Apartment Building Across From Azalea
For Sale
$2,200,000
3018 44th St, San Diego, CA 92105
Eight one-bedroom apartments include dedicated parking and on-site laundry in a walkable San Diego neighborhood.
Property Size3,456 SF
Days on Market49
Property Features for 3018 44th St
General Information
Standard status
Active
Size
3,456 SF
Property subtype
Investment
Site & Location
Neighborhood
Swan Canyon
Building Details
Building Size
3,456 SF
Year Built
1984
Units
8
Listed By:
Luda Phipps · License #02139266
(619) 277-5474
Source:
Elliman
Added: Sep 6
Changed: Oct 24
Last Checked: Oct 23 at 10:23AM
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 Luda Phipps
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Investment Insights
Based on property information with market context.
This 1984 apartment property at 3018 44th St comprises eight one-bedroom, one-bathroom units. Each apartment has a dedicated parking space, and residents have access to on-site laundry. Improvements include a move-out renovation in Unit 3, new stoves in Units 5 and 8, a new water heater and gas valve installed in 10/2024, and additional updates to Units 1 and 8. The property also has a completed SB721 inspection report and new rear fencing completed in 02/2026.
The property is in City Heights, directly across Fairmount Ave from Azalea Park. Walkability, schools, shopping, dining, and public transportation serve the surrounding area, with a 93 Walk Score, 59 Bike Score, and 55 Transit Score. I-805 and SR-15 provide freeway access, with Balboa Park approximately 10 minutes away and SDSU approximately 15 minutes away.
The property is in City Heights, directly across Fairmount Ave from Azalea Park. Walkability, schools, shopping, dining, and public transportation serve the surrounding area, with a 93 Walk Score, 59 Bike Score, and 55 Transit Score. I-805 and SR-15 provide freeway access, with Balboa Park approximately 10 minutes away and SDSU approximately 15 minutes away.
Key Highlights
- Eight 1‑bedroom/1‑bathroom apartment units
- Dedicated parking space for each unit
- On‑site laundry for residents
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$64,665
Cap Rate
2.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,293,300
$1.3M
Cap Rate 7%
$923,786
$923.8K
Cap Rate 9%
$718,500
$718.5K
Market Conditions
NOI Build-Up for 3,456 SF
Gross rent
$124.4K $36.00/SF
− Vacancy
−$6.8K −$1.98/SF
EGI
$117.6K $34.02/SF
− OpEx
−$52.9K −$15.31/SF
NOI
$64.7K $18.71/SF
Area
ZIP 92105
Vacancy
5.50%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,293,300
Cap Rate 7%
$923,786
Cap Rate 9%
$718,500
Alternative Uses
Best Use
Apartment 5plus
$923.8K
$808.3K – $1.08M
NOI $64,665 @ 7.0% cap · market cap 2.94%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.37M
$1.19M – $1.59M
NOI $95,551 @ 7.0% cap · market cap 4.34%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
470
Businesses Nearby
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Business Placement
Demographics for 92105, CA
66,579
Population
23,862
Households
2.8
Avg Household Size
34
Median Age
21%
College-Educated
71%
High-School Grad
5.8 sq mi
ZIP Area
11,479
Density / Sq Mi
$65,174
Median Household Income
$34,469
Median Earnings
$1,687
Median Rent
$593,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Eight one-bedroom apartments include dedicated parking and on-site laundry in a walkable San Diego neighborhood.
Where is this apartment building located?
The property is located at 3018 44th St San Diego, CA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Eight 1‑bedroom/1‑bathroom apartment units; Dedicated parking space for each unit; On‑site laundry for residents
