R-2 Zoned
For Sale
$650,000
290 35th St, San Diego, CA 92102
Residential Income, San Diego, CA
Property Size1,450 SF
Lot Size0.12 Acres
Price / SF$448.28
Days on Market102
Property Features for 290 35th St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-2
Bedrooms
3
Bathrooms
3
Full bathrooms
2
Half bathrooms
1
Rooms
Bedroom 3, Bedroom 2, Bathroom 2, Bathroom 1, Bathroom 3, Bedroom 1
Fencing
Gate
Subdivision
LOGAN HEIGHTS
Directions
From Market St, head south on 36th st. Head West on K st. Turn south again onto 35th st.
Standard status
Active
APN
5453400500
Size
1,450 SF
Lot size
0.12 Acres
Building Details
Year built
2020
Floors in Building
2
Number of units
2
Listing Agency:
eXp Realty of California, Inc.
(888) 584-9427
Listed By:
Guillermo Carrillo · License #02032647
(619) 430-8406
Added: May 20
Changed: Aug 25
Last Checked: Aug 29 at 5:06PM
MLS# 260012263
Copyright © 2026 San Diego MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This San Diego duplex sits on a 0.1213-acre R-2-zoned lot and contains 1,450 square feet. The property was built in 2020 and includes three bedrooms, three bathrooms, and a gated fence. Renovation is identified as part of the current condition, presenting a defined repositioning consideration for a future owner.
Located at 290 35th St in the 92102 ZIP code, the property is positioned within San Diego. The zoning is stated to support multiple by-right development options, including the potential addition of 2 dwelling units. Existing duplex configuration and the stated development potential provide a combination of current residential income use and possible expansion.
Located at 290 35th St in the 92102 ZIP code, the property is positioned within San Diego. The zoning is stated to support multiple by-right development options, including the potential addition of 2 dwelling units. Existing duplex configuration and the stated development potential provide a combination of current residential income use and possible expansion.
Key Highlights
- Duplex on a 0.1213‑acre lot
- 1,450 square feet of property size
- R‑2 zoning with potential for 2 additional dwelling units
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
$25,974
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
4.00%
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%
$519,480
$519.5K
Cap Rate 7%
$371,057
$371.1K
Cap Rate 9%
$288,600
$288.6K
Market Conditions
NOI Build-Up for 1,450 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
$39.2K $27.00/SF
− Vacancy
−$2.0K −$1.41/SF
EGI
$37.1K $25.59/SF
− OpEx
−$11.1K −$7.68/SF
NOI
$26.0K $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%
$519,480
Cap Rate 7%
$371,057
Cap Rate 9%
$288,600
Alternative Uses
Best Use
Multifamily LT 5
$371.1K
$324.7K – $432.9K
NOI $25,974 @ 7.0% cap · market cap 4.00%
Second Best
Apartment 5plus
$342.4K
$299.6K – $399.4K
NOI $23,966 @ 7.0% cap · market cap 3.69%
Theoretical Best
Specialty Retail
$572.7K
$501.1K – $668.2K
NOI $40,090 @ 7.0% cap · market cap 6.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,019
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Existing multifamily property with renovation needs and additional dwelling-unit potential.
Where is this duplex located?
The property is located at 290 35th St San Diego, CA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Duplex on a 0.1213‑acre lot; 1,450 square feet of property size; R‑2 zoning with potential for 2 additional dwelling units
