8-Unit Apartment
For Sale
$3,695,000
375-81 Rosecrans Street, San Diego, CA 92106
Residential Income, San Diego, CA
Property Size7,153 SF
Price / SF$516.57
Days on Market261
Property Features for 375-81 Rosecrans Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Subdivision
POINT LOMA (92106)
Standard status
Active
APN
532-492-02-00
Size
7,153 SF
Building Details
Floors in Building
2
Number of units
8
Listing Agency:
The Equity Company
(619) 528-2337
Listed By:
Andrew T Gilcrest · License #00984109
(619) 813-2338
Added: Dec 20, 2025
Changed: Aug 19
Last Checked: Sep 7 at 10:06AM
MLS# 250046022
Copyright © 2026 San Diego MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This apartment property at 375-81 Rosecrans Street comprises eight units, including seven two-bedroom, one-bath residences and one three-bedroom, two-bath residence. The building was constructed in the 1950s and provides a mix of residential layouts within a single multifamily asset.
The property is located in La Playa, within one block of Kellogg Beach and near the La Playa Trail. Bassemer Foot Path and The San Diego Yacht Club are also nearby, while Shelter Island, Downtown San Diego, and the airport are minutes away without requiring freeway access.
The property is located in La Playa, within one block of Kellogg Beach and near the La Playa Trail. Bassemer Foot Path and The San Diego Yacht Club are also nearby, while Shelter Island, Downtown San Diego, and the airport are minutes away without requiring freeway access.
Key Highlights
- 8‑unit apartment building constructed in the 1950s
- Unit mix includes 7 2BR/1BA units and 1 3BR/2BA unit
- Located one block from Kellogg Beach
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
$118,225
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
3.20%
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%
$2,364,500
$2.4M
Cap Rate 7%
$1,688,929
$1.7M
Cap Rate 9%
$1,313,611
$1.3M
Market Conditions
NOI Build-Up for 7,153 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
$227.5K $31.80/SF
− Vacancy
−$12.5K −$1.75/SF
EGI
$215.0K $30.05/SF
− OpEx
−$96.7K −$13.52/SF
NOI
$118.2K $16.53/SF
Area
San Diego, CA
Vacancy
5.50%
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%
$2,364,500
Cap Rate 7%
$1,688,929
Cap Rate 9%
$1,313,611
Alternative Uses
Best Use
Apartment 5plus
$1.69M
$1.48M – $1.97M
NOI $118,225 @ 7.0% cap · market cap 3.20%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.83M
$2.47M – $3.30M
NOI $197,766 @ 7.0% cap · market cap 5.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
194
Businesses Nearby
Explore this area
Business Placement
Demographics for 92106, CA
20,214
Population
7,908
Households
2.6
Avg Household Size
39
Median Age
63%
College-Educated
97%
High-School Grad
5.7 sq mi
ZIP Area
3,546
Density / Sq Mi
$127,209
Median Household Income
$55,428
Median Earnings
$2,231
Median Rent
$1,359,000
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?
Apartment building - Unit mix includes two- and three-bedroom floor plans in a coastal Point Loma setting.
Where is this apartment building located?
The property is located at 375-81 Rosecrans Street San Diego, CA.
What is the asking price?
The asking price for this property is $3,695,000.
What are key features of this property?
This property features: 8‑unit apartment building constructed in the 1950s; Unit mix includes 7 2BR/1BA units and 1 3BR/2BA unit; Located one block from Kellogg Beach
