Triplex With Off-Street
New
For Sale
$999,000
3517 Central Ave., San Diego, CA 92105
Residential Income, San Diego, CA
Property Size3,050 SF
Lot Size0.16 Acres
Price / SF$327.54
Days on Market5
Property Features for 3517 Central Ave.
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-2:MINOR
Bedrooms
7
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bathroom 4, Bathroom 2, Bedroom 6, Bedroom 5, Bedroom 7, Bedroom 3, Bedroom 1, Bedroom 4, Bathroom 1, Bedroom 2
Subdivision
CITY HEIGHTS
Standard status
Active
APN
454-241-16-00
Size
3,050 SF
Lot size
0.16 Acres
Amenities
fenced in front yard
fenced in back yard
alley access
Building Details
Year built
1955
Floors in Building
2
Number of units
3
Roof type
Composition
Listing Agency:
Keller Williams San Diego Metro · Keller Williams Realty
(619) 233-5935
Listed By:
Beau Trickey · License #01473230
(858) 334-3019
Added: Sep 3
Changed: Sep 5
Last Checked: Sep 7 at 2:06PM
MLS# 260021651
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.
Investment Insights
Based on property information with market context.
This 3,050-square-foot triplex, built in 1955, contains three separate residences on a 0.1607-acre parcel. The unit mix includes a front residence with three bedrooms and one bathroom, a middle residence with two bedrooms and two bathrooms, and an upper residence with two bedrooms and one bathroom. Fenced outdoor areas serve the front and middle units, while off-street parking is provided for all three residences. The property has a composition roof and is zoned R-2:MINOR.
Located at 3517 Central Ave. in San Diego, the property provides alley access and convenient connections to shopping, dining, and highways. Current rental income is in place, with the property also presented as a renovation opportunity. Each unit contributes to the overall seven-bedroom, four-bathroom configuration.
Located at 3517 Central Ave. in San Diego, the property provides alley access and convenient connections to shopping, dining, and highways. Current rental income is in place, with the property also presented as a renovation opportunity. Each unit contributes to the overall seven-bedroom, four-bathroom configuration.
Key Highlights
- Three‑unit property with 3,050 square feet of living space
- Unit mix: 3 bed/1 bath, 2 bed/2 bath, and 2 bed/1 bath
- Seven total bedrooms and four bathrooms
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
$61,921
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
6.20%
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%
$1,238,420
$1.2M
Cap Rate 7%
$884,586
$884.6K
Cap Rate 9%
$688,011
$688.0K
Market Conditions
NOI Build-Up for 3,050 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
$93.3K $30.60/SF
− Vacancy
−$4.9K −$1.60/SF
EGI
$88.5K $29.00/SF
− OpEx
−$26.5K −$8.70/SF
NOI
$61.9K $20.30/SF
Area
ZIP 92105
Vacancy
5.22%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
30.00%
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%
$1,238,420
Cap Rate 7%
$884,586
Cap Rate 9%
$688,011
Alternative Uses
Best Use
Multifamily LT 5
$884.6K
$774.0K – $1.03M
NOI $61,921 @ 7.0% cap · market cap 6.20%
Second Best
Apartment 5plus
$815.3K
$713.4K – $951.2K
NOI $57,069 @ 7.0% cap · market cap 5.71%
Theoretical Best
Specialty Retail
$1.20M
$1.05M – $1.41M
NOI $84,326 @ 7.0% cap · market cap 8.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,219
Businesses Nearby
Explore this area
Business Placement
Demographics for 92105, CA
66,579
Population
23,862
Households
2.8
Avg Household Size
34
Median Age
21%
College-Educated
71%
High-School Grad
5.8 sq mi
ZIP Area
11,479
Density / Sq Mi
$65,174
Median Household Income
$34,469
Median Earnings
$1,687
Median Rent
$593,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three residential units include private fenced outdoor areas, alley access, and current rental income.
Where is this triplex located?
The property is located at 3517 Central Ave. San Diego, CA.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Three‑unit property with 3,050 square feet of living space; Unit mix: 3 bed/1 bath, 2 bed/2 bath, and 2 bed/1 bath; Seven total bedrooms and four bathrooms
