Mission Hills Fourplex
For Sale
$2,097,000
Pending
711 West Pennsylvania Avenue, San Diego, CA 92103
Fourplex in a desirable Mission Hills location.
Property Size3,492 SF
Days on Market152
Property Features for 711 West Pennsylvania Avenue
General Information
Standard status
Pending
Size
3,492 SF
Property subtype
Residential Income
Amenities
2 Story
Heat Pump(s)
Combination Heating
4.0
N/K
2
4
8
Composition
Partial
1
Wood/Stucco
Building Details
Year Built
1949
Listing Agency:
Vallera Investment Properties
Listed By:
Robert V Vallera Jr. · License #00818308
(858) 458-3337
Source:
Compass
Added: Apr 6
Changed: Sep 4
Last Checked: Sep 1 at 9:07PM
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 Vallera Investment Properties
Investment Insights
Based on property information with market context.
The property at 705-711 West Pennsylvania Avenue is a fourplex featuring two-bedroom units. Located at the southwest corner of Eagle Street and West Pennsylvania Avenue, the property is situated in an area primarily consisting of single-family homes, north of the Lindbergh Field flight path and south of the Mission Hills neighborhood retail district. Building updates include an updated electrical panel, mini-split air conditioning units, and dual-pane windows. The exterior has been recently painted. The kitchens feature original Mid-Century two-tone tile counters, and the property includes hardwood floors. The location has a walk score of 82, indicating it is very walkable, a transit score of 58, indicating good transit, and a bike score of 42, indicating it is somewhat bikeable. This property is located in Mission Hills.
Key Highlights
- Prime Mission Hills adjacent location in a quiet enclave of single‑family homes.
- Fourplex with ample‑sized two‑bedroom units.
- Updated with mini‑split air conditioning, dual‑pane windows, and updated electrical panel.
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
$62,554
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
2.98%
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%
$1,251,080
$1.3M
Cap Rate 7%
$893,629
$893.6K
Cap Rate 9%
$695,044
$695.0K
Market Conditions
NOI Build-Up for 3,492 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
$94.3K $27.00/SF
− Vacancy
−$4.9K −$1.41/SF
EGI
$89.4K $25.59/SF
− OpEx
−$26.8K −$7.68/SF
NOI
$62.6K $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%
$1,251,080
Cap Rate 7%
$893,629
Cap Rate 9%
$695,044
Alternative Uses
Best Use
Multifamily LT 5
$893.6K
$781.9K – $1.04M
NOI $62,554 @ 7.0% cap · market cap 2.98%
Second Best
Apartment 5plus
$824.5K
$721.5K – $961.9K
NOI $57,716 @ 7.0% cap · market cap 2.75%
Theoretical Best
Specialty Retail
$1.38M
$1.21M – $1.61M
NOI $96,547 @ 7.0% cap · market cap 4.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,023
Businesses Nearby
Explore this area
Business Placement
Demographics for 92103, CA
33,311
Population
21,363
Households
1.6
Avg Household Size
42
Median Age
63%
College-Educated
97%
High-School Grad
3.7 sq mi
ZIP Area
9,003
Density / Sq Mi
$96,887
Median Household Income
$69,732
Median Earnings
$2,020
Median Rent
$986,800
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?
Quadplex - Fourplex in a desirable Mission Hills location.
Where is this quadplex located?
The property is located at 711 West Pennsylvania Avenue San Diego, CA.
What is the asking price?
The asking price for this property is $2,097,000.
What are key features of this property?
This property features: Prime Mission Hills adjacent location in a quiet enclave of single‑family homes.; Fourplex with ample‑sized two‑bedroom units.; Updated with **mini‑split air conditioning**, **dual‑pane windows**, and updated electrical panel.
