Renovated Triplex with
For Sale
$1,335,000
Pending
5738 Meade, San Diego, CA 92115
Residential Income, San Diego, CA
Property Size2,181 SF
Days on Market133
Property Features for 5738 Meade
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 1, Bathroom 2, Bedroom 4, Bathroom 3, Bathroom 1, Bathroom 4, Bedroom 6, Bedroom 2, Bedroom 5
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
Rolled Hot Mop, Composition
Listing Agency:
Palisade Realty Inc
(619) 754-0218
Listed By:
Tom Parashos · License #01734375
(619) 850-4574
Added: Apr 29
Changed: Sep 7
Last Checked: Sep 8 at 6:06PM
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 2,181-square-foot triplex contains three independent living spaces: a four-bedroom, two-bathroom residence, a two-bedroom, one-bathroom unit, and a studio. The property has been recently renovated and includes central air conditioning, a two-car garage, and a composition and rolled hot mop roof. Built in 1950, the building offers a functional configuration for multifamily use.
Located in San Diego’s College Area, the property sits on a corner lot with alley access, a paved public street, and sidewalks. Shopping, schools, and major freeways are identified nearby. The property is also served by street access and includes separate residential spaces that can support varied occupancy arrangements.
Located in San Diego’s College Area, the property sits on a corner lot with alley access, a paved public street, and sidewalks. Shopping, schools, and major freeways are identified nearby. The property is also served by street access and includes separate residential spaces that can support varied occupancy arrangements.
Key Highlights
- 2,181‑square‑foot triplex with three separate living spaces
- Unit mix includes 4 bedrooms/2 bathrooms, 2 bedrooms/1 bathroom, and a studio
- Recently renovated property built in 1950
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 - Three separate living spaces include a four-bedroom home, a two-bedroom unit, and a studio.
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: 2,181‑square‑foot triplex with three separate living spaces; Unit mix includes 4 bedrooms/2 bathrooms, 2 bedrooms/1 bathroom, and a studio; Recently renovated property built in 1950
