Remodeled Eight-Unit Apartment
For Sale
$1,129,000
700 Blair Ave, Calexico, CA 92231
Residential Income, Calexico, CA
Property Size4,710 SF
Price / SF$239.70
Days on Market58
Property Features for 700 Blair Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
42
Bathrooms
21
Full bathrooms
21
Rooms
Bedroom 20, Bedroom 30, Bedroom 7, Bathroom 2, Bedroom 37, Bathroom 17, Bedroom 19, Bedroom 17, Bedroom 9, Bathroom 14, Bathroom 19, Bathroom 21, Bedroom 36, Bedroom 21, Bedroom 13, Bedroom 23, Bathroom 18, Bathroom 10, Bedroom 33, Bedroom 38, Bedroom 5, Bedroom 26, Bathroom 6, Bedroom 34, Bedroom 14, Bedroom 1, Bedroom 15, Bedroom 42, Bedroom 28, Bathroom 5, Bathroom 11, Bedroom 25, Bathroom 12, Bathroom 8, Bedroom 31, Bedroom 2, Bedroom 29, Bedroom 24, Bathroom 1, Bedroom 10, Bedroom 4, Bedroom 11, Bedroom 40, Bathroom 9, Bathroom 3, Bathroom 15, Bathroom 7, Bathroom 16, Bathroom 20, Bedroom 27, Bedroom 39, Bedroom 41, Bedroom 8, Bedroom 6, Bedroom 3, Bedroom 18, Bedroom 22, Bathroom 4, Bedroom 32, Bathroom 13, Bedroom 16, Bedroom 12, Bedroom 35
Parking
8
Directions
East on Blair
Subdivision
IMP CTY-CALEXICO (92231)
Standard status
Active
APN
058-373-006-000
Size
4,710 SF
Building Details
Number of units
8
Listing Agency:
American Group
(760) 768-8808
Listed By:
Manny Hernandez · License #01253348
(760) 427-3610
Added: Jul 15
Changed: Sep 5
Last Checked: Sep 10 at 5:06PM
MLS# 250042665
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.
Located at 700 Blair Ave in Calexico, California, this 4,710-square-foot apartment building contains eight residential units. Each residence is configured with two bedrooms and one bathroom, providing a consistent unit mix across the property.
The interiors were recently remodeled with modern finishes. The property is identified as a multifamily asset and carries an indicated cap rate around 8.00%. Its unit count, uniform floor plans, and updated condition provide a clear operating profile for a residential income property.
The interiors were recently remodeled with modern finishes. The property is identified as a multifamily asset and carries an indicated cap rate around 8.00%. Its unit count, uniform floor plans, and updated condition provide a clear operating profile for a residential income property.
Key Highlights
- Eight‑unit apartment building at 700 Blair Ave, Calexico, CA 92231
- All units feature a two‑bedroom, one‑bath layout
- 4,710 square feet of property size
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
$39,078
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
3.46%
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%
$781,560
$781.6K
Cap Rate 7%
$558,257
$558.3K
Cap Rate 9%
$434,200
$434.2K
Market Conditions
NOI Build-Up for 4,710 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
$73.5K $15.60/SF
− Vacancy
−$2.4K −$0.51/SF
EGI
$71.1K $15.09/SF
− OpEx
−$32.0K −$6.79/SF
NOI
$39.1K $8.30/SF
Area
Imperial County, CA
Vacancy
3.30%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
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%
$781,560
Cap Rate 7%
$558,257
Cap Rate 9%
$434,200
Alternative Uses
Best Use
Apartment 5plus
$558.3K
$488.5K – $651.3K
NOI $39,078 @ 7.0% cap · market cap 3.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,102 @ 7.0% cap · market cap 7.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
953
Businesses Nearby
Explore this area
Business Placement
Demographics for 92231, CA
39,542
Population
11,799
Households
3.4
Avg Household Size
36
Median Age
21%
College-Educated
65%
High-School Grad
68.6 sq mi
ZIP Area
576
Density / Sq Mi
$50,114
Median Household Income
$26,738
Median Earnings
$1,049
Median Rent
$281,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Eight two-bedroom residences with updated interiors form a compact multifamily asset in Calexico.
Where is this apartment building located?
The property is located at 700 Blair Ave Calexico, CA.
What is the asking price?
The asking price for this property is $1,129,000.
What are key features of this property?
This property features: Eight‑unit apartment building at 700 Blair Ave, Calexico, CA 92231; All units feature a two‑bedroom, one‑bath layout; 4,710 square feet of property size
