Duplex with Private Yard
For Sale
Contact for pricing
3634-3636 Central Avenue, San Diego, CA 92105
Two separately metered units each offer private yards and off-street parking, with individual gas and electric service.
Property Size1,330 SF
Price / SF$654.14
Days on Market59
Property Features for 3634-3636 Central Avenue
General Information
Standard status
Active
Size
1,330 SF
Total Parking Spaces
8
Property subtype
Multifamily
Zoning
R-2
Additional Details
Multifamily Units
2
Building Details
Year Built
9999
Buildings
2
Units
2
Tenancy
Multi
Listing Agency:
Cali-Land
Listed By:
Linh Huth · License #02154197
Source:
Crexi
Added: Jun 15
Changed: Aug 7
Last Checked: Aug 11 at 8:01PM
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 Cali-Land
Investment Insights
Based on property information with market context.
This duplex consists of a front unit at 3636 Central and a back unit at 3634 Central Avenue. The front unit has 2 bedrooms and 1 full bathroom, plus a converted garage that functions as an additional bedroom with a full bath. It also includes parking for up to four cars and has its own private yard with a gate. The back unit includes 1 bedroom and 1 full bath, with a separate mini-split AC, spacious storage, and a separate yard with parking for up to four cars.
Each unit has private outdoor space with gate access and is supported by separated utility service, including separate gas and electric meters. The property is offered for sale in its current condition, with no repairs planned by the sellers.
The layout supports rental use with clear separation between the front and back homes, including private yards, dedicated parking, and independent metering. For tenants or buyers seeking a duplex configuration where each unit can operate with its own utilities and outdoor area, this property presents a practical, ready-to-rent setup based on the existing unit improvements.
Each unit has private outdoor space with gate access and is supported by separated utility service, including separate gas and electric meters. The property is offered for sale in its current condition, with no repairs planned by the sellers.
The layout supports rental use with clear separation between the front and back homes, including private yards, dedicated parking, and independent metering. For tenants or buyers seeking a duplex configuration where each unit can operate with its own utilities and outdoor area, this property presents a practical, ready-to-rent setup based on the existing unit improvements.
Key Highlights
- Two separately metered units: front at 3636 Central and back at 3634 Central, each with private yard and gated access
- Front unit (3636 Central) offers 3 bedrooms, 2 full bathrooms, and off‑street parking for up to 4 cars
- Front unit includes a converted garage bedroom plus 2nd full bathroom, with 2 bedrooms and 1 full bath as originally described
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
$27,001
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
3.10%
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%
$540,020
$540.0K
Cap Rate 7%
$385,729
$385.7K
Cap Rate 9%
$300,011
$300.0K
Market Conditions
NOI Build-Up for 1,330 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
$40.7K $30.60/SF
− Vacancy
−$2.1K −$1.60/SF
EGI
$38.6K $29.00/SF
− OpEx
−$11.6K −$8.70/SF
NOI
$27.0K $20.30/SF
Area
ZIP 92105
Vacancy
5.22%
Lease Rate
$30.60 /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%
$540,020
Cap Rate 7%
$385,729
Cap Rate 9%
$300,011
Alternative Uses
Best Use
Multifamily LT 5
$385.7K
$337.5K – $450.0K
NOI $27,001 @ 7.0% cap · market cap 3.10%
Second Best
Apartment 5plus
$355.5K
$311.1K – $414.8K
NOI $24,886 @ 7.0% cap · market cap 2.86%
Theoretical Best
Specialty Retail
$525.3K
$459.7K – $612.9K
NOI $36,772 @ 7.0% cap · market cap 4.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
522
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately metered units each offer private yards and off-street parking, with individual gas and electric service.
Where is this duplex located?
The property is located at 3634-3636 Central Avenue San Diego, CA.
What is the asking price?
The asking price for this property is $870,000.
What are key features of this property?
This property features: Two separately metered units: front at 3636 Central and back at 3634 Central, each with private yard and gated access; Front unit (3636 Central) offers 3 bedrooms, 2 full bathrooms, and off‑street parking for up to 4 cars; Front unit includes a converted garage bedroom plus 2nd full bathroom, with 2 bedrooms and 1 full bath as originally described
