Two-Unit Residential Income
2233-2235 El Prado Ave Lemon Grove, CA 91945
For Sale
Contact for pricing
Two separate legal parcels each with a home, sharing one water meter, creating a functional two-unit setup.
Property Size1,176 SF
Lot Size0.56 Acres
Price / SF$637.33
Days on Market71
Property Features for 2233-2235 El Prado Ave
General Information
- Standard status
- Active
- Size
- 1,176 SF
- Lot size
- 0.56 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1942
Listing Agency:
New Leaf Realty
(619) 922-1000
Listed By:
John Lieber · License #01825624
Source:
Crexi
Added: May 14
Changed: Jul 23
Last Checked: Jul 23 at 4:00PM
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 New Leaf Realty
Investment Insights
Based on property information with market context.
This residential income property consists of two homes on separate legal parcels, sharing one water meter and having functioned as a two-unit property. The front home at 2233 El Prado Ave is a 648 sf, two-bedroom, one-bath residence with an attached garage. The second home at 2235 El Prado Ave is a 528 sf, one-bedroom, one-bath home.
Each home sits on its own parcel, with 2233 El Prado on an 11,800 sf lot and 2235 El Prado on a 12,400 sf lot. The address is 2233–2235 El Prado Ave in Lemon Grove, CA 91945.
Together, the property is configured as two independent homes under separate ownership records, which can be appealing for investors or owners looking to manage a small residential portfolio with a shared utilities arrangement.
Each home sits on its own parcel, with 2233 El Prado on an 11,800 sf lot and 2235 El Prado on a 12,400 sf lot. The address is 2233–2235 El Prado Ave in Lemon Grove, CA 91945.
Together, the property is configured as two independent homes under separate ownership records, which can be appealing for investors or owners looking to manage a small residential portfolio with a shared utilities arrangement.
Key Highlights
- Two separate legal parcels on El Prado, each with a home and its own parcel ownership
- 2233 El Prado: 648 SF, 2 bed / 1 bath with a garage on an 11,800 SF lot
- 2235 El Prado: 528 SF, 1 bed / 1 bath on a 12,400 SF lot
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $31.8k | $27.00 |
| − Vacancy | −$1.7k | −$1.40 |
| EGI | $30.1k | $25.60 |
| − OpEx | −$9.0k | −$7.68 |
| NOI | $21.1k | $17.92 |
1,176 SF · lease $27.00/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$301.0K
$263.4K – $351.2K
NOI $21,071 @ 7.0% cap · market cap 2.81%
Second Best
Apartment 5plus
$279.1K
$244.3K – $325.7K
NOI $19,540 @ 7.0% cap · market cap 2.61%
Theoretical Best
Office A
$538.8K
$471.5K – $628.6K
NOI $37,716 @ 7.0% cap · market cap 5.03%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two separate legal parcels each with a home, sharing one water meter, creating a functional two-unit setup.
Where is this duplex located?
The property is located at 2233-2235 El Prado Ave Lemon Grove, CA.
What is the asking price?
The asking price for this property is $749,500.
What are key features of this property?
This property features: Two separate legal parcels on El Prado, each with a home and its own parcel ownership; 2233 El Prado: 648 SF, 2 bed / 1 bath with a garage on an 11,800 SF lot; 2235 El Prado: 528 SF, 1 bed / 1 bath on a 12,400 SF lot
