
Building Details
Year built
1940
Floors in Building
2
Listing Agency:
Coldwell Banker West · Coldwell Banker Real Estate
(619) 271-9500
Listed By:
Liz Garcia · License #01737986
(619) 737-2126
Added: Jan 26
Changed: Aug 12
Last Checked: Aug 13 at 3:06AM
MLS# PTP2603021
Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Offered for sale, this multifamily residential income property is located at 2949-55 Logan Avenue in San Diego. The property is zoned R-4:MULTIPLE RESIDENTIAL and sits on an approximately 0.1604-acre lot, with an overall property size of about 3,900 square feet.
Because the listing does not provide a unit breakdown or interior configuration details, interested parties are encouraged to review the available materials and confirm operating and layout specifics during due diligence.
Because the listing does not provide a unit breakdown or interior configuration details, interested parties are encouraged to review the available materials and confirm operating and layout specifics during due diligence.
Key Highlights
- Year built 1940
- Includes 10 bedrooms (Bedroom 1 through Bedroom 10)
- Includes 7 bathrooms (Bathroom 1 through Bathroom 7)
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$64,459
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.45%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,289,180
$1.3M
Cap Rate 7%
$920,843
$920.8K
Cap Rate 9%
$716,211
$716.2K
Market Conditions
NOI Build-Up for 3,900 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$124.0K $31.80/SF
− Vacancy
−$6.8K −$1.75/SF
EGI
$117.2K $30.05/SF
− OpEx
−$52.7K −$13.52/SF
NOI
$64.5K $16.53/SF
Area
San Diego, CA
Vacancy
5.50%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,289,180
Cap Rate 7%
$920,843
Cap Rate 9%
$716,211
Alternative Uses
Best Use
Apartment 5plus
$920.8K
$805.7K – $1.07M
NOI $64,459 @ 7.0% cap · market cap 6.45%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.54M
$1.35M – $1.80M
NOI $107,827 @ 7.0% cap · market cap 10.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,125
Businesses Nearby
Explore this area
Business Placement
Demographics for 92113, CA
50,457
Population
14,443
Households
3.5
Avg Household Size
32
Median Age
11%
College-Educated
69%
High-School Grad
4.5 sq mi
ZIP Area
11,213
Density / Sq Mi
$59,177
Median Household Income
$31,099
Median Earnings
$1,608
Median Rent
$559,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Multifamily property in San Diego zoned R-4:MULTIPLE RESIDENTIAL, offered for sale at 2949-55 Logan Avenue.
Where is this multifamily property located?
The property is located at 2949-55 Logan Avenue San Diego, CA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Year built 1940; Includes 10 bedrooms (Bedroom 1 through Bedroom 10); Includes 7 bathrooms (Bathroom 1 through Bathroom 7)
