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

    3150-52 New Jersey Ave Lemon Grove, CA 91945

    Sponsored
    For Sale
    $985,000

    MULTI_FAMILY - Lemon Grove, CA

    Property size:
    2,337 SF
    Lot size:
    0.16 Acres
    Days on Market:
    2
    Last Refresh:
    Feb 19 at 12:06 pm

    Property Features for 3150-52 New Jersey Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    R-2:MINOR
    Rooms
    Bedroom 4, Bathroom 1, Bedroom 2, Bathroom 3, Bathroom 4, Bedroom 6, Bedroom 1, Bedroom 3, Bathroom 2, Bedroom 5
    Bedrooms
    6
    Bathrooms
    4
    APN
    480-150-24-00
    Size
    2,337 SF
    Lot size
    0.16 Acres

    Building Details

    Year built
    1962
    Floors in Building
    1
    Number of units
    2
    Roof type
    Rolled Hot Mop, Composition

    We can help!

    Listing Contact
    John M Lieber

    Jaysen Brown Realty (619) 922-1936

    Listing agent John M Lieber (619) 736-1000 License #01825624

    Listing date Feb 18, 2026

    MLS# 260003856 Listing URL

    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

    Two Detached Homes in Lemon

    This property features two detached homes. The first unit, located at 3150 New Jersey Ave, is a 2-bedroom, 2-bathroom home with 900 square feet of interior space and a private front yard. It has been updated with new paint and flooring. The floorplan features bedrooms on opposite sides of the house and an interior laundry room. The second unit, located at 3152 New Jersey Ave, is a 3-bedroom (with an optional 4th bedroom), 2-bathroom home with 1437 square feet of living space and an additional 431 square feet of covered patio space, plus a private backyard. The interior has been completely remodeled with a kitchen, bathrooms, LVP flooring, windows, and doors. Both units are single-level and include their own laundry. The property is situated on a 0.16-acre lot and includes a large circular driveway for parking. The property is zoned R-2:MINOR. This property is located in Lemon Grove, CA, and is suitable for either an owner/user or investor.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Lemon Grove
    County
    San Diego
    State
    California
    Longitude
    -117.036638
    Latitude
    32.739466

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    FAQs

    What type of property is this?
    Duplex - Two single-level homes, updated interiors, great for owner/user or investor.
    Where is this duplex located?
    The property is located at 3150-52 New Jersey Ave Lemon Grove, CA.
    What is the asking price?
    The asking price for this property is $985,000.
    What are key features of this property?
    This property features: - Two detached single-level homes on one property, ideal for owner-user or investor.; - Unit 3152 is completely remodeled with a new kitchen, bathrooms, LVP flooring, windows, and doors.; - Unit 3152 features a 3 bed (with optional 4th bedroom), 2 bath layout with 1437 sf of living space and a **431 sf covered patio**.
    (619) 922-1000
    Request Owner's contact information
    3150-52 New Jersey Ave Lemon Grove, CA 91945
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    Lemon Grove, CA 91945
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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
    3150-52 New Jersey Ave Lemon Grove, CA 91945
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    We can help!
    Listing Contact
    John M Lieber
    Real Estate License ID: 01825624
    (619) 922-1000 (619) 736-1000
    Learn more
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