Mixed-Use Property in Opportunity
3651-55 Ocean View Boulevard San Diego, CA 92113
For Sale
$795,000
Five-unit mixed-use property with redevelopment potential in San Diego.
Property Size3,450 SF
Lot Size0.15 Acres
Price / SF$230.43
Days on Market153
Property Features for 3651-55 Ocean View Boulevard
General Information
- Standard status
- Active
- Size
- 3,450 SF
- Lot size
- 0.15 Acres
- Property subtype
- Commercial Sale / Mixed Use
Building Details
- Year Built
- 1926
Listing Agency:
The Browar Group
(858) 349-7183
Listed By:
Grant Myerson · License #02095348
(858) 349-7183
Source:
Compass
Added: Feb 22
Changed: Jul 10
Last Checked: Jul 24 at 12:48PM
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 The Browar Group
Investment Insights
Based on property information with market context.
The property at 3651-55 Ocean View Blvd is a 5-unit mixed-use property totaling approximately 3,450 square feet, situated on a 6,752 square foot lot. Constructed in 1926, the property features two 1-bedroom, 1-bathroom units, each approximately 660 square feet, and three retail units totaling approximately 2,130 square feet. Located in an Opportunity Zone, the property offers a renovation or redevelopment opportunity. The building previously sustained fire damage, and the seller has rebuild plans available. A buyer may also have the opportunity to renovate or reposition the asset to their own vision. The RS-1-7 zoning may make the property attractive for a buyer looking to convert the asset to fully residential use. Seller will consider fair and reasonable seller financing.
Key Highlights
- Mixed‑use property with two residential units and three retail units.
- Opportunity Zone location offers potential tax benefits and investment incentives.
- Redevelopment or renovation potential due to fire damage, with rebuild plans available.
Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $115.9k | $33.60 |
| − Vacancy | −$9.3k | −$2.69 |
| EGI | $106.6k | $30.91 |
| − OpEx | −$40.0k | −$11.59 |
| NOI | $66.7k | $19.32 |
3,450 SF · lease $33.60/SF/yr · vacancy 8.00% · expense 37.50%
Alternative Uses
Best Use
Retail
$1.19M
$1.04M – $1.39M
NOI $83,280 @ 7.0% cap · market cap 10.48%
Second Best
Mixed Use
$952.2K
$833.2K – $1.11M
NOI $66,654 @ 7.0% cap · market cap 8.38%
Theoretical Best
Specialty Retail
$1.36M
$1.19M – $1.59M
NOI $95,386 @ 7.0% cap · market cap 12.00%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Retail space
FAQs
What type of property is this?
Mixed-use property - Five-unit mixed-use property with redevelopment potential in San Diego.
Where is this mixed-use property located?
The property is located at 3651-55 Ocean View Boulevard San Diego, CA.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Mixed‑use property with two residential units and three retail units.; Opportunity Zone location offers potential tax benefits and investment incentives.; Redevelopment or renovation potential due to fire damage, with rebuild plans available.
