Updated Two-Home Multifamily
For Sale
$970,000
8012-14 Palm St, Lemon Grove, CA 91945
Two residences share an oversized parcel with a detached garage, solar panels, mature fruit trees, and outdoor space.
Property Size1,928 SF
Price / SF$503.11
Days on Market149
Property Features for 8012-14 Palm St
General Information
Standard status
Active
Size
1,928 SF
Property subtype
Multi-Family
Building Details
Year Built
1948
Listing Agency:
Harcourts One
Listed By:
Stephanie M Klein stephanie.klein@harcourtsone.com · License #02178836
(760) 703-2625
Source:
Findhomesinsandiegoarea
Added: May 20
Changed: Oct 3
Last Checked: Oct 14 at 11:06PM
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 Harcourts One
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Investment Insights
Based on property information with market context.
Located at 8012-14 Palm St in Lemon Grove, this multifamily property includes two updated homes on one parcel. Both residences offer upgraded kitchens and bathrooms, spacious interiors, natural light, and outdoor areas. The property was built in 1948 and includes a detached two-car garage for parking or storage.
Unit 8012 has solar panels that provide electricity, with the buyer assuming the solar purchase agreement at closing. The oversized parcel includes mature apple, fig, orange, avocado, grapefruit, nectaplum, lemon, dragon fruit, and apricot trees. Shopping, dining, parks, schools, and freeway access are located nearby, while the property retains a residential setting.
Unit 8012 has solar panels that provide electricity, with the buyer assuming the solar purchase agreement at closing. The oversized parcel includes mature apple, fig, orange, avocado, grapefruit, nectaplum, lemon, dragon fruit, and apricot trees. Shopping, dining, parks, schools, and freeway access are located nearby, while the property retains a residential setting.
Key Highlights
- Two updated residences on one parcel at 8012‑14 Palm St
- Detached two‑car garage provides additional parking or storage
- Unit 8012 includes solar panels; buyer to assume the solar purchase agreement at closing
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,035
Cap Rate
3.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$640,700
$640.7K
Cap Rate 7%
$457,643
$457.6K
Cap Rate 9%
$355,944
$355.9K
Market Conditions
NOI Build-Up for 1,928 SF
Gross rent
$61.3K $31.80/SF
− Vacancy
−$3.1K −$1.59/SF
EGI
$58.2K $30.21/SF
− OpEx
−$26.2K −$13.59/SF
NOI
$32.0K $16.62/SF
Area
San Diego County, CA
Vacancy
5.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$640,700
Cap Rate 7%
$457,643
Cap Rate 9%
$355,944
Alternative Uses
Best Use
Apartment 5plus
$457.6K
$400.4K – $533.9K
NOI $32,035 @ 7.0% cap · market cap 3.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$883.3K
$772.9K – $1.03M
NOI $61,834 @ 7.0% cap · market cap 6.37%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
860
Businesses Nearby
Explore this area
Business Placement
Demographics for 91945, CA
27,814
Population
9,715
Households
2.9
Avg Household Size
38
Median Age
20%
College-Educated
89%
High-School Grad
4.0 sq mi
ZIP Area
6,954
Density / Sq Mi
$79,381
Median Household Income
$41,727
Median Earnings
$1,769
Median Rent
$640,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two residences share an oversized parcel with a detached garage, solar panels, mature fruit trees, and outdoor space.
Where is this multifamily property located?
The property is located at 8012-14 Palm St Lemon Grove, CA.
What is the asking price?
The asking price for this property is $970,000.
What are key features of this property?
This property features: Two updated residences on one parcel at 8012‑14 Palm St; Detached two‑car garage provides additional parking or storage; Unit 8012 includes solar panels; buyer to assume the solar purchase agreement at closing
