Lincoln Park Development
For Sale
$1,020,000
330 Willie James Jones Ave, San Diego, CA 92102
Versatile duplex with significant development potential in San Diego.
Property Size2,518 SF
Lot Size0.24 Acres
Days on Market167
Property Features for 330 Willie James Jones Ave
General Information
Standard status
Active
Size
2,518 SF
Lot size
0.24 Acres
Property subtype
Multi Family Home
Zoning
RM-4 CCHS3
Building Details
Building Size
2,518 SF
Year Built
1940
Buildings
1
Units
2
Listing Agency:
Pacific Sotheby's International Realty
(760) 942-7479
Listed By:
Alexander Ciullo · License #02012544
(619) 944-1876
Source:
Americangrouponline
Added: Mar 27
Changed: Sep 8
Last Checked: Sep 8 at 7:05AM
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 Pacific Sotheby's International Realty
Investment Insights
Based on property information with market context.
Located in Lincoln Park, this duplex offers development potential minutes from downtown San Diego and major highways. The property includes a 5-bedroom, 3-bathroom unit and a separate 1-bedroom, 1.5-bathroom apartment. The site is zoned RM-3-7 and included in the Complete Communities Tier 3 program, allowing for up to 65 buildable units totaling 68,061 square feet, with a 6.5x FAR. The lot dimensions are 71 feet by 150 feet, with setbacks of 10 feet (front) and 5 feet (rear), and a height limit of 40 feet or up to 7 stories. The property is located within an Opportunity Zone, offering tax benefits, and is designated as a Sustainable Development Area. The property is constructed with a wood frame and stucco, offering seven parking spaces. The location provides easy access to I-805 and SR-94. The property has been upgraded over the years to enhance its appeal and functionality. The bike score is 50, indicating it is bikeable, the walk score is 70, indicating it is somewhat walkable, and the transit score is 49, indicating some transit options are available.
Key Highlights
- Development Potential: Zoned for up to 65 buildable units with a 6.5x FAR, totaling 68,061 SF.
- Inclusion in Complete Communities Tier 3 Program supports potential future redevelopment.
- Opportunity Zone location offers potential tax benefits.
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
$45,106
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
4.42%
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%
$902,120
$902.1K
Cap Rate 7%
$644,371
$644.4K
Cap Rate 9%
$501,178
$501.2K
Market Conditions
NOI Build-Up for 2,518 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
$68.0K $27.00/SF
− Vacancy
−$3.5K −$1.41/SF
EGI
$64.4K $25.59/SF
− OpEx
−$19.3K −$7.68/SF
NOI
$45.1K $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 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%
$902,120
Cap Rate 7%
$644,371
Cap Rate 9%
$501,178
Alternative Uses
Best Use
Multifamily LT 5
$644.4K
$563.8K – $751.8K
NOI $45,106 @ 7.0% cap · market cap 4.42%
Second Best
Apartment 5plus
$594.5K
$520.2K – $693.6K
NOI $41,618 @ 7.0% cap · market cap 4.08%
Theoretical Best
Specialty Retail
$994.5K
$870.2K – $1.16M
NOI $69,618 @ 7.0% cap · market cap 6.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
775
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Versatile duplex with significant development potential in San Diego.
Where is this residential land & home lot located?
The property is located at 330 Willie James Jones Ave San Diego, CA.
What is the asking price?
The asking price for this property is $1,020,000.
What are key features of this property?
This property features: Development Potential: Zoned for up to 65 buildable units with a 6.5x FAR, totaling 68,061 SF.; Inclusion in Complete Communities Tier 3 Program supports potential future redevelopment.; Opportunity Zone location offers potential tax benefits.
