North Park Multifamily Investment
For Sale
$1,699,000
4209 Wilson Ave, San Diego, CA 92104
Five-unit complex in North Park with strong tenant demand.
Property Size3,283 SF
Days on Market186
Property Features for 4209 Wilson Ave
General Information
Standard status
Active
Size
3,283 SF
Property subtype
Investment
Site & Location
Neighborhood
Corridor
Building Details
Building Size
3,283 SF
Year Built
1958
Stories
2
Units
5
Listing Agency:
MR Agent Real Estate Inc.
Listed By:
Ivan Kim-Fregoso
(619) 608-4786
Source:
Elliman
Added: Apr 22
Changed: Oct 15
Last Checked: Oct 24 at 6:47PM
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 MR Agent Real Estate Inc.
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Investment Insights
Based on property information with market context.
This five-unit complex is located in the North Park area. The property features three 2-bedroom, 1-bathroom units and two 1-bedroom, 1-bathroom units. The complex includes independent electricity meters, four attached garages, and a separate laundry room. Additional features include a front patio, and three units have side patios. Alley access is available. The property is centrally located near freeways, shopping centers, and stores. The property is suitable for investors. Strong tenant demand exists in this area. The renters are currently on month-to-month leases.
Key Highlights
- Five‑unit complex in desirable North Park location
- Strong tenant demand with month‑to‑month renters
- Property is free and clear
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,262
Cap Rate
3.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,085,240
$1.1M
Cap Rate 7%
$775,171
$775.2K
Cap Rate 9%
$602,911
$602.9K
Market Conditions
NOI Build-Up for 3,283 SF
Gross rent
$104.4K $31.80/SF
− Vacancy
−$5.7K −$1.75/SF
EGI
$98.7K $30.05/SF
− OpEx
−$44.4K −$13.52/SF
NOI
$54.3K $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 Rate 5%
$1,085,240
Cap Rate 7%
$775,171
Cap Rate 9%
$602,911
Alternative Uses
Best Use
Apartment 5plus
$775.2K
$678.3K – $904.4K
NOI $54,262 @ 7.0% cap · market cap 3.19%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.30M
$1.13M – $1.51M
NOI $90,768 @ 7.0% cap · market cap 5.34%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,660
Businesses Nearby
Explore this area
Business Placement
Demographics for 92104, CA
44,265
Population
24,580
Households
1.8
Avg Household Size
36
Median Age
55%
College-Educated
94%
High-School Grad
3.7 sq mi
ZIP Area
11,964
Density / Sq Mi
$92,862
Median Household Income
$60,195
Median Earnings
$1,925
Median Rent
$861,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Five-unit complex in North Park with strong tenant demand.
Where is this apartment building located?
The property is located at 4209 Wilson Ave San Diego, CA.
What is the asking price?
The asking price for this property is $1,699,000.
What are key features of this property?
This property features: Five‑unit complex in desirable North Park location; Strong tenant demand with month‑to‑month renters; Property is free and clear
