Renovated 5-Unit Apartment
For Sale
$1,300,000
1704 B Ave, National City, CA 91950
Small multifamily building with renovated interiors, private yards, and separate gas metering for operational efficiency.
Property Size2,272 SF
Lot Size0.11 Acres
Price / SF$572.18
Days on Market49
Property Features for 1704 B Ave
General Information
Standard status
Active
Size
2,272 SF
Lot size
0.11 Acres
Property subtype
Investment
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
5
Building Details
Building Size
2,272 SF
Year Built
1955
Units
5
Tenancy
Multi
Listing Agency:
Lee & Associates | North San Diego County
(760) 929-7846
Listed By:
Eric von Bluecher · License #01926201
(760) 929-7846
Source:
Elliman
Added: Jun 21
Changed: Aug 7
Last Checked: Aug 8 at 10:38AM
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 Lee & Associates | North San Diego County
Investment Insights
Based on property information with market context.
B Avenue Apartments is a 5-unit apartment building built in 1955, offering a unit mix of four one-bedroom/one-bath apartments and one studio unit. The property includes several tenant-focused amenities, such as private yards and updated interiors. Ownership has completed renovations to four of the five units, including upgrades with wood cabinetry and quartz countertops, helping modernize the living experience while limiting near-term capital expenditures. Separate gas metering is in place, and ownership provides water, trash, and certain common-area utilities.
Located at 1704–1712 B Avenue in National City, California, the property is positioned for convenient daily access. The surrounding area offers proximity to major employment and destinations, with noted connectivity to Interstate 5, Interstate 805, State Route 54, Downtown San Diego, Naval Base San Diego, and the National City waterfront. WalkScore is 76 (very walkable) and transitScore is 56 (good transit), with bikeScore at 61 (bikeable).
For buyers, the combination of a diversified small-unit mix and partially renovated interiors can support a practical ownership approach with in-place residential income. The presence of separate gas metering and clarified utility responsibilities provided by ownership can also simplify operations. Buyer to verify all property information, including square footage, lot size, unit mix, utility metering, parking availability, permits, financial information, and market rental assumptions.
Located at 1704–1712 B Avenue in National City, California, the property is positioned for convenient daily access. The surrounding area offers proximity to major employment and destinations, with noted connectivity to Interstate 5, Interstate 805, State Route 54, Downtown San Diego, Naval Base San Diego, and the National City waterfront. WalkScore is 76 (very walkable) and transitScore is 56 (good transit), with bikeScore at 61 (bikeable).
For buyers, the combination of a diversified small-unit mix and partially renovated interiors can support a practical ownership approach with in-place residential income. The presence of separate gas metering and clarified utility responsibilities provided by ownership can also simplify operations. Buyer to verify all property information, including square footage, lot size, unit mix, utility metering, parking availability, permits, financial information, and market rental assumptions.
Key Highlights
- 5‑unit multifamily at 1704–1712 B Avenue in National City, CA
- 2,272 SF total with unit mix of (4) 1BD/1BA and (1) studio unit
- Built in 1955 on an approximately 4,827 SF lot
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
$37,750
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
2.90%
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%
$755,000
$755.0K
Cap Rate 7%
$539,286
$539.3K
Cap Rate 9%
$419,444
$419.4K
Market Conditions
NOI Build-Up for 2,272 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
$72.2K $31.80/SF
− Vacancy
−$3.6K −$1.59/SF
EGI
$68.6K $30.21/SF
− OpEx
−$30.9K −$13.59/SF
NOI
$37.8K $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%
$755,000
Cap Rate 7%
$539,286
Cap Rate 9%
$419,444
Alternative Uses
Best Use
Apartment 5plus
$539.3K
$471.9K – $629.2K
NOI $37,750 @ 7.0% cap · market cap 2.90%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.04M
$910.8K – $1.21M
NOI $72,867 @ 7.0% cap · market cap 5.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,746
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 - Small multifamily building with renovated interiors, private yards, and separate gas metering for operational efficiency.
Where is this apartment building located?
The property is located at 1704 B Ave National City, CA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 5‑unit multifamily at 1704–1712 B Avenue in National City, CA; 2,272 SF total with unit mix of (4) 1BD/1BA and (1) studio unit; Built in 1955 on an approximately 4,827 SF lot
