Multifamily Property with
New
For Sale
$925,000
12227 LEMON CREST DR, Lakeside, CA 92040
Three separate residences share a fenced pool, with additional parking and solar power on site.
Property Size2,878 SF
Days on Market4
Property Features for 12227 LEMON CREST DR
General Information
Standard status
Active
Size
2,878 SF
Property subtype
Investment
Property Condition
Severity
Repairs Needed
Evidence
FIXER
Additional Details
Multifamily Units
3
Tenant in Place
Yes
Amenities
pool
solar
Building Details
Building Size
2,878 SF
Year Built
1948
Buildings
3
Stories
1
Units
3
Listing Agency:
Keller Williams Realty; 619-507-3166
Listed By:
Gregg Phillipson · License #01153857
(619) 507-3166
Source:
Elliman
Added: Nov 1
Changed: Nov 3
Last Checked: Nov 3 at 6:20AM
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 Keller Williams Realty; 619-507-3166
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Investment Insights
Based on property information with market context.
This multifamily property includes a main house, a guest house, and a studio. The remodeled main residence has 3 bedrooms and 2 bathrooms, a large eat-in kitchen, two fireplaces, and a laundry room. Recent updates include kitchen cabinets, appliances, quartz counters, flooring, paint, light fixtures, and remodeled bathrooms. The guest house has 3 bedrooms, 1 bathroom, and its own laundry area; the guest house and studio are both described as fixer properties.
Outdoor features include a fenced pool for tenant use, separate fenced yards for the guest house and studio, a covered patio, and a shed. The property also has additional parking and solar power. Located in Lakeside, the property was built in 1948.
Outdoor features include a fenced pool for tenant use, separate fenced yards for the guest house and studio, a covered patio, and a shed. The property also has additional parking and solar power. Located in Lakeside, the property was built in 1948.
Key Highlights
- Three separate residences: a main house, guest house, and studio
- Remodeled main house with 3 bedrooms and 2 bathrooms
- Guest house has 3 bedrooms, 1 bathroom, and its own laundry area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,566
Cap Rate
5.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,031,320
$1.0M
Cap Rate 7%
$736,657
$736.7K
Cap Rate 9%
$572,956
$573.0K
Market Conditions
NOI Build-Up for 2,878 SF
Gross rent
$77.7K $27.00/SF
− Vacancy
−$4.0K −$1.40/SF
EGI
$73.7K $25.60/SF
− OpEx
−$22.1K −$7.68/SF
NOI
$51.6K $17.92/SF
Area
San Diego County, CA
Vacancy
5.20%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,031,320
Cap Rate 7%
$736,657
Cap Rate 9%
$572,956
Alternative Uses
Best Use
Multifamily LT 5
$736.7K
$644.6K – $859.4K
NOI $51,566 @ 7.0% cap · market cap 5.57%
Second Best
Apartment 5plus
$683.1K
$597.7K – $797.0K
NOI $47,819 @ 7.0% cap · market cap 5.17%
Theoretical Best
Office A
$1.32M
$1.15M – $1.54M
NOI $92,302 @ 7.0% cap · market cap 9.98%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
779
Businesses Nearby
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Business Placement
Demographics for 92040, CA
43,640
Population
16,147
Households
2.7
Avg Household Size
39
Median Age
25%
College-Educated
93%
High-School Grad
67.2 sq mi
ZIP Area
649
Density / Sq Mi
$103,585
Median Household Income
$49,413
Median Earnings
$1,908
Median Rent
$648,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Three separate residences share a fenced pool, with additional parking and solar power on site.
Where is this multifamily property located?
The property is located at 12227 LEMON CREST DR Lakeside, CA.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Three separate residences: a main house, guest house, and studio; Remodeled main house with 3 bedrooms and 2 bathrooms; Guest house has 3 bedrooms, 1 bathroom, and its own laundry area
