Dual-Unit Income
For Sale
$780,000
Pending
4811 Castle Ave, San Diego, CA 92105
Two detached units with separate gas/electric metering and shared water service provide income with long-term tenants.
Property Size1,514 SF
Days on Market66
Property Features for 4811 Castle Ave
General Information
Standard status
Pending
Size
1,514 SF
Property subtype
Investment
Additional Details
Highway Access
Yes
Multifamily Units
2
Amenities
large backyard
2 sheds
detached oversized one-car garage
Building Details
Building Size
1,514 SF
Year Built
2013
Stories
1
Units
2
Listed By:
Angela Kim
(858) 663-1372
Source:
Elliman
Added: Jul 6
Changed: Sep 5
Last Checked: Sep 8 at 6:48AM
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 Angela Kim
Investment Insights
Based on property information with market context.
This for-sale duplex features two detached residential units with income currently generated by long-term tenants. The property is served by two separate SDG&E gas and electric meters and one water meter, supporting independent utility tracking for each unit. Outside, the home offers a large backyard with two sheds, along with a detached oversized one-car garage. The garage presents ADU conversion potential, which could provide an additional income stream on top of the existing dual-unit setup.
BikeScore is 49 (Somewhat Bikeable), walkScore is 92 (Walker’s Paradise), and transitScore is 55 (Good Transit). The location also provides easy access to Interstates 8, 15, and 805 for convenient commuting across the region.
BikeScore is 49 (Somewhat Bikeable), walkScore is 92 (Walker’s Paradise), and transitScore is 55 (Good Transit). The location also provides easy access to Interstates 8, 15, and 805 for convenient commuting across the region.
Key Highlights
- 2013‑built dual‑unit property with two detached units
- Two units generate $3,850/month with two long‑term tenants in place
- Separate SDGE gas and electric meters for each unit; shared 1 water meter
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
$30,737
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
3.94%
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%
$614,740
$614.7K
Cap Rate 7%
$439,100
$439.1K
Cap Rate 9%
$341,522
$341.5K
Market Conditions
NOI Build-Up for 1,514 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
$46.3K $30.60/SF
− Vacancy
−$2.4K −$1.60/SF
EGI
$43.9K $29.00/SF
− OpEx
−$13.2K −$8.70/SF
NOI
$30.7K $20.30/SF
Area
ZIP 92105
Vacancy
5.22%
Lease Rate
$30.60 /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%
$614,740
Cap Rate 7%
$439,100
Cap Rate 9%
$341,522
Alternative Uses
Best Use
Multifamily LT 5
$439.1K
$384.2K – $512.3K
NOI $30,737 @ 7.0% cap · market cap 3.94%
Second Best
Apartment 5plus
$404.7K
$354.1K – $472.1K
NOI $28,328 @ 7.0% cap · market cap 3.63%
Theoretical Best
Specialty Retail
$598.0K
$523.2K – $697.7K
NOI $41,859 @ 7.0% cap · market cap 5.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,234
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Duplex - Two detached units with separate gas/electric metering and shared water service provide income with long-term tenants.
Where is this duplex located?
The property is located at 4811 Castle Ave San Diego, CA.
What is the asking price?
The asking price for this property is $780,000.
What are key features of this property?
This property features: 2013‑built dual‑unit property with two detached units; Two units generate $3,850/month with two long‑term tenants in place; Separate SDGE gas and electric meters for each unit; shared 1 water meter
