Duplex with Permitted
For Sale
$1,199,999
7293 Gatewood Ln, San Diego, CA 92114
Two independent residences provide separate entrances, electric meters, and private fenced outdoor areas.
Property Size2,944 SF
Days on Market113
Property Features for 7293 Gatewood Ln
General Information
Standard status
Active
Size
2,944 SF
Property subtype
Investment
Units
Unit Mix
1 x 3BR/2BA
Multifamily Units
2
Additional Details
Public Transit
Yes
Amenities
private backyard
fully fenced backyard
walk-in closet
granite countertops
stackable washer and dryer
split-type HVAC system
solar panels
Building Details
Building Size
2,944 SF
Year Built
1960
Units
2
Listing Agency:
(619) 479-4351
Listed By:
Steven Haskins
(619) 479-4351
Source:
Elliman
Added: May 10
Changed: Aug 29
Last Checked: Aug 29 at 6:13PM
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 Steven Haskins
Investment Insights
Based on property information with market context.
This duplex property includes a remodeled main residence and a permitted accessory dwelling unit completed in 2024. The homes have separate addresses and individual electric meters. The primary residence includes a private backyard, while the ADU has its own entrance and fully enclosed yard.
The ADU provides 3 bedrooms and 2 bathrooms, along with a full kitchen featuring granite countertops, a walk-in closet, and a full-size stacked washer and dryer. It also has dedicated split-system HVAC and paid-off solar panels. Built in 1960, the property is located at 7293 Gatewood Ln in San Diego, with separate living arrangements that support rental use, multigenerational occupancy, or owner occupancy alongside a second residence.
The ADU provides 3 bedrooms and 2 bathrooms, along with a full kitchen featuring granite countertops, a walk-in closet, and a full-size stacked washer and dryer. It also has dedicated split-system HVAC and paid-off solar panels. Built in 1960, the property is located at 7293 Gatewood Ln in San Diego, with separate living arrangements that support rental use, multigenerational occupancy, or owner occupancy alongside a second residence.
Key Highlights
- Permitted ADU completed in 2024 with 3 bedrooms and 2 bathrooms
- Two separate addresses with individual electric meters
- Remodeled main residence with a private backyard
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
$66,814
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
5.57%
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%
$1,336,280
$1.3M
Cap Rate 7%
$954,486
$954.5K
Cap Rate 9%
$742,378
$742.4K
Market Conditions
NOI Build-Up for 2,944 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
$100.7K $34.20/SF
− Vacancy
−$5.2K −$1.78/SF
EGI
$95.4K $32.42/SF
− OpEx
−$28.6K −$9.73/SF
NOI
$66.8K $22.70/SF
Area
ZIP 92114
Vacancy
5.20%
Lease Rate
$34.20 /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%
$1,336,280
Cap Rate 7%
$954,486
Cap Rate 9%
$742,378
Alternative Uses
Best Use
Multifamily LT 5
$954.5K
$835.2K – $1.11M
NOI $66,814 @ 7.0% cap · market cap 5.57%
Second Best
Apartment 5plus
$882.5K
$772.2K – $1.03M
NOI $61,772 @ 7.0% cap · market cap 5.15%
Theoretical Best
Office A
$1.09M
$953.7K – $1.27M
NOI $76,296 @ 7.0% cap · market cap 6.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
245
Businesses Nearby
Explore this area
Business Placement
Demographics for 92114, CA
66,248
Population
18,767
Households
3.5
Avg Household Size
37
Median Age
20%
College-Educated
82%
High-School Grad
8.3 sq mi
ZIP Area
7,982
Density / Sq Mi
$90,171
Median Household Income
$41,312
Median Earnings
$1,741
Median Rent
$604,300
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?
Duplex - Two independent residences provide separate entrances, electric meters, and private fenced outdoor areas.
Where is this duplex located?
The property is located at 7293 Gatewood Ln San Diego, CA.
What is the asking price?
The asking price for this property is $1,199,999.
What are key features of this property?
This property features: Permitted ADU completed in 2024 with 3 bedrooms and 2 bathrooms; Two separate addresses with individual electric meters; Remodeled main residence with a private backyard
