Renovated Triplex With Separate
New
For Sale
$1,149,900
3483 85 Newton Ave, San Diego, CA 92113
Three homes on one lot provide separate utilities and private fenced yard areas.
Property Size1,850 SF
Days on Market4
Property Features for 3483 85 Newton Ave
General Information
Standard status
Active
Size
1,850 SF
Property subtype
Investment
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 1BR/1BA, 1 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
3
Building Details
Building Size
1,850 SF
Year Built
1950
Buildings
3
Units
3
Listing Agency:
(760) 822-1235
Listed By:
Gary Cashman · License #01290085
(760) 822-1235
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 11 at 10:04AM
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 Gary Cashman
Investment Insights
Based on property information with market context.
This triplex comprises three renovated homes on a single lot, with individual gas and water meters and dedicated fenced yard areas. The rear residence offers 1 bedroom and 1 bath, plus a driveway and sliding gate access from the alley. The middle home includes 2 bedrooms, 1 bath, and a laundry area, while the front residence provides 3 bedrooms, 1 bath, and its own laundry area.
Recent property updates include new roofs, new windows, stainless steel appliances, and laminate flooring throughout. Built in 1950, the property is near Emerson Elementary and within walking distance of Otto Square Shopping Center. Access to the 15 and 805 freeways is also available, with a walk score of 84, bike score of 71, and transit score of 53.
Recent property updates include new roofs, new windows, stainless steel appliances, and laminate flooring throughout. Built in 1950, the property is near Emerson Elementary and within walking distance of Otto Square Shopping Center. Access to the 15 and 805 freeways is also available, with a walk score of 84, bike score of 71, and transit score of 53.
Key Highlights
- Three renovated homes configured as a triplex on one lot
- Separate gas and water meters for each home
- Unit mix includes 1‑bedroom, 2‑bedroom, and 3‑bedroom homes
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
$33,140
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
2.88%
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%
$662,800
$662.8K
Cap Rate 7%
$473,429
$473.4K
Cap Rate 9%
$368,222
$368.2K
Market Conditions
NOI Build-Up for 1,850 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
$50.0K $27.00/SF
− Vacancy
−$2.6K −$1.41/SF
EGI
$47.3K $25.59/SF
− OpEx
−$14.2K −$7.68/SF
NOI
$33.1K $17.91/SF
Area
San Diego, CA
Vacancy
5.22%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
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%
$662,800
Cap Rate 7%
$473,429
Cap Rate 9%
$368,222
Alternative Uses
Best Use
Multifamily LT 5
$473.4K
$414.3K – $552.3K
NOI $33,140 @ 7.0% cap · market cap 2.88%
Second Best
Apartment 5plus
$436.8K
$382.2K – $509.6K
NOI $30,577 @ 7.0% cap · market cap 2.66%
Theoretical Best
Specialty Retail
$730.7K
$639.4K – $852.5K
NOI $51,149 @ 7.0% cap · market cap 4.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
859
Businesses Nearby
Explore this area
Business Placement
Demographics for 92113, CA
50,457
Population
14,443
Households
3.5
Avg Household Size
32
Median Age
11%
College-Educated
69%
High-School Grad
4.5 sq mi
ZIP Area
11,213
Density / Sq Mi
$59,177
Median Household Income
$31,099
Median Earnings
$1,608
Median Rent
$559,100
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?
Triplex - Three homes on one lot provide separate utilities and private fenced yard areas.
Where is this triplex located?
The property is located at 3483 85 Newton Ave San Diego, CA.
What is the asking price?
The asking price for this property is $1,149,900.
What are key features of this property?
This property features: Three renovated homes configured as a triplex on one lot; Separate gas and water meters for each home; Unit mix includes 1‑bedroom, 2‑bedroom, and 3‑bedroom homes
