Mixed-Use Property with Retail
New
For Sale
$3,750,000
3783-89 Park Blvd, San Diego, CA 92103
Eight residences include studios, cottages, and duplex units, with an on-site laundry room serving the property.
Property Size7,310 SF
Price / SF$512
Days on Market6
Property Features for 3783-89 Park Blvd
General Information
Standard status
Active
Size
7,310 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x studio, 2 x 1BR/1BA cottage, 2 x 1BR/1BA duplex
Multifamily Units
8
Additional Details
Road Access
Yes
Amenities
on-site laundry room
Listing Agency:
Starker West, Inc.
Listed By:
Seth R Watje Watje@starkerwest.com
Source:
Viewsandiegorealestate
Added: Oct 10
Changed: Oct 15
Last Checked: Oct 15 at 2:04AM
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 Starker West, Inc.
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Investment Insights
Based on property information with market context.
This mixed-use property combines two ground-floor retail spaces with four studio apartments above. Two detached cottages each contain one bedroom and one bathroom, while a separate two-story duplex adds two more one-bedroom, one-bathroom residences. An on-site laundry room serves the residential units. Interior details include built-ins, woodwork, period tile, and hardwood floors; the property also features Egyptian-inspired decorative elements.
The buildings front Park Blvd in Hillcrest, an area described as having restaurants, retail, entertainment, neighborhood amenities, and new development. The residential mix includes studios, cottages, and duplex units across the property.
The buildings front Park Blvd in Hillcrest, an area described as having restaurants, retail, entertainment, neighborhood amenities, and new development. The residential mix includes studios, cottages, and duplex units across the property.
Key Highlights
- Two street‑level retail spaces front Park Blvd
- Four studio apartments are located above the retail spaces
- Two detached cottages, each with 1BR/1BA
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$176,457
Cap Rate
4.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,529,140
$3.5M
Cap Rate 7%
$2,520,814
$2.5M
Cap Rate 9%
$1,960,633
$2.0M
Market Conditions
NOI Build-Up for 7,310 SF
Gross rent
$263.2K $36.00/SF
− Vacancy
−$11.1K −$1.52/SF
EGI
$252.1K $34.48/SF
− OpEx
−$75.6K −$10.35/SF
NOI
$176.5K $24.14/SF
Area
San Diego, CA
Vacancy
4.21%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,529,140
Cap Rate 7%
$2,520,814
Cap Rate 9%
$1,960,633
Alternative Uses
Best Use
Retail
$2.52M
$2.21M – $2.94M
NOI $176,457 @ 7.0% cap · market cap 4.71%
Second Best
Mixed Use
$2.02M
$1.77M – $2.35M
NOI $141,229 @ 7.0% cap · market cap 3.77%
Theoretical Best
Specialty Retail
$2.89M
$2.53M – $3.37M
NOI $202,107 @ 7.0% cap · market cap 5.39%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
8
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,325
Businesses Nearby
Explore this area
Business Placement
Demographics for 92103, CA
33,311
Population
21,363
Households
1.6
Avg Household Size
42
Median Age
63%
College-Educated
97%
High-School Grad
3.7 sq mi
ZIP Area
9,003
Density / Sq Mi
$96,887
Median Household Income
$69,732
Median Earnings
$2,020
Median Rent
$986,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Eight residences include studios, cottages, and duplex units, with an on-site laundry room serving the property.
Where is this mixed-use property located?
The property is located at 3783-89 Park Blvd San Diego, CA.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: Two street‑level retail spaces front Park Blvd; Four studio apartments are located above the retail spaces; Two detached cottages, each with 1BR/1BA
