8-Unit Apartment
For Sale
Contact for pricing
1623 E 10th St., National City, CA 91950
Updated windows and electrical subpanels complement convenient access to shopping and transit in National City.
Property Size4,896 SF
Price / SF$387.05
Days on Market8
Property Features for 1623 E 10th St.
General Information
Standard status
Active
Size
4,896 SF
Total Parking Spaces
9
Property subtype
Multifamily
Occupancy
100%
Units
Unit Mix
4 x 1BR, 4 x 2BR
Multifamily Units
8
Additional Details
Public Transit
Yes
Building Details
Buildings
1
Stories
2
Units
8
Listing Agency:
Kidder Mathews San Diego
(619) 884-5456
Listed By:
Ray Adams · License #CA 01298909
Source:
Crexi
Added: Aug 3
Changed: Aug 9
Last Checked: Aug 9 at 6:30AM
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 Kidder Mathews San Diego
Investment Insights
Based on property information with market context.
This apartment property contains 8 units within 4896 SF of building area. The unit mix includes four one-bedroom residences and four two-bedroom residences, providing a balanced configuration across the building. Recent improvements include new windows and electrical subpanels, while off-street parking supports the property’s residential layout.
Located at 1623 E 10th St. in National City, the property offers access to nearby shopping and transit within walking distance. The existing eight-unit configuration and documented improvements provide a clear overview of the asset for apartment-focused buyers.
Located at 1623 E 10th St. in National City, the property offers access to nearby shopping and transit within walking distance. The existing eight-unit configuration and documented improvements provide a clear overview of the asset for apartment-focused buyers.
Key Highlights
- 8‑unit apartment property totaling 4896 SF
- Unit mix includes 4 one‑bedroom and 4 two‑bedroom units
- New windows and electrical subpanels
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
$81,349
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
4.29%
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%
$1,626,980
$1.6M
Cap Rate 7%
$1,162,129
$1.2M
Cap Rate 9%
$903,878
$903.9K
Market Conditions
NOI Build-Up for 4,896 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
$155.7K $31.80/SF
− Vacancy
−$7.8K −$1.59/SF
EGI
$147.9K $30.21/SF
− OpEx
−$66.6K −$13.59/SF
NOI
$81.3K $16.62/SF
Area
San Diego County, CA
Vacancy
5.00%
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%
$1,626,980
Cap Rate 7%
$1,162,129
Cap Rate 9%
$903,878
Alternative Uses
Best Use
Apartment 5plus
$1.16M
$1.02M – $1.36M
NOI $81,349 @ 7.0% cap · market cap 4.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.24M
$1.96M – $2.62M
NOI $157,023 @ 7.0% cap · market cap 8.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
1,906
Businesses Nearby
Explore this area
Business Placement
Demographics for 91950, CA
57,849
Population
19,049
Households
3
Avg Household Size
36
Median Age
16%
College-Educated
76%
High-School Grad
7.3 sq mi
ZIP Area
7,925
Density / Sq Mi
$63,858
Median Household Income
$34,013
Median Earnings
$1,600
Median Rent
$580,700
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?
Apartment building - Updated windows and electrical subpanels complement convenient access to shopping and transit in National City.
Where is this apartment building located?
The property is located at 1623 E 10th St. National City, CA.
What is the asking price?
The asking price for this property is $1,895,000.
What are key features of this property?
This property features: 8‑unit apartment property totaling 4896 SF; Unit mix includes 4 one‑bedroom and 4 two‑bedroom units; New windows and electrical subpanels
