Multifamily Property with Owned
For Sale
$1,799,000
2306 Modesto St, San Diego, CA 92105
MULTI_FAMILY - San Diego, CA
Property Size3,163 SF
Lot Size9,762.00 Acres
Price / SF$568.76
Days on Market132
Property Features for 2306 Modesto St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2 S1-7
Bedrooms
9
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 7, Bedroom 5, Bedroom 6, Bedroom 8, Bedroom 1, Bedroom 3, Bedroom 4, Bedroom 9, Bathroom 2, Bathroom 6, Bathroom 4, Bathroom 1, Bedroom 2, Bathroom 5, Bathroom 3
Exterior features
Corner Lot, Public Street, Sidewalks, Street Paved
Subdivision
CITY HEIGHTS
Elementary school
San Diego Unified School Distric
Middle school
San Diego Unified School Distric
High school
San Diego Unified School Distric
Directions
2306 Modesto Street is currently Occupied - Do Not Disturb! 4292 Juniper Street, Brand New Construction is VACANT - on Lockbox
Standard status
Active
APN
476-552-15-00
Size
3,163 SF
Lot size
9,762.00 Acres
Utilities
Heating system
Solar (Heating), Forced Air, Passive Solar
Cooling system
Central Air
Building Details
Year built
2000
Number of units
3
Roof type
Composition
Listing Agency:
Coastal Rock Realty
(858) 277-7600
Listed By:
Mary P Sparks · License #01235210
(619) 261-6061
Added: Mar 23
Changed: Jul 15
Last Checked: Aug 1 at 5:06PM
MLS# 260007617
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 for-sale multi-residence compound at 2306 Modesto St in San Diego includes two detached homes, each with owned solar systems (not leased). The property’s main residence is a 4-bedroom, 3-bath home, and there is also a newly constructed designer ADU/SFR featuring 3 bedrooms and 2 baths. The ADU was completed in December 2025. In addition, there is an extra 2-bedroom, 1-bath garage conversion unit noted as unpermitted. A variance has been granted for 2–4 units, and the lot size is 9,762 square feet.
Zoned R2 S1-7, the layout supports flexible occupancy and rental configurations within the permitted variance. Showings are currently available for the ADU residence only, with the main residence and additional structures available by appointment only.
Zoned R2 S1-7, the layout supports flexible occupancy and rental configurations within the permitted variance. Showings are currently available for the ADU residence only, with the main residence and additional structures available by appointment only.
Key Highlights
- Two detached residences on a 9,762 SF corner lot with variance granted for 2–4 units
- Main residence: 4 bed, 3 bath, approx. 1,404 SF
- Detached ADU/SFR: 3 bed, 2 bath, approx. 1,184 SF; newly completed in December 2025
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 | $96.8k | $30.60 |
| − Vacancy | −$5.1k | −$1.60 |
| EGI | $91.7k | $29.00 |
| − OpEx | −$27.5k | −$8.70 |
| NOI | $64.2k | $20.30 |
3,163 SF · lease $30.60/SF/yr · vacancy 5.22% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$917.4K
$802.7K – $1.07M
NOI $64,215 @ 7.0% cap · market cap 3.57%
Second Best
Apartment 5plus
$845.5K
$739.8K – $986.4K
NOI $59,183 @ 7.0% cap · market cap 3.29%
Theoretical Best
Specialty Retail
$1.25M
$1.09M – $1.46M
NOI $87,451 @ 7.0% cap · market cap 4.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
402
Businesses Nearby
Explore this area
Business Placement
Demographics for 92105, CA
66,579
Population
23,862
Households
2.8
Avg Household Size
34
Median Age
21%
College-Educated
71%
High-School Grad
5.8 sq mi
ZIP Area
11,479
Density / Sq Mi
$65,174
Median Household Income
$34,469
Median Earnings
$1,687
Median Rent
$593,800
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 - Two detached residences sit on a corner lot with a variance allowing 2–4 units.
Where is this triplex located?
The property is located at 2306 Modesto St San Diego, CA.
What is the asking price?
The asking price for this property is $1,799,000.
What are key features of this property?
This property features: Two detached residences on a 9,762 SF corner lot with variance granted for 2–4 units; Main residence: 4 bed, 3 bath, approx. 1,404 SF; Detached ADU/SFR: 3 bed, 2 bath, approx. 1,184 SF; newly completed in December 2025
