Four-Unit Residential
New
For Sale
$1,599,000
2027 31 E Ave, National City, CA 91950
Four residences offer a flexible mix of two- and three-bedroom layouts with on-site vehicle parking.
Property Size3,292 SF
Lot Size0.18 Acres
Price / SF$485.72
Days on Market2
Property Features for 2027 31 E Ave
General Information
Standard status
Active
Size
3,292 SF
Total Parking Spaces
6
Lot size
0.18 Acres
Property subtype
Investment
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
3 x 2BR/1BA, 1 x 3BR/2BA
Multifamily Units
4
Building Details
Building Size
3,292 SF
Year Built
1950
Units
4
Listed By:
Alex Ortega · License #01321114
(619) 454-3903
Source:
Elliman
Added: Sep 16
Last Checked: Sep 16 at 2:42PM
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 Alex Ortega
Investment Insights
Based on property information with market context.
This four-unit residential property includes three two-bedroom, one-bath residences and one three-bedroom, two-bath residence. The combined living area is approximately 3,292 square feet, positioned on a 7,815-square-foot lot with parking for up to six vehicles. Built in 1950, the property provides a range of unit configurations within one compound.
Located at 2027 31 E Ave in National City, the property is near Las Palmas Park and Pool, El Toyon Park, schools, restaurants, grocery stores, everyday services, and Westfield Plaza Bonita. Regional access is available via I-5, I-805, and SR-54, with connections toward Downtown San Diego, Chula Vista, military installations, and South Bay employment centers. WalkScore is 76, BikeScore is 61, and TransitScore is 56.
Located at 2027 31 E Ave in National City, the property is near Las Palmas Park and Pool, El Toyon Park, schools, restaurants, grocery stores, everyday services, and Westfield Plaza Bonita. Regional access is available via I-5, I-805, and SR-54, with connections toward Downtown San Diego, Chula Vista, military installations, and South Bay employment centers. WalkScore is 76, BikeScore is 61, and TransitScore is 56.
Key Highlights
- Four residences: three 2‑bedroom, 1‑bath units and one 3‑bedroom, 2‑bath unit
- Approximately 3,292 square feet of combined living area
- 7,815‑square‑foot 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
$58,983
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
3.69%
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%
$1,179,660
$1.2M
Cap Rate 7%
$842,614
$842.6K
Cap Rate 9%
$655,367
$655.4K
Market Conditions
NOI Build-Up for 3,292 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
$88.9K $27.00/SF
− Vacancy
−$4.6K −$1.40/SF
EGI
$84.3K $25.60/SF
− OpEx
−$25.3K −$7.68/SF
NOI
$59.0K $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%
$1,179,660
Cap Rate 7%
$842,614
Cap Rate 9%
$655,367
Alternative Uses
Best Use
Multifamily LT 5
$842.6K
$737.3K – $983.1K
NOI $58,983 @ 7.0% cap · market cap 3.69%
Second Best
Apartment 5plus
$781.4K
$683.7K – $911.6K
NOI $54,698 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,580 @ 7.0% cap · market cap 6.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,648
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four residences offer a flexible mix of two- and three-bedroom layouts with on-site vehicle parking.
Where is this quadplex located?
The property is located at 2027 31 E Ave National City, CA.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: Four residences: three 2‑bedroom, 1‑bath units and one 3‑bedroom, 2‑bath unit; Approximately 3,292 square feet of combined living area; 7,815‑square‑foot lot
