7-Unit Multifamily
2438-42 India Street San Diego, CA 92101
For Sale
Contact for pricing
Well-maintained 7-unit multifamily property built in 1950 with a mix of studio, one-bedroom, and two-bedroom units.
Property Size4,000 SF
Price / SF$525
Days on Market74
Property Features for 2438-42 India Street
General Information
- Standard status
- Active
- Size
- 4,000 SF
- Property subtype
- Multifamily
Listing Agency:
CBRE - San Diego
(720) 841-8139
Listed By:
Conor Brennan · License #01918598
Source:
Crexi
Added: May 13
Changed: Jul 23
Last Checked: Jul 25 at 3:03PM
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 CBRE - San Diego
Investment Insights
Based on property information with market context.
2438–42 India Street is a well-maintained 7-unit multifamily property built in 1950. The unit mix includes two (2) two-bedroom/one-bath units, four (4) one-bedroom/one-bath units, and one (1) studio/one-bath unit, creating a balanced residential offering.
The property is located in the heart of San Diego’s Little Italy neighborhood. While the public remarks emphasize Little Italy’s walkability and rental fundamentals, this listing is focused on the property’s existing configuration and upkeep.
For investors seeking a small, diversified rental structure, this asset combines studio through two-bedroom layouts under one ownership, with each unit designed around one- or two-bedroom/one-bath functionality.
The property is located in the heart of San Diego’s Little Italy neighborhood. While the public remarks emphasize Little Italy’s walkability and rental fundamentals, this listing is focused on the property’s existing configuration and upkeep.
For investors seeking a small, diversified rental structure, this asset combines studio through two-bedroom layouts under one ownership, with each unit designed around one- or two-bedroom/one-bath functionality.
Key Highlights
- Well‑maintained 7‑unit multifamily property built in 1950 in San Diego’s Little Italy neighborhood
- Unit mix: two 2BD/1BA units (≈800 SF each), four 1BD/1BA units (≈500 SF each), and one studio/1BA unit (≈400 SF)
- Diversified rental layout with studio, one‑bedroom, and two‑bedroom units
Financial Insights For Apartment 5plus
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 | $127.2k | $31.80 |
| − Vacancy | −$7.0k | −$1.75 |
| EGI | $120.2k | $30.05 |
| − OpEx | −$54.1k | −$13.52 |
| NOI | $66.1k | $16.53 |
4,000 SF · lease $31.80/SF/yr · vacancy 5.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$944.5K
$826.4K – $1.10M
NOI $66,112 @ 7.0% cap · market cap 3.15%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.58M
$1.38M – $1.84M
NOI $110,592 @ 7.0% cap · market cap 5.27%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Well-maintained 7-unit multifamily property built in 1950 with a mix of studio, one-bedroom, and two-bedroom units.
Where is this apartment building located?
The property is located at 2438-42 India Street San Diego, CA.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Well‑maintained 7‑unit multifamily property built in 1950 in San Diego’s Little Italy neighborhood; Unit mix: two 2BD/1BA units (≈800 SF each), four 1BD/1BA units (≈500 SF each), and one studio/1BA unit (≈400 SF); Diversified rental layout with studio, one‑bedroom, and two‑bedroom units
