San Diego Multifamily Investment
For Sale
$2,170,000
3805 Winona Avenue, San Diego, CA 92105
Eight-unit property in San Diego near schools and freeways.
Property Size5,664 SF
Price / SF$383.12
Days on Market182
Property Features for 3805 Winona Avenue
General Information
Standard status
Active
Size
5,664 SF
Property subtype
Commercial-Res Income / Com-Res Income
Amenities
Central Forced Air Gas
2
0.0
Owned
1
Listing Agency:
CA-RES
(619) 483-8431
Listed By:
Janet Lopez-Avitia · License #02109234
(619) 483-8431
Source:
Compass
Added: Feb 28
Changed: Aug 27
Last Checked: Aug 29 at 3:49PM
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 CA-RES
Investment Insights
Based on property information with market context.
This property features eight units in San Diego. Four units contain two bedrooms and one bathroom, while the other four units have one bedroom and one bathroom. Each unit includes a designated parking space. An on-site laundry room is available. The property is located near schools, shopping, dining, and major freeways. The property is tenant-occupied.
Key Highlights
- Well‑located 8‑unit property in San Diego.
- Mix of unit types: four 2‑bedroom/1‑bathroom and four 1‑bedroom/1‑bathroom units.
- Each unit includes a designated parking space.
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
$105,979
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
4.88%
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%
$2,119,580
$2.1M
Cap Rate 7%
$1,513,986
$1.5M
Cap Rate 9%
$1,177,544
$1.2M
Market Conditions
NOI Build-Up for 5,664 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
$203.9K $36.00/SF
− Vacancy
−$11.2K −$1.98/SF
EGI
$192.7K $34.02/SF
− OpEx
−$86.7K −$15.31/SF
NOI
$106.0K $18.71/SF
Area
ZIP 92105
Vacancy
5.50%
Lease Rate
$36.00 /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%
$2,119,580
Cap Rate 7%
$1,513,986
Cap Rate 9%
$1,177,544
Alternative Uses
Best Use
Apartment 5plus
$1.51M
$1.32M – $1.77M
NOI $105,979 @ 7.0% cap · market cap 4.88%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.24M
$1.96M – $2.61M
NOI $156,598 @ 7.0% cap · market cap 7.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
944
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?
Apartment building - Eight-unit property in San Diego near schools and freeways.
Where is this apartment building located?
The property is located at 3805 Winona Avenue San Diego, CA.
What is the asking price?
The asking price for this property is $2,170,000.
What are key features of this property?
This property features: Well‑located 8‑unit property in San Diego.; Mix of unit types: **four 2‑bedroom/1‑bathroom and four 1‑bedroom/1‑bathroom units.**; Each unit includes a designated parking space.
