13-Unit Multifamily
For Sale
$4,100,000
4744 Hawley Blvd, San Diego, CA 92116
Built in 1969, this 13-unit property offers ten two-bedroom units, three one-bedroom units, and twenty on-site parking spaces.
Property Size9,479 SF
Price / SF$432.54
Days on Market133
Property Features for 4744 Hawley Blvd
General Information
Standard status
Active
Size
9,479 SF
Total Parking Spaces
20
Property subtype
Multi-Family
Additional Details
Multifamily Units
13
Building Details
Year Built
1969
Listing Agency:
Conor Brennan, Broker
Listed By:
Conor M Brennan Conor.Brennan@cbre.com · License #01918598
(720) 841-8139
Source:
Viewsandiegorealestate
Added: Apr 30
Changed: Sep 8
Last Checked: Sep 8 at 4:05AM
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 Conor Brennan, Broker
Investment Insights
Based on property information with market context.
4744 Hawley Boulevard is a 13-unit multifamily property built in 1969. The unit mix includes ten (10) two-bedroom/one-bath units and three (3) one-bedroom/one-bath units. Parking totals twenty spaces, including four front tandem (2-car) spaces, three double-car garages, one single-car garage, one off-street rear space, and one 4-car rear tandem space.
Recent capital improvements include electrical system improvements, plumbing enhancements, new exterior paint, extensive fascia and wood repairs, and a roof replacement. The property also has completed SB721 inspections.
These upgrades are intended to reduce near-term capital expenditure requirements while supporting long-term operational stability.
Recent capital improvements include electrical system improvements, plumbing enhancements, new exterior paint, extensive fascia and wood repairs, and a roof replacement. The property also has completed SB721 inspections.
These upgrades are intended to reduce near-term capital expenditure requirements while supporting long-term operational stability.
Key Highlights
- 13‑unit multifamily built in 1969 with a unit mix of ten 2 bed/1 bath units and three 1 bed/1 bath units
- 20 total on‑site parking spaces: four front tandem spaces, three double‑car garages, one single‑car garage, one off‑street rear space, and one 4‑car rear tandem space
- Recent capital improvements include electrical system improvements, plumbing enhancements, and new exterior paint
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
$156,669
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
3.82%
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%
$3,133,380
$3.1M
Cap Rate 7%
$2,238,129
$2.2M
Cap Rate 9%
$1,740,767
$1.7M
Market Conditions
NOI Build-Up for 9,479 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
$301.4K $31.80/SF
− Vacancy
−$16.6K −$1.75/SF
EGI
$284.9K $30.05/SF
− OpEx
−$128.2K −$13.52/SF
NOI
$156.7K $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 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%
$3,133,380
Cap Rate 7%
$2,238,129
Cap Rate 9%
$1,740,767
Alternative Uses
Best Use
Apartment 5plus
$2.24M
$1.96M – $2.61M
NOI $156,669 @ 7.0% cap · market cap 3.82%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.74M
$3.28M – $4.37M
NOI $262,075 @ 7.0% cap · market cap 6.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
13
Residential units
Location Intelligence
Trade Area within ½ mile
1,492
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?
Apartment building - Built in 1969, this 13-unit property offers ten two-bedroom units, three one-bedroom units, and twenty on-site parking spaces.
Where is this apartment building located?
The property is located at 4744 Hawley Blvd San Diego, CA.
What is the asking price?
The asking price for this property is $4,100,000.
What are key features of this property?
This property features: 13‑unit multifamily built in 1969 with a unit mix of ten 2 bed/1 bath units and three 1 bed/1 bath units; 20 total on‑site parking spaces: four front tandem spaces, three double‑car garages, one single‑car garage, one off‑street rear space, and one 4‑car rear tandem space; Recent capital improvements include electrical system improvements, plumbing enhancements, and new exterior paint
