Triplex with Remodeled
For Sale
Contact for pricing
1729-33 Dahlia, San Diego, CA 92154
Three-unit residential property with two occupied units, one vacant unit, and R-2:MINOR zoning permitting up to four units.
Property Size1,550 SF
Price / SF$641.94
Days on Market157
Property Features for 1729-33 Dahlia
General Information
Standard status
Active
Size
1,550 SF
Property subtype
Multifamily
Zoning
R-2:MINOR
Units
Unit Mix
1 x 2BR/1BA, 1 x 2BR/2BA, 1 x 1BR/1BA
Multifamily Units
3
Building Details
Year Built
1943
Buildings
1
Stories
1
Units
2
Listing Agency:
Bluxen, Inc.
(858) 535-0000
Listed By:
Farid Khayamian · License #01835318
Source:
Crexi
Added: Mar 27
Changed: Aug 29
Last Checked: Aug 29 at 11:47PM
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 Bluxen, Inc.
Investment Insights
Based on property information with market context.
This three-unit residential property includes a two-bedroom, one-bathroom front unit, a two-bedroom, two-bathroom main unit, and a one-bedroom, one-bathroom rear unit. The main unit has been fully remodeled and is vacant, while the other two units are occupied. Two units are identified as legal; the rear unit’s permit status is unknown.
The property is located at 1729-33 Dahlia in San Diego, California. R-2:MINOR zoning allows up to four units. Architectural plans for a possible expansion have already been prepared and are available for review. The property was built in 1943 and combines existing occupancy with a remodeled vacant unit and documented expansion plans.
The property is located at 1729-33 Dahlia in San Diego, California. R-2:MINOR zoning allows up to four units. Architectural plans for a possible expansion have already been prepared and are available for review. The property was built in 1943 and combines existing occupancy with a remodeled vacant unit and documented expansion plans.
Key Highlights
- Three units: two‑bedroom/one‑bathroom, two‑bedroom/two‑bathroom, and one‑bedroom/one‑bathroom configurations
- Main unit fully remodeled and currently vacant
- Two units currently occupied
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
$31,475
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
3.16%
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%
$629,500
$629.5K
Cap Rate 7%
$449,643
$449.6K
Cap Rate 9%
$349,722
$349.7K
Market Conditions
NOI Build-Up for 1,550 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
$47.4K $30.60/SF
− Vacancy
−$2.5K −$1.59/SF
EGI
$45.0K $29.01/SF
− OpEx
−$13.5K −$8.70/SF
NOI
$31.5K $20.31/SF
Area
ZIP 92154
Vacancy
5.20%
Lease Rate
$30.60 /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%
$629,500
Cap Rate 7%
$449,643
Cap Rate 9%
$349,722
Alternative Uses
Best Use
Multifamily LT 5
$449.6K
$393.4K – $524.6K
NOI $31,475 @ 7.0% cap · market cap 3.16%
Second Best
Apartment 5plus
$417.4K
$365.2K – $487.0K
NOI $29,217 @ 7.0% cap · market cap 2.94%
Theoretical Best
Office A
$554.8K
$485.5K – $647.3K
NOI $38,837 @ 7.0% cap · market cap 3.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
432
Businesses Nearby
Explore this area
Business Placement
Demographics for 92154, CA
84,027
Population
23,832
Households
3.5
Avg Household Size
36
Median Age
21%
College-Educated
80%
High-School Grad
51.3 sq mi
ZIP Area
1,638
Density / Sq Mi
$90,035
Median Household Income
$42,333
Median Earnings
$2,143
Median Rent
$606,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit residential property with two occupied units, one vacant unit, and R-2:MINOR zoning permitting up to four units.
Where is this triplex located?
The property is located at 1729-33 Dahlia San Diego, CA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Three units: two‑bedroom/one‑bathroom, two‑bedroom/two‑bathroom, and one‑bedroom/one‑bathroom configurations; Main unit fully remodeled and currently vacant; Two units currently occupied
