Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    4881 33Rd St San Diego, CA 92116

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,275,000

    Three-unit property in Normal Heights with significant potential.

    Lot size:
    0.15 Acres

    Property Features for 4881 33Rd St

    General Information

    Property type
    Investment
    Standard status
    Active
    Lot size
    0.15 Acres

    Building Details

    Year built
    1932

    We can help!

    Listing Contact
    Rocky Rockhill
    Rocky Rockhill
    Source: Elliman

    Listing Agency: Coldwell Banker West Listing Agent: Rocky Rockhill

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Normal Heights Triplex with Potential

    Located in the desirable Normal Heights neighborhood, this three-unit property presents a unique opportunity. The property includes a charming cottage with 2 bedrooms and 1 bath, a back house with 1 bedroom and 1 bath, and a converted garage studio with a kitchen and bath that is not currently permitted as habitable space. The 6679 square foot lot includes off-street and off-alley parking for all units. The front house features carefully tended landscaping, original wood windows, hardwood floors, and natural light. The backyard includes astro-turf and a small brick patio. The foundations of both the front and back houses have some issues. The back 1-bedroom house needs a new roof, heat, bathtub, and flooring, along with other improvements. The studio may or may not be a legitimate city-building department assigned street address, although it does get mail delivery. It is a newer garage structure (maybe 2018?) and may have been permitted as a craft room. The garage door is still intact though latched in place. There is parking behind the studio for at least one car on the garage apron. There are three SDG&E meters and one water meter. An old wooden garage on the front portion of the property has been used for storage for the front house. A long driveway provides parking for two or more cars.
    Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Restaurant Law Firm Real Estate Agency Dental Office Spa & Massage Center Hair Salon Nail Salon Food Market Grocery & Convenience Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    San Diego
    County
    San Diego
    State
    California
    Longitude
    -117.1225164
    Latitude
    32.7669781

    Nearby Similar for Sale

    • New
      $1,149,000
      1,610 SF

      Versatile Commercial Space, San Diego

      Commercial space with live/work potential in a vibrant location.
      2487 Kettner Blvd, San Diego, CA 92101
      View Details
    • $815,000
      1,524 SF

      Industrial Condo Near Otay Border

      Industrial condominium near Otay Border truck crossing with warehouse space.
      10050 Via De La Amistad, San Diego, CA 92154
      View Details
    • $1,189,000
      1,778 SF

      Remodeled Office and Retail Space

      Remodeled office and retail space in the heart of Hillcrest.
      825-829 Washington St, San Diego, CA 92103
      View Details
    • $2,356,000
      7,192 SF

      San Diego Commercial/Industrial Flex Space

      Multi-use commercial/industrial flex space in a sought-after San Diego location.
      3065 Beyer Blvd, San Diego, CA 92154
      View Details
    • $2,950,000

      Commercial Property Near Downtown San Diego

      Income-generating commercial asset with long-term tenants and growth potential.
      2751-2771 Imperial Ave, San Diego, CA 92101
      View Details
    • Contact for pricing
      0.17 Acres

      Furnished Offices Near Pacific Beach

      Remodeled offices with amenities, near the ocean in Pacific Beach.
      4526-38 Cass St, San Diego, CA 92109
      View Details
    • $799,000
      2,700 SF

      San Diego Commercial Auto Shop

      Commercial auto body shop with a separate 2-bedroom home.
      3814 Acacia St, San Diego, CA 92113
      View Details
    • New
      $1,799,000
      2,678 SF

      Upgraded Coastal Income Property

      Extensively upgraded San Diego property with income potential.
      3021-3023 Sterne St, San Diego, CA 92106
      View Details
    • $2,500,000
      3,396 SF

      San Diego Retail Auto Facility

      Retail auto repair facility with long-term tenant in San Diego.
      4491 Park Blvd, San Diego, CA 92116
      View Details
    • New
      $2,495,000
      3,000 SF

      Point Loma Duplex with ADU

      Modern duplex in Point Loma with water and city views.
      3241 Ingelow St, San Diego, CA 92106
      View Details
    • $2,250,000
      1,916 SF

      Retail Opportunity Near Ocean Beach

      Retail building with bonus studio near Ocean Beach Pier.
      4975 Newport Ave, San Diego, CA 92107
      View Details
    • $750,000
      1,277 SF

      San Diego Warehouse/Office Condo

      1277 SF warehouse/office condo near Mexico border, easy freeway access.
      10005 Marconi Dr, San Diego, CA 92154
      View Details

    FAQs

    What type of property is this?
    Triplex - Three-unit property in Normal Heights with significant potential.
    Where is this triplex located?
    The property is located at 4881 33Rd St San Diego, CA.
    What is the asking price?
    The asking price for this property is $1,275,000.
    What are key features of this property?
    This property features: - Highly desirable Normal Heights location north of Adams.; - Three units on a large 6679 square foot lot.; - Off-street and off-alley parking for all units.
    (619) 972-3033
    Request Owner's contact information
    4881 33Rd St San Diego, CA 92116
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    4881 33Rd St
    San Diego, CA 92116
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    4881 33Rd St San Diego, CA 92116
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Rocky Rockhill
    Rocky Rockhill
    Real Estate License ID: 01197738
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!