Renovated Triplex with Two-Car
For Sale
$1,335,000
Pending
5738 Meade, San Diego, CA 92115
MULTI_FAMILY - San Diego, CA
Property Size2,181 SF
Days on Market123
Property Features for 5738 Meade
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 1, Bathroom 3, Bedroom 5, Bathroom 4, Bedroom 6, Bedroom 4, Bedroom 3, Bathroom 2, Bedroom 2
Exterior features
Alley Access, Corner Lot, Public Street, Sidewalks, Street Paved
Subdivision
SAN DIEGO
Standard status
Pending
APN
472-092-13-00
Size
2,181 SF
Utilities
Cooling system
Central Air
Building Details
Year built
1950
Floors in Building
1
Number of units
3
Roof type
Composition, Rolled Hot Mop
Listing Agency:
Palisade Realty Inc
(619) 754-0218
Listed By:
Tom Parashos · License #01734375
(619) 850-4574
Added: Apr 29
Changed: Aug 18
Last Checked: Aug 29 at 11:06PM
MLS# 260010196
Copyright © 2026 San Diego MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This recently renovated triplex provides three separate living spaces: a spacious four-bedroom, two-bathroom unit, a two-bedroom, one-bathroom unit, and a studio. The property is described as well maintained and move-in ready, with updates intended to simplify leasing and occupancy. A two-car garage is also included, supporting day-to-day convenience for residents.
Located in San Diego’s College Area, the property is positioned for tenants and owner-occupants seeking proximity to shopping, schools, and major freeways. The address is 5738 Meade, San Diego, CA 92115, offering a straightforward commute option for residents.
For an investor, the configuration of three separate units can support diversified rental income within one building. For an owner-occupant, the mix of a larger family-style unit plus two smaller floor plans can allow flexibility in how space is used while potentially offsetting living expenses through rental income from the remaining units. The presence of on-site parking via the two-car garage adds practical value for tenants considering the property.
Located in San Diego’s College Area, the property is positioned for tenants and owner-occupants seeking proximity to shopping, schools, and major freeways. The address is 5738 Meade, San Diego, CA 92115, offering a straightforward commute option for residents.
For an investor, the configuration of three separate units can support diversified rental income within one building. For an owner-occupant, the mix of a larger family-style unit plus two smaller floor plans can allow flexibility in how space is used while potentially offsetting living expenses through rental income from the remaining units. The presence of on-site parking via the two-car garage adds practical value for tenants considering the property.
Key Highlights
- Multi‑family property with three separate living spaces: 4BD/2BA unit, 2BD/1BA unit, and a studio
- Recently renovated, well‑maintained interiors with Central Air for cooling
- Two‑car garage plus corner lot with alley access and public street frontage
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
$39,069
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
2.93%
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%
$781,380
$781.4K
Cap Rate 7%
$558,129
$558.1K
Cap Rate 9%
$434,100
$434.1K
Market Conditions
NOI Build-Up for 2,181 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
$58.9K $27.00/SF
− Vacancy
−$3.1K −$1.41/SF
EGI
$55.8K $25.59/SF
− OpEx
−$16.7K −$7.68/SF
NOI
$39.1K $17.91/SF
Area
San Diego, CA
Vacancy
5.22%
Lease Rate
$27.00 /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%
$781,380
Cap Rate 7%
$558,129
Cap Rate 9%
$434,100
Alternative Uses
Best Use
Multifamily LT 5
$558.1K
$488.4K – $651.2K
NOI $39,069 @ 7.0% cap · market cap 2.93%
Second Best
Apartment 5plus
$515.0K
$450.6K – $600.8K
NOI $36,048 @ 7.0% cap · market cap 2.70%
Theoretical Best
Specialty Retail
$861.4K
$753.8K – $1.01M
NOI $60,300 @ 7.0% cap · market cap 4.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,646
Businesses Nearby
Explore this area
Business Placement
Demographics for 92115, CA
64,251
Population
23,448
Households
2.7
Avg Household Size
30
Median Age
39%
College-Educated
87%
High-School Grad
6.2 sq mi
ZIP Area
10,363
Density / Sq Mi
$75,178
Median Household Income
$36,061
Median Earnings
$1,875
Median Rent
$722,500
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?
Triplex - Renovated three-unit triplex offering a four-bedroom, two-bedroom, and studio plus a two-car garage.
Where is this triplex located?
The property is located at 5738 Meade San Diego, CA.
What is the asking price?
The asking price for this property is $1,335,000.
What are key features of this property?
This property features: Multi‑family property with three separate living spaces: 4BD/2BA unit, 2BD/1BA unit, and a studio; Recently renovated, well‑maintained interiors with Central Air for cooling; Two‑car garage plus corner lot with alley access and public street frontage
