Restored 3-Unit Residential
572 21st Street San Diego, CA 92102
572 21st Street, San Diego, CA, 92102
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For Sale
Contact for pricing
Fully restored three-unit building with individually sub-metered water, including a vacant three-bedroom unit for immediate occupancy.
Property Size2,145 SF
Price / SF$629.37
Days on Market100
Property Features for 572 21st Street
General Information
- Standard status
- Active
- Size
- 2,145 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1920
Listing agency
CBRE - San Diego
(720) 841-8139
Listed by
Conor Brennan · License #01918598
Source
Crexi
Added: Apr 13 Updated: Jul 20 at 4:42PM Checked: Jul 21 at 7:03AM
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 CBRE - San Diego
Investment Insights
Based on property information with market context.
572 21st Street is a fully restored 3-unit residential property featuring a two-story building totaling approximately 2,145 rentable square feet. The unit mix includes one three-bedroom / 1.5-bath unit, one one-bedroom / one-bath unit, and one studio loft, creating a flexible layout for an owner-occupant or investor. The three-bedroom unit is currently vacant and available for immediate occupancy. The property has been extensively renovated with upgrades to plumbing, electrical systems, drywall, and partial foundation improvements, and it is described as having limited deferred maintenance. Each unit is individually water sub-metered.
The property is located in the evolving Sherman Heights neighborhood of San Diego, just east of Downtown. It is for sale and sits on a 4,254 square foot lot.
Originally constructed in a historic Victorian style, the building offers an owner-occupant arrangement that can combine personal living use with rental income from the remaining units, subject to applicable regulations for any short-term rental operation.
The property is located in the evolving Sherman Heights neighborhood of San Diego, just east of Downtown. It is for sale and sits on a 4,254 square foot lot.
Originally constructed in a historic Victorian style, the building offers an owner-occupant arrangement that can combine personal living use with rental income from the remaining units, subject to applicable regulations for any short-term rental operation.
Key Highlights
- Fully restored 3‑unit property built in 1920 on a 4,254 SF lot in Sherman Heights, just east of Downtown San Diego
- Approximately 2,145 rentable SF across a two‑story building with a 3BD/1.5BA unit, a 1BD/1BA unit, and a studio loft
- 3‑bedroom unit is currently vacant, offering immediate occupancy for owner use
Local 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 | $57.9k | $27.00 |
| − Vacancy | −$3.0k | −$1.41 |
| EGI | $54.9k | $25.59 |
| − OpEx | −$16.5k | −$7.68 |
| NOI | $38.4k | $17.91 |
2,145 SF · lease $27.00/SF/yr · vacancy 5.22% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$548.9K
$480.3K – $640.4K
NOI $38,424 @ 7.0% cap · market cap 2.85%
Second Best
Apartment 5plus
$506.5K
$443.2K – $590.9K
NOI $35,453 @ 7.0% cap · market cap 2.63%
Theoretical Best
Specialty Retail
$847.2K
$741.3K – $988.4K
NOI $59,305 @ 7.0% cap · market cap 4.39%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Fully restored three-unit building with individually sub-metered water, including a vacant three-bedroom unit for immediate occupancy.
Where is this triplex located?
The property is located at 572 21st Street San Diego, CA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Fully restored 3‑unit property built in 1920 on a 4,254 SF lot in Sherman Heights, just east of Downtown San Diego; Approximately 2,145 rentable SF across a two‑story building with a 3BD/1.5BA unit, a 1BD/1BA unit, and a studio loft; 3‑bedroom unit is currently vacant, offering immediate occupancy for owner use
