Remodeled Duplex With Private
New
For Sale
$799,995
1971 - 1973 ENSENADA, Lemon Grove, CA 91945
MULTI_FAMILY - Lemon Grove, CA
Property Size1,640 SF
Lot Size0.14 Acres
Price / SF$487.80
Days on Market1
Property Features for 1971 - 1973 ENSENADA
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-2
Bedrooms
4
Bathrooms
4
Full bathrooms
2
Half bathrooms
2
Rooms
Bathroom 2, Bedroom 3, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 4, Bathroom 1, Bathroom 4
Subdivision
LEMON GROVE
Standard status
Active
APN
576-233-01-00
Size
1,640 SF
Lot size
0.14 Acres
Utilities
Heating system
Gravity
Cooling system
Wall/Window Unit(s)
Amenities
private yards
washer/dryer inside units
granite counters
tile showers
dual pane windows
tile/LVP flooring
ceiling fans
vinyl fencing
newer asphalt driveway
Building Details
Year built
1977
Number of units
2
Roof type
Rolled Hot Mop
Listing Agency:
Cal State Realty Services
(858) 312-4905
Listed By:
Justin B Roberts · License #01294574
(619) 851-1677
Added: Aug 13
Last Checked: Aug 13 at 9:06AM
MLS# 260019785
Copyright © 2026 San Diego MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This duplex contains two matching residences, each measuring 820 square feet with two bedrooms and one-and-a-half bathrooms. Both units include granite countertops, tiled shower surrounds, tile and LVP flooring, dual-pane windows, ceiling fans, and in-unit washer/dryer setups. The interiors were remodeled 9 years ago with consistent finishes throughout.
Set back from the road along a long driveway, the property sits on a 0.1374-acre lot in Lemon Grove. Each residence has a private yard, while vinyl fencing encloses the property and the driveway provides ample parking. The improvements were built in 1977 and include gravity heating, wall/window cooling, and a rolled hot mop roof. The property is zoned R-2 and has long-term tenants in place.
Set back from the road along a long driveway, the property sits on a 0.1374-acre lot in Lemon Grove. Each residence has a private yard, while vinyl fencing encloses the property and the driveway provides ample parking. The improvements were built in 1977 and include gravity heating, wall/window cooling, and a rolled hot mop roof. The property is zoned R-2 and has long-term tenants in place.
Key Highlights
- Duplex with 2 residences, each offering 2 bedrooms, 1 1/2 baths, and 820 square feet
- Both units remodeled 9 years ago with matching finishes
- Private yard for each unit with vinyl fencing on all sides
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
$29,384
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
3.67%
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%
$587,680
$587.7K
Cap Rate 7%
$419,771
$419.8K
Cap Rate 9%
$326,489
$326.5K
Market Conditions
NOI Build-Up for 1,640 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
$44.3K $27.00/SF
− Vacancy
−$2.3K −$1.40/SF
EGI
$42.0K $25.60/SF
− OpEx
−$12.6K −$7.68/SF
NOI
$29.4K $17.92/SF
Area
San Diego County, CA
Vacancy
5.20%
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%
$587,680
Cap Rate 7%
$419,771
Cap Rate 9%
$326,489
Alternative Uses
Best Use
Multifamily LT 5
$419.8K
$367.3K – $489.7K
NOI $29,384 @ 7.0% cap · market cap 3.67%
Second Best
Apartment 5plus
$389.3K
$340.6K – $454.2K
NOI $27,249 @ 7.0% cap · market cap 3.41%
Theoretical Best
Office A
$751.4K
$657.5K – $876.6K
NOI $52,598 @ 7.0% cap · market cap 6.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
276
Businesses Nearby
Explore this area
Business Placement
Demographics for 91945, CA
27,814
Population
9,715
Households
2.9
Avg Household Size
38
Median Age
20%
College-Educated
89%
High-School Grad
4.0 sq mi
ZIP Area
6,954
Density / Sq Mi
$79,381
Median Household Income
$41,727
Median Earnings
$1,769
Median Rent
$640,500
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?
Duplex - Two matching residences offer in-unit laundry, updated finishes, individual outdoor space, and substantial on-site parking.
Where is this duplex located?
The property is located at 1971 - 1973 ENSENADA Lemon Grove, CA.
What is the asking price?
The asking price for this property is $799,995.
What are key features of this property?
This property features: Duplex with 2 residences, each offering 2 bedrooms, 1 1/2 baths, and 820 square feet; Both units remodeled 9 years ago with matching finishes; Private yard for each unit with vinyl fencing on all sides
