Multifamily Property with
For Sale
$2,200,000
2409 Fleetwood St, San Diego, CA 92111
Two detached duplex structures complement an existing single-family residence with newly built accessory dwelling units.
Property Size4,975 SF
Lot Size0.29 Acres
Days on Market48
Property Features for 2409 Fleetwood St
General Information
Standard status
Active
Size
4,975 SF
Lot size
0.29 Acres
Property subtype
Investment
Units
Unit Mix
4 x 2BR/2BA
Multifamily Units
4
Building Details
Building Size
4,975 SF
Year Built
2026
Buildings
2
Units
5
Listing Agency:
Gene Bowman Realty
Listed By:
Christian Ballow · License #02046669
(619) 207-7601
Source:
Elliman
Added: Sep 1
Changed: Oct 14
Last Checked: Oct 16 at 11:01AM
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 Gene Bowman Realty
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Investment Insights
Based on property information with market context.
Set on a 12,653-square-foot lot, this multifamily property combines an existing single-family residence with two newly constructed detached duplex buildings. Each duplex contains stacked two-bedroom, two-bathroom ADUs measuring 800 square feet per unit. The ADUs feature private entrances, in-unit laundry, and open-concept living areas, with low-E windows, tankless water heaters, and owned solar systems included throughout the new construction.
The property is located at 2409 Fleetwood St in San Diego’s Clairemont Mesa area. The four ADUs are described as ready for occupancy, providing multiple residential units within a single property. The building improvements carry a 2026 year built designation.
The property is located at 2409 Fleetwood St in San Diego’s Clairemont Mesa area. The four ADUs are described as ready for occupancy, providing multiple residential units within a single property. The building improvements carry a 2026 year built designation.
Key Highlights
- 12,653‑square‑foot lot at 2409 Fleetwood St, San Diego, CA 92111
- Two detached duplex buildings with stacked ADUs
- Four 800‑square‑foot ADUs, each with 2 bedrooms and 2 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$89,119
Cap Rate
4.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,782,380
$1.8M
Cap Rate 7%
$1,273,129
$1.3M
Cap Rate 9%
$990,211
$990.2K
Market Conditions
NOI Build-Up for 4,975 SF
Gross rent
$134.3K $27.00/SF
− Vacancy
−$7.0K −$1.41/SF
EGI
$127.3K $25.59/SF
− OpEx
−$38.2K −$7.68/SF
NOI
$89.1K $17.91/SF
Area
San Diego, CA
Vacancy
5.22%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,782,380
Cap Rate 7%
$1,273,129
Cap Rate 9%
$990,211
Alternative Uses
Best Use
Multifamily LT 5
$1.27M
$1.11M – $1.49M
NOI $89,119 @ 7.0% cap · market cap 4.05%
Second Best
Apartment 5plus
$1.17M
$1.03M – $1.37M
NOI $82,227 @ 7.0% cap · market cap 3.74%
Theoretical Best
Specialty Retail
$1.96M
$1.72M – $2.29M
NOI $137,549 @ 7.0% cap · market cap 6.25%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
820
Businesses Nearby
Explore this area
Business Placement
Demographics for 92111, CA
46,686
Population
17,624
Households
2.6
Avg Household Size
37
Median Age
43%
College-Educated
88%
High-School Grad
8.5 sq mi
ZIP Area
5,492
Density / Sq Mi
$95,081
Median Household Income
$43,215
Median Earnings
$2,049
Median Rent
$754,300
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
Frequently Asked Questions
What type of property is this?
Multifamily property - Two detached duplex structures complement an existing single-family residence with newly built accessory dwelling units.
Where is this multifamily property located?
The property is located at 2409 Fleetwood St San Diego, CA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 12,653‑square‑foot lot at 2409 Fleetwood St, San Diego, CA 92111; Two detached duplex buildings with stacked ADUs; Four 800‑square‑foot ADUs, each with 2 bedrooms and 2 bathrooms
