Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    3028 Howard Ave San Diego, CA 92104-1957

    • Apartment buildings
    • 2,320 SF
    • 0.08 lot acres
    OFF-MARKET
    Value Estimations
    $235,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-6671280
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 3028 Howard Ave

    Year built
    1987
    Lot size
    0.08 lot acres
    Property size
    2,320 SF
    Zone code
    R-3:RESTRICTED MULTIPLE
    Property type
    Apartment buildings
    APN
    446-233-11-00
    APU
    4462331100

    Description

    This well-maintained, six-unit apartment building presents a compelling investment opportunity in San Diego's desirable North Park neighborhood. The property, built in 1987, features a total of 2,320 square feet of net rentable space situated on a 3,583 square foot lot. The two-story building comprises five one-bedroom, one-bathroom units and one studio apartment, each with dedicated off-street parking (six spaces total). Convenient on-site laundry facilities and storage are also included. Currently operating at 66% occupancy, this stabilized investment offers a 3.10% cap rate at an asking price of $1,775,000. The property benefits from a conditional use permit (CUP) allowing for higher-density development, provided at least one resident per unit is 62 or older, or disabled, catering to a specific demographic. This presents potential for future value appreciation. The building's location within North Park offers proximity to local amenities and attractions, contributing to consistent rental demand. This is a value-add opportunity in a highly sought-after area known for its walkability and vibrant community. The property's features, including gated access and on-site laundry, are highly attractive to renters. The age-restricted aspect of the CUP contributes to a stable tenant base and consistent occupancy. This Class C multifamily property is located at 3028 Howard Ave, San Diego, CA 92104.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $235,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $255,000
      Market price range: $250k - $983k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    San Diego
    County
    San Diego
    State
    California
    Longitude
    -117.129
    Latitude
    32.7543
    CBSA code
    41740
    CBSA name
    SAN DIEGO-CARLSBAD-SAN MARCOS, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $2,960
    $33,738
    $192,294
    $226,032
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $270,000
      0.16 Acres

      4359 Alabama St

      APARTMENT HOUSE (5+ UNITS) • 0.16 Acres
      4359 Alabama St, San Diego, CA 92104-1067
      View Details
    • Value Estimation
      $280,000
      0.70 Acres

      3760 Texas St

      APARTMENT HOUSE (5+ UNITS) • 0.70 Acres
      3760 Texas St, San Diego, CA 92104-3347
      View Details
    • Value Estimation
      $250,000
      6,011 SF

      4053 Idaho St

      APARTMENT HOUSE (5+ UNITS) • 6,011 SF
      4053 Idaho St, San Diego, CA 92104-2565
      View Details
    • Value Estimation
      $330,000
      10,753 SF

      3928 Illinois St

      APARTMENT HOUSE (5+ UNITS) • 10,753 SF
      3928 Illinois St, San Diego, CA 92104-3058
      View Details
    • Value Estimation
      $275,000
      6,738 SF

      4160 Illinois St

      APARTMENT HOUSE (5+ UNITS) • 6,738 SF
      4160 Illinois St, San Diego, CA 92104-1980
      View Details
    • Value Estimation
      $165,000
      5,378 SF

      3727 Bancroft St

      APARTMENT HOUSE (5+ UNITS) • 5,378 SF
      3727 Bancroft St, San Diego, CA 92104-7705
      View Details

    Similar Nearby for Sale

    • $6,800,000

      26-Unit Senior Building Investment

      26-unit senior building in North Park with parking.
      4226 Utah St, San Diego, CA 92104
      View Details
    • $4,995,000

      San Diego Multifamily Investment Opportunity

      Motivated seller, renovated units, below market rents, high cap rate.
      3864 35Th St, San Diego, CA 92104
      View Details
    • $2,500,000

      Normal Heights Multifamily Investment Opportunity

      Seven-unit multifamily property in Normal Heights, San Diego.
      4343 Bancroft St, San Diego, CA 92104
      View Details
    • $4,250,000

      Charming Multifamily Property in North Park

      14-unit multifamily property in the heart of North Park.
      4347 30Th St, San Diego, CA 92104
      View Details
    • $3,850,000
      5,215 SF

      3151-69 Park Way

      Multifamily properties • 5,215 SF
      3151-69 Park Way, San Diego, CA 92104
      View Details
    • $2,685,000

      Multifamily Asset in High-Demand Corridor

      10-unit multifamily property in San Diego's high-demand Corridor submarket.
      4153 Wilson Ave, San Diego, CA 92104
      View Details

    Similar Nearby for Lease

    • $2,095 /Mo
      506 SF

      Remodeled North Park Apartment

      Recently remodeled 1BR apartment in North Park with in-unit laundry.
      4225 Florida St, San Diego, CA 92104
      View Details
    • Contact for pricing
      4,140 SF

      El Cajon Blvd Creative Office Space

      Prime San Diego North Park location, retail/office/tasting room.
      2311 El Cajon Blvd, San Diego, CA 92104
      View Details
    • Contact for pricing
      2,190 SF

      Retail Space with High Ceilings

      Retail space featuring 12' ceilings and potential outdoor area.
      3124-3138 University Ave, San Diego, CA 92104
      View Details
    • $2 SF/Yr
      1,198 SF

      North Park Retail/Office Space

      Prime retail/office space in a sought-after San Diego neighborhood.
      2900 N Park Way, San Diego, CA 92104
      View Details
    • $3 SF/Yr
      1,270 SF

      North Park Office Space Available

      Flexible office spaces in a sought-after San Diego commercial district.
      3823 Ray St, San Diego, CA 92104
      View Details
    • Contact for pricing
      2,654 SF

      North Park Retail Space Available

      Retail space in vibrant North Park, San Diego.
      3964 30Th St, San Diego, CA 92104
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    3028 Howard Ave
    San Diego, CA 92104-1957
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.