Detached Houses, Great Rental
For Sale
$1,050,000
Pending
3821-3823 Cottonwood Street, San Diego, CA 92113
Two detached houses with separate water meters, great rental income.
Property Size3,050 SF
Days on Market189
Property Features for 3821-3823 Cottonwood Street
General Information
Standard status
Pending
Size
3,050 SF
Property subtype
Residential Income
Amenities
1 Story
Wall/Window
3.0
1
3
8
Composition
Gate
N/K
2
Wood/Stucco
Building Details
Year Built
1944
Listing Agency:
Allied Green Realty
(619) 573-0289
Listed By:
Amar Harrag · License #01712576
(619) 573-0289
Source:
Compass
Added: Feb 21
Changed: Aug 25
Last Checked: Aug 29 at 3:48PM
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 Allied Green Realty
Investment Insights
Based on property information with market context.
This property presents a rental investment opportunity featuring two completely detached houses. Each house has separate water meters, allowing tenants to pay all utilities. The property is currently occupied by long-term tenants who are willing to stay and are open to signing long-term leases. The first unit, remodeled 5 years ago, includes new plumbing and electrical systems, and features 5 bedrooms and 2 bathrooms. The second unit has also been remodeled and contains 3 bedrooms and 1 full bathroom. The property size is 3050 square feet. Rents can be increased under new ownership. The property is located in San Diego, CA and is shown by appointment only; tenants should not be disturbed.
Key Highlights
- Two Detached Houses on One Property: Offers dual rental income streams.
- Tenants Pay All Utilities: Significantly reduces landlord expenses and increases profit margin.
- Remodeled Units: Unit one fully remodeled 5 years ago with new plumbing and electrical.
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
$50,411
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
4.80%
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%
$1,008,220
$1.0M
Cap Rate 7%
$720,157
$720.2K
Cap Rate 9%
$560,122
$560.1K
Market Conditions
NOI Build-Up for 3,050 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
$97.0K $31.80/SF
− Vacancy
−$5.3K −$1.75/SF
EGI
$91.7K $30.05/SF
− OpEx
−$41.2K −$13.52/SF
NOI
$50.4K $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%
$1,008,220
Cap Rate 7%
$720,157
Cap Rate 9%
$560,122
Alternative Uses
Best Use
Apartment 5plus
$720.2K
$630.1K – $840.2K
NOI $50,411 @ 7.0% cap · market cap 4.80%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.20M
$1.05M – $1.41M
NOI $84,326 @ 7.0% cap · market cap 8.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,065
Businesses Nearby
Explore this area
Business Placement
Demographics for 92113, CA
50,457
Population
14,443
Households
3.5
Avg Household Size
32
Median Age
11%
College-Educated
69%
High-School Grad
4.5 sq mi
ZIP Area
11,213
Density / Sq Mi
$59,177
Median Household Income
$31,099
Median Earnings
$1,608
Median Rent
$559,100
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?
Multifamily property - Two detached houses with separate water meters, great rental income.
Where is this multifamily property located?
The property is located at 3821-3823 Cottonwood Street San Diego, CA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Two Detached Houses on One Property: Offers dual rental income streams.; Tenants Pay All Utilities: Significantly reduces landlord expenses and increases profit margin.; Remodeled Units: Unit one fully remodeled 5 years ago with new plumbing and electrical.
