Two-Unit Duplex with
For Sale
$1,099,000
Pending
2816-18 D Ave, National City, CA 91950
Two separate residences provide flexible living arrangements with central HVAC, an attached garage, and a low-maintenance yard.
Property Size2,300 SF
Days on Market49
Property Features for 2816-18 D Ave
General Information
Standard status
Pending
Size
2,300 SF
Property subtype
Multi-Family
Zoning
R-4
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 4BR/3BA, 1 x 1BR/1BA
Multifamily Units
2
Amenities
central air conditioning
laundry hookups
attached garage
Building Details
Year Built
2019
Listing Agency:
eXp Realty of California, Inc.
Listed By:
Voltaire Lepe offers@lepetendwell.com
Source:
Viewsandiegorealestate
Added: Jul 14
Changed: Aug 30
Last Checked: Aug 30 at 9:05PM
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 eXp Realty of California, Inc.
Investment Insights
Based on property information with market context.
Completed in 2019, this 2,300-square-foot duplex contains two independent residences. The primary home offers four bedrooms and three bathrooms, while the second residence includes one bedroom and one bathroom. Central heating and air conditioning serve both units, and the main residence has an attached two-car garage plus laundry hookups. Rain gutters and a low-maintenance yard add practical ownership features.
The property is zoned R-4 and is located near shopping, restaurants, schools, parks, public transportation, Plaza Bonita, the 24th Street Trolley Station, I-5, I-805, and SR-54. Downtown San Diego, Navy bases, San Diego Bay, and the U.S.-Mexico border are also identified within the surrounding area. The two-residence configuration supports owner-occupancy, multigenerational living, or separate household use.
The property is zoned R-4 and is located near shopping, restaurants, schools, parks, public transportation, Plaza Bonita, the 24th Street Trolley Station, I-5, I-805, and SR-54. Downtown San Diego, Navy bases, San Diego Bay, and the U.S.-Mexico border are also identified within the surrounding area. The two-residence configuration supports owner-occupancy, multigenerational living, or separate household use.
Key Highlights
- Two residences on one lot: a 4‑bedroom, 3‑bath home and a 1‑bedroom, 1‑bath second unit
- 2,300 SF duplex built in 2019
- Central heating and air conditioning in both residences
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
$41,210
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
3.75%
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%
$824,200
$824.2K
Cap Rate 7%
$588,714
$588.7K
Cap Rate 9%
$457,889
$457.9K
Market Conditions
NOI Build-Up for 2,300 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
$62.1K $27.00/SF
− Vacancy
−$3.2K −$1.40/SF
EGI
$58.9K $25.60/SF
− OpEx
−$17.7K −$7.68/SF
NOI
$41.2K $17.92/SF
Area
San Diego County, CA
Vacancy
5.20%
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%
$824,200
Cap Rate 7%
$588,714
Cap Rate 9%
$457,889
Alternative Uses
Best Use
Multifamily LT 5
$588.7K
$515.1K – $686.8K
NOI $41,210 @ 7.0% cap · market cap 3.75%
Second Best
Apartment 5plus
$545.9K
$477.7K – $636.9K
NOI $38,216 @ 7.0% cap · market cap 3.48%
Theoretical Best
Office A
$1.05M
$922.1K – $1.23M
NOI $73,765 @ 7.0% cap · market cap 6.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,331
Businesses Nearby
Explore this area
Business Placement
Demographics for 91950, CA
57,849
Population
19,049
Households
3
Avg Household Size
36
Median Age
16%
College-Educated
76%
High-School Grad
7.3 sq mi
ZIP Area
7,925
Density / Sq Mi
$63,858
Median Household Income
$34,013
Median Earnings
$1,600
Median Rent
$580,700
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?
Duplex - Two separate residences provide flexible living arrangements with central HVAC, an attached garage, and a low-maintenance yard.
Where is this duplex located?
The property is located at 2816-18 D Ave National City, CA.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: Two residences on one lot: a 4‑bedroom, 3‑bath home and a 1‑bedroom, 1‑bath second unit; 2,300 SF duplex built in 2019; Central heating and air conditioning in both residences
