Sherman Heights Income
For Sale
$1,298,000
2567 69 L St, San Diego, CA 92102
Four-unit multifamily property in the heart of Sherman Heights.
Property Size2,468 SF
Lot Size0.16 Acres
Price / SF$525.93
Days on Market100
Property Features for 2567 69 L St
General Information
Standard status
Active
Size
2,468 SF
Lot size
0.16 Acres
Property subtype
Investment
Building Details
Year Built
2006
Listing Agency:
(619) 419-6517
Listed By:
Hannah Kuhami
(619) 419-6517
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Aug 1 at 11:55AM
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 Hannah Kuhami
Investment Insights
Based on property information with market context.
Located in the heart of Sherman Heights, this multifamily property at 2567–69 L Street offers an opportunity to acquire a four-unit income-producing property. The property is situated blocks from Downtown San Diego, within walking distance of restaurants, bars, and cafés. The community consists of four units across two buildings, totaling 2,468 rentable sq. ft. The unit mix includes one 3 bed / 1 bath unit, two 2 bed / 1 bath units, and one 1 bed / 1 bath non-conforming unit. Select units have been upgraded with new tile flooring and new kitchens. The property sits on a 7,089 sq. ft. lot, offering the option to build up or add an additional unit utilizing the existing garage. The location is very walkable (walk score 86) and very bikeable (bike score 71) with good transit (transit score 68).
Key Highlights
- Income‑producing 4‑unit property in Sherman Heights
- Value‑add potential with below‑market rents
- Large 7,089 sq. ft. lot with potential to build up or add an additional unit
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 | $66.6k | $27.00 |
| − Vacancy | −$3.5k | −$1.41 |
| EGI | $63.2k | $25.59 |
| − OpEx | −$18.9k | −$7.68 |
| NOI | $44.2k | $17.91 |
2,468 SF · lease $27.00/SF/yr · vacancy 5.22% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$631.6K
$552.6K – $736.8K
NOI $44,210 @ 7.0% cap · market cap 3.41%
Second Best
Apartment 5plus
$582.7K
$509.9K – $679.9K
NOI $40,791 @ 7.0% cap · market cap 3.14%
Theoretical Best
Specialty Retail
$974.8K
$852.9K – $1.14M
NOI $68,235 @ 7.0% cap · market cap 5.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,244
Businesses Nearby
Explore this area
Business Placement
Demographics for 92102, CA
39,783
Population
15,622
Households
2.5
Avg Household Size
34
Median Age
29%
College-Educated
80%
High-School Grad
4.5 sq mi
ZIP Area
8,841
Density / Sq Mi
$71,319
Median Household Income
$40,142
Median Earnings
$1,855
Median Rent
$646,600
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?
Quadplex - Four-unit multifamily property in the heart of Sherman Heights.
Where is this quadplex located?
The property is located at 2567 69 L St San Diego, CA.
What is the asking price?
The asking price for this property is $1,298,000.
What are key features of this property?
This property features: Income‑producing 4‑unit property in Sherman Heights; Value‑add potential with below‑market rents; Large 7,089 sq. ft. lot with potential to build up or add an additional unit
