Updated Residential Income Property with Ocean
For Sale
$475,000
353-1930 W San Marcos Blvd, San Marcos, CA 92069
Two-bedroom home with owned solar, flexible bonus space, and access to extensive Palomar Estates West amenities.
Property Size1,536 SF
Price / SF$309.24
Days on Market62
Property Features for 353-1930 W San Marcos Blvd
General Information
Standard status
Active
Size
1,536 SF
Property subtype
Manufactured In Park
Amenities
pool
sauna
spa
billiards
pickleball
tennis
library
ping pong
lawn bowling
shuffle board
exercise facility
Listing Agency:
Real Brokerage Technologies
(619) 885-0498
Listed By:
Michael Fox
(619) 885-0498
Source:
Exprealty
Added: Jun 10
Changed: Aug 9
Last Checked: Aug 10 at 8:35AM
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 Real Brokerage Technologies
Investment Insights
Based on property information with market context.
This 2-bedroom, 2-bath residential income property offers 1,536 square feet with ocean views and a range of functional improvements. The interior includes wood laminate flooring, an updated kitchen and bathrooms, drywalled walls, double-pane windows, solar tubes, and cedar-lined closets. A tankless water heater, owned solar system, exterior deck, fruit trees, and a bonus workshop or room add practical utility. The property is rent controlled and includes maintained exterior paint and landscaping.
Located at 353-1930 W San Marcos Blvd in San Marcos, the home is within Palomar Estates West. Community amenities include a pool, sauna, spa, billiards, pickleball, tennis, library, ping pong, lawn bowling, shuffleboard, and an exercise facility. Organized activities include dances, movie nights, golf and billiards clubs, card club gatherings, meditation classes, water aerobics, potlucks, and holiday dinners.
Located at 353-1930 W San Marcos Blvd in San Marcos, the home is within Palomar Estates West. Community amenities include a pool, sauna, spa, billiards, pickleball, tennis, library, ping pong, lawn bowling, shuffleboard, and an exercise facility. Organized activities include dances, movie nights, golf and billiards clubs, card club gatherings, meditation classes, water aerobics, potlucks, and holiday dinners.
Key Highlights
- 2‑bedroom, 2‑bath home with 1,536 Sq feet
- Ocean views, exterior deck, fruit trees, and bonus workshop/room
- Owned solar system and tankless water heater
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
$25,521
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
5.37%
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%
$510,420
$510.4K
Cap Rate 7%
$364,586
$364.6K
Cap Rate 9%
$283,567
$283.6K
Market Conditions
NOI Build-Up for 1,536 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
$48.8K $31.80/SF
− Vacancy
−$2.4K −$1.59/SF
EGI
$46.4K $30.21/SF
− OpEx
−$20.9K −$13.59/SF
NOI
$25.5K $16.62/SF
Area
San Diego County, CA
Vacancy
5.00%
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%
$510,420
Cap Rate 7%
$364,586
Cap Rate 9%
$283,567
Alternative Uses
Best Use
Apartment 5plus
$364.6K
$319.0K – $425.4K
NOI $25,521 @ 7.0% cap · market cap 5.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$703.7K
$615.8K – $821.0K
NOI $49,262 @ 7.0% cap · market cap 10.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,491
Businesses Nearby
Explore this area
Business Placement
Demographics for 92069, CA
49,407
Population
15,687
Households
3.1
Avg Household Size
34
Median Age
35%
College-Educated
83%
High-School Grad
18.5 sq mi
ZIP Area
2,671
Density / Sq Mi
$93,065
Median Household Income
$41,634
Median Earnings
$2,078
Median Rent
$714,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Residential income property - Two-bedroom home with owned solar, flexible bonus space, and access to extensive Palomar Estates West amenities.
Where is this residential income property located?
The property is located at 353-1930 W San Marcos Blvd San Marcos, CA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 2‑bedroom, 2‑bath home with 1,536 Sq feet; Ocean views, exterior deck, fruit trees, and bonus workshop/room; Owned solar system and tankless water heater
