Triplex with New
New
For Sale
$1,498,000
4581 Georgia Street, San Diego, CA 92116
Residential Income, San Diego, CA
Property Size3,090 SF
Lot Size0.12 Acres
Price / SF$484.79
Days on Market2
Property Features for 4581 Georgia Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 3, Bedroom 1, Bedroom 2, Bathroom 2, Bedroom 5, Bathroom 3, Bathroom 4, Bedroom 4
Security features
Security
Pets allowed
Yes
Subdivision
UNIVERSITY HEIGHTS
Standard status
Active
APN
445-132-04-00
Size
3,090 SF
Lot size
0.12 Acres
Utilities
Heating system
Gravity
Amenities
fireplace
in-unit laundry
enclosed porch
common laundry room
Building Details
Year built
1977
Floors in Building
1
Number of units
3
Roof type
Composition
Listing Agency:
Tristani Real Estate
(619) 501-4000
Listed By:
Mike Tristani · License #01406640
(619) 501-4000
Added: Aug 27
Last Checked: Aug 28 at 7:06PM
MLS# 260021070
Copyright © 2026 San Diego MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 3,090-square-foot triplex on a 0.1205-acre lot includes a three-bedroom, 1.75-bath front residence and two matching one-bedroom units. The front home features a fireplace, newer flooring, an enclosed porch, and in-unit laundry. A new composition roof was installed in 2024. The rear apartments are described as being in good condition and share a laundry area beneath the units.
The property provides four rear parking spaces for residents plus an additional guest parking space. More than 600 square feet of covered space beneath one-bedroom units is currently used for laundry and offers substantial storage. An additional area with a bathroom remains incomplete and may provide further configuration potential, subject to completion and applicable approvals. Built in 1977, the property is located at 4581 Georgia Street in University Heights, San Diego, near Adams Avenue.
The property provides four rear parking spaces for residents plus an additional guest parking space. More than 600 square feet of covered space beneath one-bedroom units is currently used for laundry and offers substantial storage. An additional area with a bathroom remains incomplete and may provide further configuration potential, subject to completion and applicable approvals. Built in 1977, the property is located at 4581 Georgia Street in University Heights, San Diego, near Adams Avenue.
Key Highlights
- 3,090‑square‑foot triplex on a 0.1205‑acre lot
- Front residence has 3 bedrooms, 1.75 baths, fireplace, enclosed porch, and in‑unit laundry
- Two matching 1‑bedroom rear units
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
$55,352
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
3.70%
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%
$1,107,040
$1.1M
Cap Rate 7%
$790,743
$790.7K
Cap Rate 9%
$615,022
$615.0K
Market Conditions
NOI Build-Up for 3,090 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
$83.4K $27.00/SF
− Vacancy
−$4.4K −$1.41/SF
EGI
$79.1K $25.59/SF
− OpEx
−$23.7K −$7.68/SF
NOI
$55.4K $17.91/SF
Area
San Diego, CA
Vacancy
5.22%
Lease Rate
$27.00 /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%
$1,107,040
Cap Rate 7%
$790,743
Cap Rate 9%
$615,022
Alternative Uses
Best Use
Multifamily LT 5
$790.7K
$691.9K – $922.5K
NOI $55,352 @ 7.0% cap · market cap 3.70%
Second Best
Apartment 5plus
$729.6K
$638.4K – $851.2K
NOI $51,072 @ 7.0% cap · market cap 3.41%
Theoretical Best
Specialty Retail
$1.22M
$1.07M – $1.42M
NOI $85,432 @ 7.0% cap · market cap 5.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,905
Businesses Nearby
Explore this area
Business Placement
Demographics for 92116, CA
31,523
Population
17,827
Households
1.8
Avg Household Size
37
Median Age
58%
College-Educated
96%
High-School Grad
3.4 sq mi
ZIP Area
9,271
Density / Sq Mi
$95,775
Median Household Income
$63,420
Median Earnings
$1,903
Median Rent
$898,500
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?
Triplex - Three residential units include a larger front home and two matching one-bedroom apartments.
Where is this triplex located?
The property is located at 4581 Georgia Street San Diego, CA.
What is the asking price?
The asking price for this property is $1,498,000.
What are key features of this property?
This property features: 3,090‑square‑foot triplex on a 0.1205‑acre lot; Front residence has 3 bedrooms, 1.75 baths, fireplace, enclosed porch, and in‑unit laundry; Two matching 1‑bedroom rear units
