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    Renovated 5-Unit Multifamily Property Title is generated by Realmo AI

    931 Regal Rd., Encinitas, CA 92024

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    New
    For Sale
    $3,400,000

    Five newly renovated residences feature upgraded kitchens, updated electrical, new AC units, and a new roof.

    Type:Commercial
    Added:
    Jun 4, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 6 at 4:03 am

    Property Features for 931 Regal Rd.

    General Information

    Standard status
    Active
    Property subtype
    Commercial

    We can help!

    Listing Contact
    Anna Marie Barnard
    Anna Marie Barnard

    Listing agent Anna Marie Barnard License #01087778

    Listing office

    Listing date Jun 4, 2026

    Source Elliman

    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 Anna Marie Barnard

    HighLights

    • Newly renovated 5‑unit multifamily property in Encinitas
    • Unit mix: three 2BD/1BA units and two 1BD/1BA units (8 beds, 8 baths total)
    • Renovations include quartz countertops, renovated kitchens and bathrooms, and tile flooring throughout
    • Upgrades include updated electrical systems, new AC units serving the newly built units, and a new roof
    • Each residence has private enclosed backyards with mature landscaping

    Overview

    931–937 Regal Road presents a newly renovated 5-unit multifamily property configured as the south half of a mirror-image courtyard development. The tenant mix consists of three two-bedroom, one-bath units and two one-bedroom, one-bath units, for a total of eight bedrooms and eight bathrooms. Renovations include remodeled kitchens and bathrooms, quartz countertops, tile flooring throughout, updated electrical systems, and newly installed AC units serving the newly built units, along with a new roof. Each residence is described as offering abundant natural light, large private enclosed backyards, and mature landscaping within the courtyard setting.

    The property is located in the coastal community of Encinitas, within North County San Diego. WalkScore is listed at 70 (Very Walkable), and BikeScore is listed at 44 (Somewhat Bikeable). The public remarks also note that the adjacent 5-unit property is available separately.

    For buyers seeking a small, low-density multifamily asset, the property’s combination of unit-by-unit renovations completed from 2020 to 2025 and the updated building systems may support long-term operational consistency. The enclosed backyard amenities and courtyard layout provide a more private, residential feel than typical higher-density apartment product.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Encinitas
    County
    San Diego
    State
    California
    Longitude
    -117.2812023
    Latitude
    33.0402629

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    FAQs

    What type of property is this?
    Apartment building - Five newly renovated residences feature upgraded kitchens, updated electrical, new AC units, and a new roof.
    Where is this apartment building located?
    The property is located at 931 Regal Rd. Encinitas, CA.
    What is the asking price?
    The asking price for this property is $3,400,000.
    What are key features of this property?
    This property features: Newly renovated 5‑unit multifamily property in Encinitas; Unit mix: three 2BD/1BA units and two 1BD/1BA units (8 beds, 8 baths total); Renovations include quartz countertops, renovated kitchens and bathrooms, and tile flooring throughout
    (619) 840-6683
    We can help!
    Listing Contact
    Anna Marie Barnard
    Anna Marie Barnard
    Real Estate License ID: 01087778
    Learn More
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    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.

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    931 Regal Rd., Encinitas, CA 92024
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