Remodeled Duplex with New
New
For Sale
$1,310,000
4024-4026 college ave, San Diego, CA 92115
MULTI_FAMILY - San Diego, CA
Property Size2,472 SF
Price / SF$529.94
Days on Market1
Property Features for 4024-4026 college ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bathroom 3, Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 3, Bathroom 4, Bedroom 1, Bedroom 5
Exterior features
Public Street, Sidewalks, Street Paved
Subdivision
SAN DIEGO
Directions
GPS
Standard status
Active
APN
473-302-09-00
Size
2,472 SF
Utilities
Heating system
Forced Air
Cooling system
Central Air, Wall/Window Unit(s)
Building Details
Year built
1951
Floors in Building
2
Number of units
2
Roof type
Composition, Tile
Listing Agency:
JP Real Estate & Mortgage Inc.
(619) 324-9444
Listed By:
Davis Duong · License #01923197
(858) 380-7530
Added: Aug 13
Last Checked: Aug 13 at 7:06AM
MLS# 260019781
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 2,472-square-foot duplex includes two three-bedroom, two-bathroom homes. The front residence has been remodeled and includes an attached 2-car garage, while the new ADU features paid-off solar. A large driveway adds parking, and the property includes forced-air heating, wall/window unit(s), and central air.
Positioned at 4024-4026 College Ave in San Diego, the property offers access to public transportation serving SDSU and is near Freeway 94. Schools, shopping, dining, Walmart Supercenter, Target, Sam's Club, and the post office are also identified in the surrounding area. Built in 1951, the property has composition and tile roofing.
Positioned at 4024-4026 College Ave in San Diego, the property offers access to public transportation serving SDSU and is near Freeway 94. Schools, shopping, dining, Walmart Supercenter, Target, Sam's Club, and the post office are also identified in the surrounding area. Built in 1951, the property has composition and tile roofing.
Key Highlights
- Two 3‑bedroom, 2‑bathroom homes totaling 6 bedrooms
- 2,472 square feet on 4024‑4026 College Ave
- Remodeled front home with attached 2‑car garage
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
$44,282
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
3.38%
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%
$885,640
$885.6K
Cap Rate 7%
$632,600
$632.6K
Cap Rate 9%
$492,022
$492.0K
Market Conditions
NOI Build-Up for 2,472 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
$66.7K $27.00/SF
− Vacancy
−$3.5K −$1.41/SF
EGI
$63.3K $25.59/SF
− OpEx
−$19.0K −$7.68/SF
NOI
$44.3K $17.91/SF
Area
San Diego, CA
Vacancy
5.22%
Lease Rate
$27.00 /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%
$885,640
Cap Rate 7%
$632,600
Cap Rate 9%
$492,022
Alternative Uses
Best Use
Multifamily LT 5
$632.6K
$553.5K – $738.0K
NOI $44,282 @ 7.0% cap · market cap 3.38%
Second Best
Apartment 5plus
$583.7K
$510.7K – $681.0K
NOI $40,857 @ 7.0% cap · market cap 3.12%
Theoretical Best
Specialty Retail
$976.4K
$854.3K – $1.14M
NOI $68,346 @ 7.0% cap · market cap 5.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
672
Businesses Nearby
Explore this area
Business Placement
Demographics for 92115, CA
64,251
Population
23,448
Households
2.7
Avg Household Size
30
Median Age
39%
College-Educated
87%
High-School Grad
6.2 sq mi
ZIP Area
10,363
Density / Sq Mi
$75,178
Median Household Income
$36,061
Median Earnings
$1,875
Median Rent
$722,500
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?
Duplex - Two three-bedroom homes provide flexible occupancy and rental-use options near SDSU.
Where is this duplex located?
The property is located at 4024-4026 college ave San Diego, CA.
What is the asking price?
The asking price for this property is $1,310,000.
What are key features of this property?
This property features: Two 3‑bedroom, 2‑bathroom homes totaling 6 bedrooms; 2,472 square feet on 4024‑4026 College Ave; Remodeled front home with attached 2‑car garage
