Small Multifamily with 2BR/1BA
For Sale
$1,550,000
Pending
1212 AZUSA St, San Diego, CA 92110
For-sale residential income property featuring 2-bedroom, 1-bath units and central access to major San Diego corridors.
Property Size3,000 SF
Days on Market122
Property Features for 1212 AZUSA St
General Information
Standard status
Pending
Size
3,000 SF
Property subtype
Investment
Building Details
Building Size
3,000 SF
Year Built
1972
Units
4
Listed By:
Clemente Casillas
(619) 992-7075
Source:
Elliman
Added: May 10
Changed: Sep 5
Last Checked: Sep 7 at 9:06AM
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 Clemente Casillas
Investment Insights
Based on property information with market context.
This for-sale residential income property includes 2-bedroom, 1-bath units. It is positioned as a straightforward multifamily option for investors seeking a manageable unit configuration.
Public remarks indicate the property provides access to Mission Bay, Mission Valley, Downtown, and I-5/I-8. Transportation and mobility indicators provided include a BikeScore of 72 (Very Bikeable), a WalkScore of 69 (Somewhat Walkable), and a TransitScore of 49 (Some Transit). Buyer to verify all information.
Public remarks indicate the property provides access to Mission Bay, Mission Valley, Downtown, and I-5/I-8. Transportation and mobility indicators provided include a BikeScore of 72 (Very Bikeable), a WalkScore of 69 (Somewhat Walkable), and a TransitScore of 49 (Some Transit). Buyer to verify all information.
Key Highlights
- Residential income property built in 1972
- Units feature 2 bedrooms and 1 bathroom
- Central access to Mission Bay, Mission Valley, Downtown, and I‑5/I‑8
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
$49,584
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
3.20%
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%
$991,680
$991.7K
Cap Rate 7%
$708,343
$708.3K
Cap Rate 9%
$550,933
$550.9K
Market Conditions
NOI Build-Up for 3,000 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
$95.4K $31.80/SF
− Vacancy
−$5.2K −$1.75/SF
EGI
$90.2K $30.05/SF
− OpEx
−$40.6K −$13.52/SF
NOI
$49.6K $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%
$991,680
Cap Rate 7%
$708,343
Cap Rate 9%
$550,933
Alternative Uses
Best Use
Apartment 5plus
$708.3K
$619.8K – $826.4K
NOI $49,584 @ 7.0% cap · market cap 3.20%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.18M
$1.04M – $1.38M
NOI $82,944 @ 7.0% cap · market cap 5.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,466
Businesses Nearby
Explore this area
Business Placement
Demographics for 92110, CA
31,048
Population
13,227
Households
2.3
Avg Household Size
34
Median Age
54%
College-Educated
96%
High-School Grad
5.0 sq mi
ZIP Area
6,210
Density / Sq Mi
$102,508
Median Household Income
$52,150
Median Earnings
$2,298
Median Rent
$885,200
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?
Multifamily property - For-sale residential income property featuring 2-bedroom, 1-bath units and central access to major San Diego corridors.
Where is this multifamily property located?
The property is located at 1212 AZUSA St San Diego, CA.
What is the asking price?
The asking price for this property is $1,550,000.
What are key features of this property?
This property features: Residential income property built in 1972; Units feature 2 bedrooms and 1 bathroom; Central access to Mission Bay, Mission Valley, Downtown, and I‑5/I‑8
