Remodeled Duplex With Detached
New
For Sale
Contact for pricing
3844-46 49th Street, San Diego, CA 92105
Two three-bedroom residences offer updated interiors and outdoor space for each unit.
Property Size1,857 SF
Price / SF$646.20
Days on Market4
Property Features for 3844-46 49th Street
General Information
Standard status
Active
Size
1,857 SF
Property subtype
Multifamily
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
stainless steel appliances
new cabinets
quartz countertops
ceiling fans
Building Details
Year Built
1954
Year Renovated
2020
Buildings
2
Units
2
Listing Agency:
Premier Realty Associates
(949) 299-1969
Listed By:
Terrell Brown · License #02036435
Source:
Crexi
Added: Aug 9
Changed: Aug 12
Last Checked: Aug 12 at 5:19AM
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 Premier Realty Associates
Investment Insights
Based on property information with market context.
This detached duplex contains two residences, each with three bedrooms and two bathrooms, within a combined 1,857 square feet. Both units were remodeled in 2020 and received HVAC upgrades, bedroom flooring, new cabinetry, quartz countertops, and stainless steel appliances. Ceiling fans are installed throughout each residence, while larger rooms and abundant natural light contribute to the interior layout.
Each unit also includes outdoor space, providing separate exterior areas for the two residences. The property is located at 3844-46 49th Street in San Diego, with access to the 15 highway in less than five minutes.
Each unit also includes outdoor space, providing separate exterior areas for the two residences. The property is located at 3844-46 49th Street in San Diego, with access to the 15 highway in less than five minutes.
Key Highlights
- Two detached units, each with 3 bedrooms and 2 baths
- 1,857 square feet across the duplex
- Both units remodeled in 2020 with HVAC upgrades
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
$37,701
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
3.14%
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%
$754,020
$754.0K
Cap Rate 7%
$538,586
$538.6K
Cap Rate 9%
$418,900
$418.9K
Market Conditions
NOI Build-Up for 1,857 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
$56.8K $30.60/SF
− Vacancy
−$3.0K −$1.60/SF
EGI
$53.9K $29.00/SF
− OpEx
−$16.2K −$8.70/SF
NOI
$37.7K $20.30/SF
Area
ZIP 92105
Vacancy
5.22%
Lease Rate
$30.60 /SF/Yr
Expense Ratio
30.00%
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%
$754,020
Cap Rate 7%
$538,586
Cap Rate 9%
$418,900
Alternative Uses
Best Use
Multifamily LT 5
$538.6K
$471.3K – $628.4K
NOI $37,701 @ 7.0% cap · market cap 3.14%
Second Best
Apartment 5plus
$496.4K
$434.3K – $579.1K
NOI $34,746 @ 7.0% cap · market cap 2.90%
Theoretical Best
Specialty Retail
$733.5K
$641.8K – $855.7K
NOI $51,342 @ 7.0% cap · market cap 4.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,442
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?
Duplex - Two three-bedroom residences offer updated interiors and outdoor space for each unit.
Where is this duplex located?
The property is located at 3844-46 49th Street San Diego, CA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Two detached units, each with 3 bedrooms and 2 baths; 1,857 square feet across the duplex; Both units remodeled in 2020 with HVAC upgrades
