5-Unit Apartment
For Sale
$1,450,000
1014 20 N 47th St, San Diego, CA 92102
Multifamily property with dedicated garages, owned laundry facilities, and month-to-month tenancy.
Property Size3,345 SF
Days on Market15
Property Features for 1014 20 N 47th St
General Information
Standard status
Active
Size
3,345 SF
Property subtype
Investment
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
5
Amenities
on-site garages
on-site laundry
Building Details
Building Size
3,345 SF
Year Built
1961
Units
5
Listing Agency:
RAF Investment Services Inc.
Listed By:
Sarita Rivers-Fajardo
(619) 215-6431
Source:
Elliman
Added: Sep 20
Changed: Oct 3
Last Checked: Oct 4 at 11:40AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RAF Investment Services Inc.
Investment Insights
Based on property information with market context.
This 5-unit apartment property in San Diego was built in 1961 and includes residential units supported by dedicated on-site garages. The garage spaces provide vehicle parking or storage associated with the property. Owned laundry facilities are also located on site.
All units are leased on a month-to-month basis, providing a flexible existing tenancy structure. The property has access to major San Diego freeways and public transit. Its walkability and transportation profile are reflected in a Walk Score of 79, a Transit Score of 59, and a Bike Score of 46.
All units are leased on a month-to-month basis, providing a flexible existing tenancy structure. The property has access to major San Diego freeways and public transit. Its walkability and transportation profile are reflected in a Walk Score of 79, a Transit Score of 59, and a Bike Score of 46.
Key Highlights
- 5 residential units
- Built in 1961
- All units are leased month to month
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
$55,286
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
3.81%
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%
$1,105,720
$1.1M
Cap Rate 7%
$789,800
$789.8K
Cap Rate 9%
$614,289
$614.3K
Market Conditions
NOI Build-Up for 3,345 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
$106.4K $31.80/SF
− Vacancy
−$5.9K −$1.75/SF
EGI
$100.5K $30.05/SF
− OpEx
−$45.2K −$13.52/SF
NOI
$55.3K $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%
$1,105,720
Cap Rate 7%
$789,800
Cap Rate 9%
$614,289
Alternative Uses
Best Use
Apartment 5plus
$789.8K
$691.1K – $921.4K
NOI $55,286 @ 7.0% cap · market cap 3.81%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.32M
$1.16M – $1.54M
NOI $92,483 @ 7.0% cap · market cap 6.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
5
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
724
Businesses Nearby
Explore this area
Business Placement
Demographics for 92102, CA
39,783
Population
15,622
Households
2.5
Avg Household Size
34
Median Age
29%
College-Educated
80%
High-School Grad
4.5 sq mi
ZIP Area
8,841
Density / Sq Mi
$71,319
Median Household Income
$40,142
Median Earnings
$1,855
Median Rent
$646,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Apartment building - Multifamily property with dedicated garages, owned laundry facilities, and month-to-month tenancy.
Where is this apartment building located?
The property is located at 1014 20 N 47th St San Diego, CA.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: 5 residential units; Built in 1961; All units are leased month to month
