Well-Maintained Mobile Home in San
For Sale
$234,900
2950 Iris Ave 33, San Diego, CA 92154
2-bed, 2-bath mobile home in a quiet senior park.
Property Size1,140 SF
Lot Size0.05 Acres
Days on Market270
Property Features for 2950 Iris Ave 33
General Information
Standard status
Active
Size
1,140 SF
Lot size
0.05 Acres
Property subtype
Other
Building Details
Building Size
1,140 SF
Year Built
2016
Stories
1
Listing Agency:
(619) 551-0420
Listed By:
Ignacio Yanez-O'Hara
(619) 551-0420
Source:
Elliman
Added: Dec 3, 2025
Changed: Aug 24
Last Checked: Aug 29 at 2:19PM
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 Ignacio Yanez-O'Hara
Investment Insights
Based on property information with market context.
This is a well-maintained mobile home built in 2016, featuring 2 bedrooms plus a den currently used as a third bedroom, and 2 bathrooms. It is located in a quiet senior (55+/18+) park. The monthly rent for the lot is $1115. The property includes a spacious carport and porch. Appliances are included. One resident must be 55 or older, and other residents must be 18 or older. Financing is available for approved clients.
Key Highlights
- Well‑maintained 2016 manufactured home
- 2 bedrooms + Den (can be used as a 3rd bedroom)
- Located in a quiet Senior (55+/18+) park
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
$21,489
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
9.15%
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%
$429,780
$429.8K
Cap Rate 7%
$306,986
$307.0K
Cap Rate 9%
$238,767
$238.8K
Market Conditions
NOI Build-Up for 1,140 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
$41.0K $36.00/SF
− Vacancy
−$2.0K −$1.73/SF
EGI
$39.1K $34.27/SF
− OpEx
−$17.6K −$15.42/SF
NOI
$21.5K $18.85/SF
Area
ZIP 92154
Vacancy
4.80%
Lease Rate
$36.00 /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%
$429,780
Cap Rate 7%
$306,986
Cap Rate 9%
$238,767
Alternative Uses
Best Use
Apartment 5plus
$307.0K
$268.6K – $358.2K
NOI $21,489 @ 7.0% cap · market cap 9.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$408.1K
$357.1K – $476.1K
NOI $28,564 @ 7.0% cap · market cap 12.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
595
Businesses Nearby
Explore this area
Business Placement
Demographics for 92154, CA
84,027
Population
23,832
Households
3.5
Avg Household Size
36
Median Age
21%
College-Educated
80%
High-School Grad
51.3 sq mi
ZIP Area
1,638
Density / Sq Mi
$90,035
Median Household Income
$42,333
Median Earnings
$2,143
Median Rent
$606,400
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?
Mobile home & RV park - 2-bed, 2-bath mobile home in a quiet senior park.
Where is this mobile home & rv park located?
The property is located at 2950 Iris Ave 33 San Diego, CA.
What is the asking price?
The asking price for this property is $234,900.
What are key features of this property?
This property features: Well‑maintained 2016 manufactured home; 2 bedrooms + Den (can be used as a 3rd bedroom); Located in a quiet Senior (55+/18+) park
