Renovated Triplex with Separate
5118 22 Constitution Rd San Diego, CA 92117
New
For Sale
$2,099,000
Three renovated residences on one lot, each with separate entrances and in-unit laundry, offering move-in-ready flexibility.
Property Size6,000 SF
Price / SF$349.83
Days on Market5
Property Features for 5118 22 Constitution Rd
General Information
- Standard status
- Active
- Size
- 6,000 SF
- Property subtype
- Investment
Building Details
- Year Built
- 1959
Listing Agency:
(619) 207-7601
Listed By:
Christian Ballow
(619) 207-7601
Source:
Elliman
Added: Jul 21
Changed: Jul 22
Last Checked: Jul 25 at 6:23AM
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 Christian Ballow
Investment Insights
Based on property information with market context.
A renovated triplex offering three distinct residences on one San Diego lot. The main residence at 5118 Constitution Rd was originally built in 1959 and has been transformed with a thoughtful addition and complete interior remodel, featuring three bedrooms and 1.5 baths, an attached garage, a private backyard patio, and a remodeled interior with wide-plank flooring, quartz countertops, and designer lighting.
The companion residence at 5120 Constitution Rd was built in 2023 and provides two bedrooms and two baths with an open-concept living, kitchen, and dining area, in-unit laundry, and mini-split climate control. A private deck sits behind mature landscaping. The studio residence at 5122 Constitution Rd has its own private street-facing entrance and includes a full kitchen, dedicated dining and sleeping areas, a full bath, and in-unit laundry. All three homes are presented with elevated finishes and independent functionality.
The companion residence at 5120 Constitution Rd was built in 2023 and provides two bedrooms and two baths with an open-concept living, kitchen, and dining area, in-unit laundry, and mini-split climate control. A private deck sits behind mature landscaping. The studio residence at 5122 Constitution Rd has its own private street-facing entrance and includes a full kitchen, dedicated dining and sleeping areas, a full bath, and in-unit laundry. All three homes are presented with elevated finishes and independent functionality.
Key Highlights
- Three fully renovated residences on one San Diego lot with separate entrances for independent living or rental use
- Main residence (5118 Constitution Rd): 3 bed, 1.5 bath; wide‑plank flooring, quartz countertops, newly landscaped drought‑tolerant front yard
- Companion residence (5120 Constitution Rd): built in 2023; 2 bed, 2 bath; open‑concept living/kitchen/dining with in‑unit laundry and mini‑split climate control
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $162.0k | $27.00 |
| − Vacancy | −$8.5k | −$1.41 |
| EGI | $153.5k | $25.59 |
| − OpEx | −$46.1k | −$7.68 |
| NOI | $107.5k | $17.91 |
6,000 SF · lease $27.00/SF/yr · vacancy 5.22% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.54M
$1.34M – $1.79M
NOI $107,481 @ 7.0% cap · market cap 5.12%
Second Best
Apartment 5plus
$1.42M
$1.24M – $1.65M
NOI $99,168 @ 7.0% cap · market cap 4.72%
Theoretical Best
Specialty Retail
$2.37M
$2.07M – $2.76M
NOI $165,888 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Three renovated residences on one lot, each with separate entrances and in-unit laundry, offering move-in-ready flexibility.
Where is this triplex located?
The property is located at 5118 22 Constitution Rd San Diego, CA.
What is the asking price?
The asking price for this property is $2,099,000.
What are key features of this property?
This property features: Three fully renovated residences on one San Diego lot with separate entrances for independent living or rental use; Main residence (5118 Constitution Rd): 3 bed, 1.5 bath; wide‑plank flooring, quartz countertops, newly landscaped drought‑tolerant front yard; Companion residence (5120 Constitution Rd): built in 2023; 2 bed, 2 bath; open‑concept living/kitchen/dining with in‑unit laundry and mini‑split climate control
