Duplex with Detached
New
For Sale
$1,150,000
2304 G Ave, National City, CA 91950
Two homes on one parcel combine a vacant, recently updated front residence with an occupied rear home.
Property Size2,310 SF
Price / SF$497.84
Days on Market7
Property Features for 2304 G Ave
General Information
Standard status
Active
Size
2,310 SF
Property subtype
Multi-Family
Units
Unit Mix
3BR/2BA (optional 4BR), 3BR/1BA
Multifamily Units
2
Additional Details
Asking Price
$1,150,000
Highway Access
Yes
Amenities
separate laundry facilities
Building Details
Year Built
1940
Buildings
2
Listing Agency:
ACI Apartments
Listed By:
Christina M Labowicz christina@aciapartments.com
Source:
Viewsandiegohouses
Added: Sep 21
Changed: Sep 26
Last Checked: Sep 26 at 2:34PM
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 ACI Apartments
Investment Insights
Based on property information with market context.
This duplex property at 2304 G Avenue comprises two detached residences on one lot, with a combined 7 bedrooms and 3 bathrooms. The vacant front home has 3 bedrooms and 2 bathrooms, an updated kitchen, refreshed bathrooms, modern finishes and separate laundry; an optional fourth bedroom is also noted. The rear residence has 3 bedrooms and 1 bathroom, is occupied, and has its own laundry facilities. Parking is available on site.
The property is in National City, near Los Palmas Park, local restaurants, shopping and major freeways.
The property is in National City, near Los Palmas Park, local restaurants, shopping and major freeways.
Key Highlights
- Two detached homes on one lot
- Combined 7 bedrooms and 3 bathrooms
- Vacant front residence with 3 bedrooms and 2 bathrooms; optional fourth bedroom
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
$41,389
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
3.60%
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%
$827,780
$827.8K
Cap Rate 7%
$591,271
$591.3K
Cap Rate 9%
$459,878
$459.9K
Market Conditions
NOI Build-Up for 2,310 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
$62.4K $27.00/SF
− Vacancy
−$3.2K −$1.40/SF
EGI
$59.1K $25.60/SF
− OpEx
−$17.7K −$7.68/SF
NOI
$41.4K $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%
$827,780
Cap Rate 7%
$591,271
Cap Rate 9%
$459,878
Alternative Uses
Best Use
Multifamily LT 5
$591.3K
$517.4K – $689.8K
NOI $41,389 @ 7.0% cap · market cap 3.60%
Second Best
Apartment 5plus
$548.3K
$479.8K – $639.7K
NOI $38,382 @ 7.0% cap · market cap 3.34%
Theoretical Best
Office A
$1.06M
$926.1K – $1.23M
NOI $74,086 @ 7.0% cap · market cap 6.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,369
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two homes on one parcel combine a vacant, recently updated front residence with an occupied rear home.
Where is this duplex located?
The property is located at 2304 G Ave National City, CA.
What is the asking price?
The asking price for this property is $1,150,000.
What are key features of this property?
This property features: Two detached homes on one lot; Combined 7 bedrooms and 3 bathrooms; Vacant front residence with 3 bedrooms and 2 bathrooms; optional fourth bedroom
