Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    North Park Cottages For Sale Title is generated by Realmo AI

    4051-53 32nd Street, San Diego, CA 92104

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Two cottages in North Park with development potential.

    Type:Multifamily
    Property size:
    1,780 SF
    Lot size:
    0.16 Acres
    Price / SF:
    $983/SF
    Added:
    Jan 6, 2026
    Days on Market:
    144
    Last Refresh:
    Mar 22 at 8:24 pm

    Property Features for 4051-53 32nd Street

    General Information

    Standard status
    Active
    Size
    1,780 SF
    Lot size
    0.16 Acres
    Property subtype
    Multifamily

    Building Details

    Year Built
    1927

    We can help!

    Listing Contact
    Catrina Russell
    Catrina Russell

    Listing agent Catrina Russell License #01229742

    Listing office Coldwell Banker West San Diego

    Listing date Jan 6, 2026

    Source Crexi

    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 Coldwell Banker West San Diego

    HighLights

    • Located in Complete Communities & Transit Priority Areas with RM‑3‑7 zoning on a 6,759 sf lot, offering development potential.
    • Two separate houses: a 3br/2ba and a 2br/1ba, providing rental income opportunity or multi‑generational living.
    • Prime North Park location, close to restaurants, freeway, and transit.
    • Each house has private yards and private laundry.
    • Off‑street parking available for both houses.
    • Houses feature hardwood floors (in front house) and tons of character.

    Overview

    Located in the heart of North Park, this property features two cottages situated on a 6,759 square foot lot. The front house is a 1,780 square foot structure with three bedrooms and two bathrooms, hardwood floors, private yards, and two off-street parking spaces. The back house contains two bedrooms and one bathroom, also with private yards and off-street parking. Each house has private laundry facilities. The property is zoned RM-3-7 and lies within Complete Communities & Transit Priority Areas, offering potential for development. The location is near restaurants, the freeway, and transit options. Opportunities include living in one unit and renting the other.
    Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    San Diego
    County
    San Diego
    State
    California
    Longitude
    -117.1248672
    Latitude
    32.7513741

    Nearby Similar for Sale

    • $8,995,000
      9,112 SF

      San Diego Multifamily Investment Opportunity

      NNN leased 26-unit property with repositioning potential.
      4017 42nd St, San Diego, CA 92105
      View Details
    • $1,055,000
      2,273 SF

      Freestanding Commercial Building on University

      Commercial building in Rolando/College Area with flexible layout.
      6334 University Avenue, San Diego, CA 92115
      View Details
    • $815,000
      1,524 SF

      Industrial Condo Near Otay Border

      Industrial condominium near Otay Border truck crossing with warehouse space.
      10050 Via De La Amistad, San Diego, CA 92154
      View Details
    • $1,695,000
      2,860 SF

      Corner-Lot Multifamily in Old Trolley

      Three units near Trolley Barn Park with investment potential.
      1815 Mission Cliff Dr, San Diego, CA 92116
      View Details
    • $1,424,695
      2,905 SF

      Newer San Diego Triplex For Sale

      Upgraded 3-unit property built in 2020, centrally located.
      3775 - 3779 TEAK STREET, San Diego, CA 92113
      View Details
    • $1,995,000
      2,326 SF

      Normal Heights Canyon Rim Triplex

      Income-producing triplex with canyon views in Normal Heights.
      3560-64 Sydney Place, San Diego, CA 92116
      View Details
    • $675,000
      1,450 SF

      San Diego Duplex Opportunity

      Value-add duplex with development potential in a growing San Diego neighborhood.
      290 35th St, San Diego, CA 92102
      View Details
    • $1,699,000
      2,390 SF

      North Park Multifamily Income Opportunity

      Two-unit property in North Park with modern upgrades and income potential.
      3710-3712 Louisiana, San Diego, CA 92104
      View Details
    • $1,799,000
      3,163 SF

      Two Detached Homes on Corner Lot

      Two detached homes on a large corner lot in San Diego.
      2306 Modesto St, San Diego, CA 92105
      View Details
    • $1,990,000
      7,192 SF

      San Diego Commercial/Industrial Flex Space

      Multi-use commercial/industrial property in a highly sought-after San Diego location.
      3065 Beyer Boulevard, San Diego, CA 92154
      View Details
    • $950,000
      2,700 SF

      San Diego Triplex with New Roofs

      Well-maintained triplex with income potential and upside in San Diego.
      4077 Winona avenue #79, San Diego, CA 92105
      View Details
    • $1,995,000
      2,900 SF

      Normal Heights Multifamily Investment Opportunity

      Four detached homes in North Normal Heights with strong income.
      4847-53 Mansfield Street, San Diego, CA 92116
      View Details

    FAQs

    What type of property is this?
    Duplex - Two cottages in North Park with development potential.
    Where is this duplex located?
    The property is located at 4051-53 32nd Street San Diego, CA.
    What is the asking price?
    The asking price for this property is $1,750,000.
    What are key features of this property?
    This property features: Located in Complete Communities & Transit Priority Areas with RM‑3‑7 zoning on a 6,759 sf lot, offering development potential.; Two separate houses: a 3br/2ba and a 2br/1ba, providing rental income opportunity or multi‑generational living.; Prime North Park location, close to restaurants, freeway, and transit.
    (619) 226-2897 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Catrina Russell
    Catrina Russell
    Real Estate License ID: 01229742
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    4051-53 32nd Street, San Diego, CA 92104
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!