Two-Unit Duplex with Detached
For Sale
$749,900
3890 37th, San Diego, CA 92105
Two separately accessed residences offer individual electric metering, rear storage, and off-street parking near major freeways and transit.
Property Size1,689 SF
Price / SF$443.99
Days on Market356
Property Features for 3890 37th
General Information
Standard status
Active
Size
1,689 SF
Total Parking Spaces
3
Property subtype
Duplex
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Amenities
laundry hookups
storage
3
Laminate, Carpet
Gas Range/Cooktop, Refrigerator
Window Blinds, Breakfast Bar
Asphalt, Shingle
Wrought Iron, Block
Concrete, Covered
Parking. Outbuildings. Storage Area. Fenced Yard.
3 Parking Spaces. Street Parking, Driveway, 1 Car, Concrete Driveway, Off Street.
Irregular
Out Building, Extra Storage. Public Transport, City Road, Paved Road, Irregular.
Building Details
Year Built
1990
Buildings
2
Stories
2
Listing Agency:
CA Flat Fee Listings, Inc
(626) 790-2250
Listed By:
Philip Mills · License #01893077
Source:
Xome
Added: Sep 9, 2025
Changed: Aug 29
Last Checked: Aug 29 at 6:44PM
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 Flat Fee Listings, Inc
Investment Insights
Based on property information with market context.
Built in 1990, this 1,689-square-foot duplex contains two one-bedroom, one-bath residences arranged on separate levels. Each unit has its own entrance and individual electric meter. Interior finishes include laminate and carpet flooring, window blinds, a breakfast bar, a gas range/cooktop, and a refrigerator.
A detached rear structure adds laundry hookups, power, and storage area. The property also includes a fenced yard and 3 parking spaces, with additional street parking and a concrete driveway. Located just off University Avenue between the 805 and 15 freeways, the property offers access to shopping, dining, public transportation, and downtown San Diego.
A detached rear structure adds laundry hookups, power, and storage area. The property also includes a fenced yard and 3 parking spaces, with additional street parking and a concrete driveway. Located just off University Avenue between the 805 and 15 freeways, the property offers access to shopping, dining, public transportation, and downtown San Diego.
Key Highlights
- Two 1‑bedroom, 1‑bath units arranged upstairs and downstairs
- Separate entrances and individual electric meters for each residence
- 1,689 SF duplex built in 1990
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
$34,290
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
4.57%
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%
$685,800
$685.8K
Cap Rate 7%
$489,857
$489.9K
Cap Rate 9%
$381,000
$381.0K
Market Conditions
NOI Build-Up for 1,689 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
$51.7K $30.60/SF
− Vacancy
−$2.7K −$1.60/SF
EGI
$49.0K $29.00/SF
− OpEx
−$14.7K −$8.70/SF
NOI
$34.3K $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%
$685,800
Cap Rate 7%
$489,857
Cap Rate 9%
$381,000
Alternative Uses
Best Use
Multifamily LT 5
$489.9K
$428.6K – $571.5K
NOI $34,290 @ 7.0% cap · market cap 4.57%
Second Best
Apartment 5plus
$451.5K
$395.0K – $526.7K
NOI $31,603 @ 7.0% cap · market cap 4.21%
Theoretical Best
Specialty Retail
$667.1K
$583.7K – $778.3K
NOI $46,697 @ 7.0% cap · market cap 6.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,520
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 separately accessed residences offer individual electric metering, rear storage, and off-street parking near major freeways and transit.
Where is this duplex located?
The property is located at 3890 37th San Diego, CA.
What is the asking price?
The asking price for this property is $749,900.
What are key features of this property?
This property features: Two 1‑bedroom, 1‑bath units arranged upstairs and downstairs; Separate entrances and individual electric meters for each residence; 1,689 SF duplex built in 1990
