Tenant-Occupied Triplex
For Sale
Contact for pricing
3013-3017 S Mission Road, Fallbrook, CA 92028
Triplex with three 1-bedroom, 1-bath units, including a detached duplex, all tenant occupied for immediate rental income.
Property Size1,272 SF
Lot Size0.67 Acres
Price / SF$471.70
Days on Market78
Property Features for 3013-3017 S Mission Road
General Information
Standard status
Active
Size
1,272 SF
Lot size
0.67 Acres
Property subtype
Multifamily
Zoning
Assessor
Occupancy
100%
Additional Details
Business Included
Yes
Multifamily Units
3
Building Details
Buildings
1
Units
3
Tenancy
Multi
Listing Agency:
AAA Realty & Investments
(768) 580-0204
Listed By:
Gregg Alexander · License #00926029
Source:
Crexi
Added: Jun 13
Changed: Aug 8
Last Checked: Jul 31 at 12:09PM
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 AAA Realty & Investments
Investment Insights
Based on property information with market context.
This for-sale triplex includes three units configured as one 1-bedroom, 1-bath home and a separate detached duplex with two 1-bedroom, 1-bath units. The standalone home is approximately 480 square feet, while each side of the detached duplex is approximately 396 square feet. The property sits on a very large lot described as about 2/3 acre, and all three units are currently tenant occupied.
Located in Fallbrook, CA, the setup offers the option to continue collecting rent from all three units, or to occupy one unit while renting the other two. Please do not disturb tenants.
All units share the same basic layout of one bedroom and one bathroom, providing a straightforward, repeatable residential income configuration within one property.
Located in Fallbrook, CA, the setup offers the option to continue collecting rent from all three units, or to occupy one unit while renting the other two. Please do not disturb tenants.
All units share the same basic layout of one bedroom and one bathroom, providing a straightforward, repeatable residential income configuration within one property.
Key Highlights
- Triplex in Fallbrook, CA with three 1‑bedroom, 1‑bath units
- Includes one 480 SF home plus a detached duplex with each side approximately 396 SF
- All three units are currently tenant occupied for immediate rental income
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
$22,791
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
3.80%
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%
$455,820
$455.8K
Cap Rate 7%
$325,586
$325.6K
Cap Rate 9%
$253,233
$253.2K
Market Conditions
NOI Build-Up for 1,272 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
$34.3K $27.00/SF
− Vacancy
−$1.8K −$1.40/SF
EGI
$32.6K $25.60/SF
− OpEx
−$9.8K −$7.68/SF
NOI
$22.8K $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%
$455,820
Cap Rate 7%
$325,586
Cap Rate 9%
$253,233
Alternative Uses
Best Use
Multifamily LT 5
$325.6K
$284.9K – $379.9K
NOI $22,791 @ 7.0% cap · market cap 3.80%
Second Best
Apartment 5plus
$301.9K
$264.2K – $352.3K
NOI $21,135 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$582.8K
$509.9K – $679.9K
NOI $40,795 @ 7.0% cap · market cap 6.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
86
Businesses Nearby
Explore this area
Business Placement
Demographics for 92028, CA
51,614
Population
17,985
Households
2.9
Avg Household Size
41
Median Age
35%
College-Educated
87%
High-School Grad
116.7 sq mi
ZIP Area
442
Density / Sq Mi
$102,346
Median Household Income
$46,862
Median Earnings
$1,743
Median Rent
$781,200
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?
Triplex - Triplex with three 1-bedroom, 1-bath units, including a detached duplex, all tenant occupied for immediate rental income.
Where is this triplex located?
The property is located at 3013-3017 S Mission Road Fallbrook, CA.
What is the asking price?
The asking price for this property is $600,000.
What are key features of this property?
This property features: Triplex in Fallbrook, CA with three 1‑bedroom, 1‑bath units; Includes one 480 SF home plus a detached duplex with each side approximately 396 SF; All three units are currently tenant occupied for immediate rental income
