Six-Unit Apartment
New
For Sale
$1,260,000
2016 2020 Newton Ave, San Diego, CA 92113
A single-story property offers a fully occupied residential configuration in San Diego’s Barrio Logan submarket.
Property Size3,380 SF
Days on Market2
Property Features for 2016 2020 Newton Ave
General Information
Standard status
Active
Size
3,380 SF
Property subtype
Investment
Occupancy
100%
Units
Unit Mix
6 x 1BR/1BA
Multifamily Units
6
Additional Details
Public Transit
Yes
Building Details
Building Size
3,380 SF
Year Built
1948
Stories
1
Units
6
Listed By:
Non Non-Member
Source:
Elliman
Added: Oct 4
Last Checked: Oct 4 at 1:59PM
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 Non Non-Member
Investment Insights
Based on property information with market context.
This single-story apartment building contains six one-bedroom, one-bathroom residences and is fully occupied. Constructed in 1948, the property is located in San Diego’s Barrio Logan submarket.
The site is adjacent to Downtown San Diego, Naval Base San Diego, and Chicano Park. Walk Score is 89, Bike Score is 60, and Transit Score is 59.
The site is adjacent to Downtown San Diego, Naval Base San Diego, and Chicano Park. Walk Score is 89, Bike Score is 60, and Transit Score is 59.
Key Highlights
- Six 1‑bedroom, 1‑bathroom units
- All six residences are occupied
- Single‑story apartment building
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
$55,865
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
4.43%
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%
$1,117,300
$1.1M
Cap Rate 7%
$798,071
$798.1K
Cap Rate 9%
$620,722
$620.7K
Market Conditions
NOI Build-Up for 3,380 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
$107.5K $31.80/SF
− Vacancy
−$5.9K −$1.75/SF
EGI
$101.6K $30.05/SF
− OpEx
−$45.7K −$13.52/SF
NOI
$55.9K $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%
$1,117,300
Cap Rate 7%
$798,071
Cap Rate 9%
$620,722
Alternative Uses
Best Use
Apartment 5plus
$798.1K
$698.3K – $931.1K
NOI $55,865 @ 7.0% cap · market cap 4.43%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.33M
$1.17M – $1.56M
NOI $93,450 @ 7.0% cap · market cap 7.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,782
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - A single-story property offers a fully occupied residential configuration in San Diego’s Barrio Logan submarket.
Where is this apartment building located?
The property is located at 2016 2020 Newton Ave San Diego, CA.
What is the asking price?
The asking price for this property is $1,260,000.
What are key features of this property?
This property features: Six 1‑bedroom, 1‑bathroom units; All six residences are occupied; Single‑story apartment building
