Quadplex with Onsite
New
For Sale
$2,699,000
806 Manhattan Ct, San Diego, CA 92109
One residence is vacant alongside a downstairs laundry facility and storage room.
Property Size5,133 SF
Lot Size0.12 Acres
Days on Market4
Property Features for 806 Manhattan Ct
General Information
Standard status
Active
Size
5,133 SF
Total Parking Spaces
8
Lot size
0.12 Acres
Property subtype
Investment
Occupancy
75%
Units
Unit Mix
1 x 3BR/2.5BA, 1 x 2BR/2BA, 2 x 2BR/1.5BA
Multifamily Units
4
Amenities
downstairs laundry facility
storage room
Building Details
Building Size
5,133 SF
Year Built
1980
Stories
2
Units
4
Listed By:
Daniel Lemieux · License #1245730
(310) 991-8871
Source:
Elliman
Added: Sep 12
Changed: Sep 14
Last Checked: Sep 14 at 8:37AM
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 Daniel Lemieux
Investment Insights
Based on property information with market context.
Built in 1980, this four-unit apartment property occupies an approximately 5,133-square-foot lot formed by two APNs. The unit mix includes one 3-bedroom/2.5-bath residence, one 2-bedroom/2-bath residence, and two 2-bedroom/1.5-bath residences. Current occupancy is 75%, with one unit vacant. Property features include onsite parking, a 2-car garage, a tandem 4-car parking arrangement, additional parking spaces, a downstairs laundry facility, and a storage room.
The property is located at 806 Manhattan Ct in San Diego’s Mission Beach community, 1 block from the Pacific Ocean and the Mission Bay yacht club. WalkScore is 77, BikeScore is 70, and TransitScore is 32. The site offers a coastal multifamily configuration with varied unit sizes and on-site support amenities.
The property is located at 806 Manhattan Ct in San Diego’s Mission Beach community, 1 block from the Pacific Ocean and the Mission Bay yacht club. WalkScore is 77, BikeScore is 70, and TransitScore is 32. The site offers a coastal multifamily configuration with varied unit sizes and on-site support amenities.
Key Highlights
- Four‑unit apartment property on an approximately 5,133 SF lot
- Unit mix includes one 3‑bedroom/2.5‑bath, one 2‑bedroom/2‑bath, and two 2‑bedroom/1.5‑bath residences
- Current occupancy is 75% with one vacant unit
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
$91,950
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
3.41%
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%
$1,839,000
$1.8M
Cap Rate 7%
$1,313,571
$1.3M
Cap Rate 9%
$1,021,667
$1.0M
Market Conditions
NOI Build-Up for 5,133 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
$138.6K $27.00/SF
− Vacancy
−$7.2K −$1.41/SF
EGI
$131.4K $25.59/SF
− OpEx
−$39.4K −$7.68/SF
NOI
$91.9K $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%
$1,839,000
Cap Rate 7%
$1,313,571
Cap Rate 9%
$1,021,667
Alternative Uses
Best Use
Multifamily LT 5
$1.31M
$1.15M – $1.53M
NOI $91,950 @ 7.0% cap · market cap 3.41%
Second Best
Apartment 5plus
$1.21M
$1.06M – $1.41M
NOI $84,838 @ 7.0% cap · market cap 3.14%
Theoretical Best
Specialty Retail
$2.03M
$1.77M – $2.37M
NOI $141,917 @ 7.0% cap · market cap 5.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
75%
Occupancy
Location Intelligence
Trade Area within ½ mile
566
Businesses Nearby
Explore this area
Business Placement
Demographics for 92109, CA
44,671
Population
26,503
Households
1.7
Avg Household Size
35
Median Age
70%
College-Educated
97%
High-School Grad
7.6 sq mi
ZIP Area
5,878
Density / Sq Mi
$118,300
Median Household Income
$71,054
Median Earnings
$2,362
Median Rent
$1,136,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - One residence is vacant alongside a downstairs laundry facility and storage room.
Where is this quadplex located?
The property is located at 806 Manhattan Ct San Diego, CA.
What is the asking price?
The asking price for this property is $2,699,000.
What are key features of this property?
This property features: Four‑unit apartment property on an approximately 5,133 SF lot; Unit mix includes one 3‑bedroom/2.5‑bath, one 2‑bedroom/2‑bath, and two 2‑bedroom/1.5‑bath residences; Current occupancy is 75% with one vacant unit
