Four-Unit Apartment
For Sale
$1,895,000
2520 collier Ave, San Diego, CA 92116
Well-maintained multifamily property with resident parking, private outdoor spaces, shared laundry, and canyon views from rear units.
Property Size3,476 SF
Days on Market9
Property Features for 2520 collier Ave
General Information
Standard status
Active
Size
3,476 SF
Property subtype
Investment
Building Details
Building Size
3,476 SF
Year Built
1973
Units
4
Listing Agency:
Ascent Real Estate
Listed By:
Penny Nathan · License #01275714
(619) 985-7369
Source:
Elliman
Added: Sep 18
Changed: Sep 25
Last Checked: Sep 24 at 1:45PM
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 Ascent Real Estate
Investment Insights
Based on property information with market context.
Built in 1973, this four-unit apartment property includes four approximately 800-square-foot residences, each arranged with two bedrooms and one bathroom. Every unit has a balcony or patio, generous closets, and access to a shared storage room. Kitchens include a range/oven, refrigerator, and dishwasher, while the property also provides shared on-site laundry with Wash service contract machines.
The stucco building features Spanish tile roof accents, a decorative front façade, arched color detailing, and wood trim. Tandem off-street parking is provided for each resident. Rear residences overlook the canyon toward Mission Valley, and SB721 inspections and related work have been completed. The property is located at 2520 Collier Ave in San Diego's University Heights area, with nearby restaurants, coffee shops, Trolley Barn Park, and freeway access. Walk Score is 91, Transit Score is 52, and Bike Score is 55.
The stucco building features Spanish tile roof accents, a decorative front façade, arched color detailing, and wood trim. Tandem off-street parking is provided for each resident. Rear residences overlook the canyon toward Mission Valley, and SB721 inspections and related work have been completed. The property is located at 2520 Collier Ave in San Diego's University Heights area, with nearby restaurants, coffee shops, Trolley Barn Park, and freeway access. Walk Score is 91, Transit Score is 52, and Bike Score is 55.
Key Highlights
- Four approximately 800‑square‑foot units, each with 2 bedrooms and 1 bathroom
- Tandem off‑street parking provided for each resident
- Balcony or patio included with every residence
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
$62,267
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
3.29%
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%
$1,245,340
$1.2M
Cap Rate 7%
$889,529
$889.5K
Cap Rate 9%
$691,856
$691.9K
Market Conditions
NOI Build-Up for 3,476 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
$93.9K $27.00/SF
− Vacancy
−$4.9K −$1.41/SF
EGI
$89.0K $25.59/SF
− OpEx
−$26.7K −$7.68/SF
NOI
$62.3K $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 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%
$1,245,340
Cap Rate 7%
$889,529
Cap Rate 9%
$691,856
Alternative Uses
Best Use
Multifamily LT 5
$889.5K
$778.3K – $1.04M
NOI $62,267 @ 7.0% cap · market cap 3.29%
Second Best
Apartment 5plus
$820.7K
$718.2K – $957.5K
NOI $57,452 @ 7.0% cap · market cap 3.03%
Theoretical Best
Specialty Retail
$1.37M
$1.20M – $1.60M
NOI $96,104 @ 7.0% cap · market cap 5.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
3,690
Businesses Nearby
Explore this area
Business Placement
Demographics for 92116, CA
31,523
Population
17,827
Households
1.8
Avg Household Size
37
Median Age
58%
College-Educated
96%
High-School Grad
3.4 sq mi
ZIP Area
9,271
Density / Sq Mi
$95,775
Median Household Income
$63,420
Median Earnings
$1,903
Median Rent
$898,500
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained multifamily property with resident parking, private outdoor spaces, shared laundry, and canyon views from rear units.
Where is this quadplex located?
The property is located at 2520 collier Ave San Diego, CA.
What is the asking price?
The asking price for this property is $1,895,000.
What are key features of this property?
This property features: Four approximately 800‑square‑foot units, each with 2 bedrooms and 1 bathroom; Tandem off‑street parking provided for each resident; Balcony or patio included with every residence
