Six-Unit Apartment
For Sale
$2,625,000
3830 Front Street, San Diego, CA 92103
Two-story multifamily property with varied unit layouts, fireplaces, laundry hookups, and assigned parking.
Property Size6,220 SF
Price / SF$422.03
Days on Market191
Property Features for 3830 Front Street
General Information
Standard status
Active
Size
6,220 SF
Property subtype
Commercial-Res Income / Com-Res Income
Zoning
R-
Units
Unit Mix
5 x 2BR/2BA, 1 x 3BR/2BA
Multifamily Units
6
Amenities
fireplaces
laundry hookups
assigned parking
common area laundry facilities
2 Story
Wall
2
Other/Remarks
12.0
13
Leased
Apartment
1
Listing Agency:
GMD Properties
(858) 603-6463
Listed By:
Gloria M Donichy · License #00704282
(858) 603-6463
Source:
Compass
Added: Feb 19
Changed: Aug 29
Last Checked: Aug 29 at 1:06PM
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 GMD Properties
Investment Insights
Based on property information with market context.
This 6,220-square-foot, two-story apartment complex contains six residential units, including five two-bedroom, two-bath residences and one three-bedroom, two-bath residence. Each unit includes a fireplace, laundry hookups, and assigned parking. The property also provides two garage spaces and shared laundry facilities.
The complex is located at 3830 Front Street in San Diego’s Hillcrest area, within blocks of the neighborhood’s shops, services, and other amenities. Zoning is identified as R-.
The complex is located at 3830 Front Street in San Diego’s Hillcrest area, within blocks of the neighborhood’s shops, services, and other amenities. Zoning is identified as R-.
Key Highlights
- Six‑unit apartment complex with five 2‑bedroom, 2‑bath units and one 3‑bedroom, 2‑bath unit
- 6,220 square feet across a 2‑story building
- Fireplaces and laundry hookups in every unit
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
$102,804
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
3.92%
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%
$2,056,080
$2.1M
Cap Rate 7%
$1,468,629
$1.5M
Cap Rate 9%
$1,142,267
$1.1M
Market Conditions
NOI Build-Up for 6,220 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
$197.8K $31.80/SF
− Vacancy
−$10.9K −$1.75/SF
EGI
$186.9K $30.05/SF
− OpEx
−$84.1K −$13.52/SF
NOI
$102.8K $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%
$2,056,080
Cap Rate 7%
$1,468,629
Cap Rate 9%
$1,142,267
Alternative Uses
Best Use
Apartment 5plus
$1.47M
$1.29M – $1.71M
NOI $102,804 @ 7.0% cap · market cap 3.92%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.46M
$2.15M – $2.87M
NOI $171,971 @ 7.0% cap · market cap 6.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
6,710
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Two-story multifamily property with varied unit layouts, fireplaces, laundry hookups, and assigned parking.
Where is this apartment building located?
The property is located at 3830 Front Street San Diego, CA.
What is the asking price?
The asking price for this property is $2,625,000.
What are key features of this property?
This property features: Six‑unit apartment complex with five 2‑bedroom, 2‑bath units and one 3‑bedroom, 2‑bath unit; 6,220 square feet across a 2‑story building; Fireplaces and laundry hookups in every unit
