8-Unit Apartment
For Sale
$3,250,000
2934 F Street, San Diego, CA 92102
Residential Income, San Diego, CA
Property Size6,245 SF
Lot Size0.16 Acres
Price / SF$520.42
Days on Market330
Property Features for 2934 F Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM-2-5
Bedrooms
13
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 2, Bedroom 6, Bedroom 5, Bedroom 7, Bedroom 4, Bathroom 6, Bedroom 12, Bathroom 5, Bedroom 1, Bedroom 10, Bathroom 1, Bedroom 8, Bedroom 2, Bathroom 3, Bathroom 4, Bedroom 9, Bedroom 11, Bathroom 8, Bedroom 13, Bedroom 3, Bathroom 7
Parking
6
Parking features
Garage
Directions
30th St south to F St sign at alley entrance which leads to rear of building.
Subdivision
SAN DIEGO (92102)
Standard status
Active
APN
539-592-15
Size
6,245 SF
Lot size
0.16 Acres
Utilities
Cooling system
Wall/Window Unit(s)
Building Details
Floors in Building
2
Number of units
8
Flooring type
Vinyl, Carpet - Full
Roof type
Composition
Listing Agency:
Pacific R.E.Services, Inc
(619) 284-1070
Listed By:
Jeff Horvitz · License #01318867
(619) 823-1335
Added: Oct 16, 2025
Changed: Sep 5
Last Checked: Sep 10 at 8:06AM
MLS# 250041832
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 6,245-square-foot apartment property occupies 0.1607 acres and contains eight units. The configuration includes three 2 BR/1 BA units, two 2 BR/1.5 BA units, and three 1 BR/1 BA units. All units are occupied, with tenants on month-to-month leases. Property features include vinyl and full carpet flooring, wall/window unit cooling, garage parking, and a composition roof. The zoning designation is RM-2-5.
Located at 2934 F Street in San Diego's Golden Hill neighborhood, the property is minutes from Downtown, Balboa Park, South Park, and North Park. Its San Diego location places the apartment building within reach of several established urban districts and nearby employment centers.
Located at 2934 F Street in San Diego's Golden Hill neighborhood, the property is minutes from Downtown, Balboa Park, South Park, and North Park. Its San Diego location places the apartment building within reach of several established urban districts and nearby employment centers.
Key Highlights
- 8‑unit apartment property on 0.1607 acres
- 6,245 square feet of property size
- Unit mix includes 3 2 BR/1 BA, 2 2 BR/1.5 BA, and 3 1 BR/1 BA 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
$103,218
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
3.18%
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%
$2,064,360
$2.1M
Cap Rate 7%
$1,474,543
$1.5M
Cap Rate 9%
$1,146,867
$1.1M
Market Conditions
NOI Build-Up for 6,245 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
$198.6K $31.80/SF
− Vacancy
−$10.9K −$1.75/SF
EGI
$187.7K $30.05/SF
− OpEx
−$84.5K −$13.52/SF
NOI
$103.2K $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 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%
$2,064,360
Cap Rate 7%
$1,474,543
Cap Rate 9%
$1,146,867
Alternative Uses
Best Use
Apartment 5plus
$1.47M
$1.29M – $1.72M
NOI $103,218 @ 7.0% cap · market cap 3.18%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.47M
$2.16M – $2.88M
NOI $172,662 @ 7.0% cap · market cap 5.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
8
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,433
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied multifamily property with one- and two-bedroom apartments under month-to-month tenancies.
Where is this apartment building located?
The property is located at 2934 F Street San Diego, CA.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: 8‑unit apartment property on 0.1607 acres; 6,245 square feet of property size; Unit mix includes 3 2 BR/1 BA, 2 2 BR/1.5 BA, and 3 1 BR/1 BA units
