Triplex With Detached
For Sale
$998,500
Pending
1967-1969 Harrison Avenue, San Diego, CA 92113
Three separate residences offer a mix of one larger home and two smaller cottage units.
Property Size2,350 SF
Lot Size0.17 Acres
Days on Market70
Property Features for 1967-1969 Harrison Avenue
General Information
Standard status
Pending
Size
2,350 SF
Lot size
0.17 Acres
Property subtype
Residential Income
Units
Unit Mix
1 x 3BR/1BA, 2 x 2BR/1BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Amenities
1 Story
N/K
3.0
1
3
7
Composition
Partial
Wood
Building Details
Year Built
1917
Buildings
3
Listing Agency:
Coldwell Banker West
(619) 241-5630
Listed By:
Cristina Neighbor · License #01373282
(619) 241-5630
Source:
Compass
Added: Jun 23
Changed: Aug 30
Last Checked: Aug 30 at 11:48PM
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 Coldwell Banker West
Investment Insights
Based on property information with market context.
This triplex property comprises one three-bedroom, one-bath house and two detached cottages, each with two bedrooms and one bathroom. The improvements occupy a 7,512-square-foot lot and were built in 1917. The property is configured as a one-story residential asset with three total residences.
The property is located at 1967-1969 Harrison Avenue in San Diego, near Downtown San Diego, the Gaslamp Quarter, Petco Park, and the Coronado Bridge. Additional nearby conveniences include trolley service, Chicano Park, shopping, dining, entertainment, and access to major Navy installations.
The property is located at 1967-1969 Harrison Avenue in San Diego, near Downtown San Diego, the Gaslamp Quarter, Petco Park, and the Coronado Bridge. Additional nearby conveniences include trolley service, Chicano Park, shopping, dining, entertainment, and access to major Navy installations.
Key Highlights
- Three total residences: one 3BR/1BA house and two 2BR/1BA cottages
- 7,512 sq. ft. lot
- Two cottages are detached from the main house
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
$42,097
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
4.22%
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%
$841,940
$841.9K
Cap Rate 7%
$601,386
$601.4K
Cap Rate 9%
$467,744
$467.7K
Market Conditions
NOI Build-Up for 2,350 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
$63.5K $27.00/SF
− Vacancy
−$3.3K −$1.41/SF
EGI
$60.1K $25.59/SF
− OpEx
−$18.0K −$7.68/SF
NOI
$42.1K $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%
$841,940
Cap Rate 7%
$601,386
Cap Rate 9%
$467,744
Alternative Uses
Best Use
Multifamily LT 5
$601.4K
$526.2K – $701.6K
NOI $42,097 @ 7.0% cap · market cap 4.22%
Second Best
Apartment 5plus
$554.9K
$485.5K – $647.4K
NOI $38,841 @ 7.0% cap · market cap 3.89%
Theoretical Best
Specialty Retail
$928.2K
$812.2K – $1.08M
NOI $64,973 @ 7.0% cap · market cap 6.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,246
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three separate residences offer a mix of one larger home and two smaller cottage units.
Where is this triplex located?
The property is located at 1967-1969 Harrison Avenue San Diego, CA.
What is the asking price?
The asking price for this property is $998,500.
What are key features of this property?
This property features: Three total residences: one 3BR/1BA house and two 2BR/1BA cottages; 7,512 sq. ft. lot; Two cottages are detached from the main house
