Triplex with 2024
641 43 Morrison St, San Diego, CA 92102
For Sale
$1,095,000
Triplex with three separate units plus a fully permitted 2024 studio ADU and five uncovered off-street parking spaces.
Property Size2,006 SF
Days on Market162
Property Features for 641 43 Morrison St
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Building Details
Building Size
Year Built
Units
Listing Agency:
Coldwell Banker Realty
Listed By:
Joe Gold
(858) 442-1061
Source:
Elliman
Added: Jun 3
Changed: Nov 10
Last Checked: Nov 10 at 9:00AM
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 Coldwell Banker Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This triplex offers three separate units configured for a range of occupancy or rental arrangements. The property includes a spacious 3-bedroom, 1-bath unit, a 2-bedroom, 1-bath unit, and a newly built, fully permitted studio ADU constructed in 2024. Several recent improvements are noted, including new water heaters for all units and a new roof for the middle unit.
The property is located in San Diego’s Mount Hope neighborhood, with convenient access to nearby shops, local markets, major freeways, Balboa Park, downtown San Diego, and regional employment centers.
On-site parking consists of five uncovered off-street spaces, supporting day-to-day convenience for occupants and guests.
The property is located in San Diego’s Mount Hope neighborhood, with convenient access to nearby shops, local markets, major freeways, Balboa Park, downtown San Diego, and regional employment centers.
On-site parking consists of five uncovered off-street spaces, supporting day-to-day convenience for occupants and guests.
Key Highlights
- Triplex with three separate units: 3 bed/1 bath, 2 bed/1 bath, and a studio ADU
- Fully permitted studio ADU built in 2024
- Five uncovered off‑street parking spaces for tenants or occupants
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,934
Cap Rate
3.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$718,680
$718.7K
Cap Rate 7%
$513,343
$513.3K
Cap Rate 9%
$399,267
$399.3K
Market Conditions
NOI Build-Up for 2,006 SF
Gross rent
$54.2K $27.00/SF
− Vacancy
−$2.8K −$1.41/SF
EGI
$51.3K $25.59/SF
− OpEx
−$15.4K −$7.68/SF
NOI
$35.9K $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 Rate 5%
$718,680
Cap Rate 7%
$513,343
Cap Rate 9%
$399,267
Alternative Uses
Best Use
Multifamily LT 5
$513.3K
$449.2K – $598.9K
NOI $35,934 @ 7.0% cap · market cap 3.28%
Second Best
Apartment 5plus
$473.6K
$414.4K – $552.6K
NOI $33,155 @ 7.0% cap · market cap 3.03%
Theoretical Best
Specialty Retail
$792.3K
$693.3K – $924.4K
NOI $55,462 @ 7.0% cap · market cap 5.07%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
570
Businesses Nearby
Explore this area
Business Placement
Demographics for 92102, CA
39,783
Population
15,622
Households
2.5
Avg Household Size
34
Median Age
29%
College-Educated
80%
High-School Grad
4.5 sq mi
ZIP Area
8,841
Density / Sq Mi
$71,319
Median Household Income
$40,142
Median Earnings
$1,855
Median Rent
$646,600
Median Home Value
Market
Average Price Trend$/SF for Triplexes in San Diego, CA
Properties on Market for Triplexes in San Diego
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Triplex with three separate units plus a fully permitted 2024 studio ADU and five uncovered off-street parking spaces.
Where is this triplex located?
The property is located at 641 43 Morrison St San Diego, CA.
What is the asking price?
The asking price for this property is $1,095,000.
What are key features of this property?
This property features: Triplex with three separate units: 3 bed/1 bath, 2 bed/1 bath, and a studio ADU; Fully permitted studio ADU built in 2024; Five uncovered off‑street parking spaces for tenants or occupants
