Five-Unit Apartment Property with
New
For Sale
$2,199,000
2915 Ulric St, San Diego, CA 92111
Four leased accessory units accompany a vacant three-bedroom home, with six off-street spaces and separate electric meters.
Property Size3,923 SF
Lot Size0.13 Acres
Price / SF$560.54
Days on Market2
Property Features for 2915 Ulric St
General Information
Standard status
Active
Size
3,923 SF
Total Parking Spaces
6
Lot size
0.13 Acres
Property subtype
Multi-Family
Site & Location
Neighborhood
Clairemont Mesa West
Highway Access
Yes
Units
Unit Mix
4 x 2BR ADU, 1 x 3BR/2BA
Multifamily Units
5
Individually Metered Utilities
electricity
Additional Details
Tenant in Place
Yes
Amenities
rooftop solar
exterior storage
Building Details
Buildings
3
Listing Agency:
Gene Bowman Realty
Listed By:
Christian Ballow Christian@genebowman.com
Source:
Viewsandiegorealestate
Added: Nov 3
Changed: Nov 4
Last Checked: Nov 4 at 2:14PM
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 Gene Bowman Realty
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Investment Insights
Based on property information with market context.
This five-unit apartment property combines a refreshed 1942 front residence with four two-bedroom accessory dwelling units. The home offers three bedrooms and two bathrooms, plus a kitchen with double wall ovens, a gas cooktop, and a center island. The four ADUs were completed in 2026 across two two-story buildings. Their interiors include oak-look flooring, recessed lighting, shaker-style kitchens with stainless appliances, and bathrooms with glass walk-in showers. Each ADU has a stacked washer and dryer, ductless heat pump, and water heater.
The property contains 3,923 square feet of living space on a 5,700-square-foot lot. Four units are leased, while the front home is vacant. All five residences have separate electric meters. Site features include six off-street parking spaces, rooftop solar, and exterior storage.
The property contains 3,923 square feet of living space on a 5,700-square-foot lot. Four units are leased, while the front home is vacant. All five residences have separate electric meters. Site features include six off-street parking spaces, rooftop solar, and exterior storage.
Key Highlights
- Five units, including four two‑bedroom ADUs and a three‑bedroom, two‑bathroom front home
- Four ADUs completed in 2026 in two two‑story buildings
- 3,923 square feet of living space on a 5,700‑square‑foot lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,840
Cap Rate
2.95%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,296,800
$1.3M
Cap Rate 7%
$926,286
$926.3K
Cap Rate 9%
$720,444
$720.4K
Market Conditions
NOI Build-Up for 3,923 SF
Gross rent
$124.8K $31.80/SF
− Vacancy
−$6.9K −$1.75/SF
EGI
$117.9K $30.05/SF
− OpEx
−$53.1K −$13.52/SF
NOI
$64.8K $16.53/SF
Area
San Diego, CA
Vacancy
5.50%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,296,800
Cap Rate 7%
$926,286
Cap Rate 9%
$720,444
Alternative Uses
Best Use
Apartment 5plus
$926.3K
$810.5K – $1.08M
NOI $64,840 @ 7.0% cap · market cap 2.95%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.55M
$1.36M – $1.81M
NOI $108,463 @ 7.0% cap · market cap 4.93%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
5
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
378
Businesses Nearby
Explore this area
Business Placement
Demographics for 92111, CA
46,686
Population
17,624
Households
2.6
Avg Household Size
37
Median Age
43%
College-Educated
88%
High-School Grad
8.5 sq mi
ZIP Area
5,492
Density / Sq Mi
$95,081
Median Household Income
$43,215
Median Earnings
$2,049
Median Rent
$754,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Four leased accessory units accompany a vacant three-bedroom home, with six off-street spaces and separate electric meters.
Where is this apartment building located?
The property is located at 2915 Ulric St San Diego, CA.
What is the asking price?
The asking price for this property is $2,199,000.
What are key features of this property?
This property features: Five units, including four two‑bedroom ADUs and a three‑bedroom, two‑bathroom front home; Four ADUs completed in 2026 in two two‑story buildings; 3,923 square feet of living space on a 5,700‑square‑foot lot
