Mixed-Use Building with Residential
For Sale
Contact for pricing
4702-4714 University Ave, San Diego, CA 92105
Mixed-use improvements include four vacant one-bedroom, one-bath residential units.
Property Size11,517 SF
Lot Size0.45 Acres
Price / SF$303.90
Days on Market8
Property Features for 4702-4714 University Ave
General Information
Standard status
Active
Size
11,517 SF
Lot size
0.45 Acres
Property subtype
Mixed Use, Land
Zoning
CC 5-4
Investment Type
Redevelopment
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Additional Details
Opportunity Zone
Yes
Land Use
mixed-use
Building Details
Buildings
2
Units
4
Listing Agency:
KW Commercial Carmel Valley / Del Mar
(619) 540-4208
Listed By:
Elizabeth Brignon · License #CA 01899405
Source:
Crexi
Added: Aug 11
Changed: Aug 17
Last Checked: Aug 17 at 1:25AM
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 KW Commercial Carmel Valley / Del Mar
Investment Insights
Based on property information with market context.
The offering includes three contiguous parcels totaling approximately 0.45 acres, improved with an 11,500 SF mixed-use building. The adjoining building contains four unoccupied 1BR/1BA residential units. The property was occupied by San Diego Electric, Inc. for approximately 45 years, and the existing improvements support consideration of adaptive reuse or other repositioning strategies.
Zoned CC 5-4 within the Mid-City Community Planning Area, the site carries a Complete Communities Tier 3 designation and 6.5 FAR development potential. It is also within a Qualified Opportunity Zone, Transit Priority Area, and Qualified Census Tract. The property lies along the University Avenue corridor in City Heights, with access to I-8, I-15, I-805, and State Route 94. San Diego State University, Downtown San Diego, Mission Valley, major retail destinations, and employment centers are within the surrounding area.
Zoned CC 5-4 within the Mid-City Community Planning Area, the site carries a Complete Communities Tier 3 designation and 6.5 FAR development potential. It is also within a Qualified Opportunity Zone, Transit Priority Area, and Qualified Census Tract. The property lies along the University Avenue corridor in City Heights, with access to I-8, I-15, I-805, and State Route 94. San Diego State University, Downtown San Diego, Mission Valley, major retail destinations, and employment centers are within the surrounding area.
Key Highlights
- Three contiguous parcels totaling approximately 0.45 acres
- 11,500 SF mixed‑use building with four unoccupied 1BR/1BA residential units
- CC 5‑4 zoning within the Mid‑City Community Planning Area
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
$215,495
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
6.16%
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%
$4,309,900
$4.3M
Cap Rate 7%
$3,078,500
$3.1M
Cap Rate 9%
$2,394,389
$2.4M
Market Conditions
NOI Build-Up for 11,517 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
$414.6K $36.00/SF
− Vacancy
−$22.8K −$1.98/SF
EGI
$391.8K $34.02/SF
− OpEx
−$176.3K −$15.31/SF
NOI
$215.5K $18.71/SF
Area
ZIP 92105
Vacancy
5.50%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
45.00%
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%
$4,309,900
Cap Rate 7%
$3,078,500
Cap Rate 9%
$2,394,389
Alternative Uses
Best Use
Apartment 5plus
$3.08M
$2.69M – $3.59M
NOI $215,495 @ 7.0% cap · market cap 6.16%
Second Best
Mixed Use
$2.78M
$2.43M – $3.24M
NOI $194,349 @ 7.0% cap · market cap 5.55%
Theoretical Best
Specialty Retail
$4.55M
$3.98M – $5.31M
NOI $318,422 @ 7.0% cap · market cap 9.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,959
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use improvements include four vacant one-bedroom, one-bath residential units.
Where is this mixed-use property located?
The property is located at 4702-4714 University Ave San Diego, CA.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Three contiguous parcels totaling approximately 0.45 acres; 11,500 SF mixed‑use building with four unoccupied 1BR/1BA residential units; CC 5‑4 zoning within the Mid‑City Community Planning Area
