Triplex with Alley
3019 23 Martin Ave, San Diego, CA 92113
For Sale
$1,299,995
Pending
Three distinct residences feature separate fenced outdoor areas, laundry hookups, and individual gas meters.
Property Size2,610 SF
Lot Size0.18 Acres
Days on Market50
Property Features for 3019 23 Martin Ave
General Information
Standard status
Size
Lot size
Property subtype
Site & Location
Neighborhood
Highway Access
Road Access
Public Transit
Utilities to Site
Units
Unit Mix
Multifamily Units
Amenities
fenced outdoor areas
low-maintenance turf yards
laundry hookups
Building Details
Building Size
Year Built
Buildings
Units
Listing Agency:
Liv Modrn
Listed By:
Gary Cashman · License CA #01290085
(760) 822-1235
Source:
Elliman
Added: Sep 26
Changed: Oct 29
Last Checked: Nov 12 at 7:50AM
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 Liv Modrn
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Investment Insights
Based on property information with market context.
Built in 1943, this triplex comprises a front residence with a 3-bedroom, 2-bath home and an attached, separately accessed 1-bedroom, 1-bath unit. A detached rear residence adds 3 bedrooms and 1 bath. The property occupies an 8,017-square-foot lot, with fenced outdoor space for each residence and a private driveway reached from the alley. Improvements include stainless steel appliances, quartz countertops, luxury vinyl plank flooring, custom tile, new roofs and windows, and laundry hookups. Separate gas meters, individual water heaters, and two water meters serve the property.
The site has both street and alley access in Logan Heights, near Downtown San Diego. Major freeways, the Coronado Bridge, San Diego Bay, beaches, dining, shopping, coffee shops, breweries, and nightlife are identified among the nearby destinations. Walk Score is 70, Bike Score is 59, and Transit Score is 51.
The site has both street and alley access in Logan Heights, near Downtown San Diego. Major freeways, the Coronado Bridge, San Diego Bay, beaches, dining, shopping, coffee shops, breweries, and nightlife are identified among the nearby destinations. Walk Score is 70, Bike Score is 59, and Transit Score is 51.
Key Highlights
- Three residences: front 3‑bedroom, 2‑bath home, attached 1‑bedroom, 1‑bath unit, and detached 3‑bedroom, 1‑bath home
- 8,017 sq. ft. lot with street and alley access
- Private driveway accessed from the alley
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,754
Cap Rate
3.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$935,080
$935.1K
Cap Rate 7%
$667,914
$667.9K
Cap Rate 9%
$519,489
$519.5K
Market Conditions
NOI Build-Up for 2,610 SF
Gross rent
$70.5K $27.00/SF
− Vacancy
−$3.7K −$1.41/SF
EGI
$66.8K $25.59/SF
− OpEx
−$20.0K −$7.68/SF
NOI
$46.8K $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 Rate 5%
$935,080
Cap Rate 7%
$667,914
Cap Rate 9%
$519,489
Alternative Uses
Best Use
Multifamily LT 5
$667.9K
$584.4K – $779.2K
NOI $46,754 @ 7.0% cap · market cap 3.60%
Second Best
Apartment 5plus
$616.3K
$539.2K – $719.0K
NOI $43,138 @ 7.0% cap · market cap 3.32%
Theoretical Best
Specialty Retail
$1.03M
$902.0K – $1.20M
NOI $72,161 @ 7.0% cap · market cap 5.55%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,443
Businesses Nearby
Explore this area
Business Placement
Demographics for 92113, CA
50,457
Population
14,443
Households
3.5
Avg Household Size
32
Median Age
11%
College-Educated
69%
High-School Grad
4.5 sq mi
ZIP Area
11,213
Density / Sq Mi
$59,177
Median Household Income
$31,099
Median Earnings
$1,608
Median Rent
$559,100
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in San Diego, CA
Properties on Market for Triplexes in San Diego
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Three distinct residences feature separate fenced outdoor areas, laundry hookups, and individual gas meters.
Where is this triplex located?
The property is located at 3019 23 Martin Ave San Diego, CA.
What is the asking price?
The asking price for this property is $1,299,995.
What are key features of this property?
This property features: Three residences: front 3‑bedroom, 2‑bath home, attached 1‑bedroom, 1‑bath unit, and detached 3‑bedroom, 1‑bath home; 8,017 sq. ft. lot with street and alley access; Private driveway accessed from the alley
