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    4674-78 Firestone St San Diego, CA 92117
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    4674-78 Firestone St San Diego, CA 92117

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    • Apartment buildings
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    Cap Rate Potential
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    • Apartment buildings

    Property Details for 4674-78 Firestone St

    Year built
    2024
    Property type
    Apartment buildings

    Description

    This exceptional multifamily investment opportunity presents a newly constructed, Class A apartment building in San Diego's desirable Clairemont neighborhood. The property comprises twelve units across six buildings, featuring a mix of one-bedroom/one-bathroom and a three-bedroom/two-bathroom unit. Built in 2024, the 5,738 square foot complex boasts a 4.75% cap rate and is priced at $5,525,000 ($962.88/sq ft and $460,417 per unit). Units showcase contemporary design with 10-foot ceilings, oversized windows, granite countertops, stainless-steel appliances, luxury vinyl plank flooring, and in-unit laundry. Tenants enjoy a common area with a gazebo and BBQ. The property's prime location offers easy access to major freeways (I-805, I-5, I-8, and Highway 52), beaches, and employment centers like UTC, Kearny Mesa, Mission Valley, and Downtown San Diego. The property benefits from drought-tolerant landscaping, energy-efficient lighting, and rooftop solar. This is a rare chance to acquire a high-demand, luxury asset with potential for long-term rental premiums. The property is exempt from rent control measures (AB-1482) for 15 years. The address is 4674-78 Firestone St, San Diego, CA 92117, with APN 3551410300.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    San Diego
    County
    San Diego
    State
    California
    Longitude
    -117.191
    Latitude
    32.839

    Comparable in this City

    • Value Estimation by Request
      0.14 Acres

      4520 Clairemont Dr

      APARTMENT HOUSE (5+ UNITS) • 0.14 Acres
      4520 Clairemont Dr, San Diego, CA 92117-5541
      View Details
    • Value Estimation by Request
      0.14 Acres

      4526 Clairemont Dr

      APARTMENT HOUSE (5+ UNITS) • 0.14 Acres
      4526 Clairemont Dr, San Diego, CA 92117-5542
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    • Value Estimation by Request
      1.10 Acres

      4338 Clairemont Mesa Blvd, Unit 40

      APARTMENT HOUSE (5+ UNITS) • 1.10 Acres
      4338 Clairemont Mesa Blvd, San Diego, CA 92117-1947
      View Details
    • Value Estimation by Request
      0.62 Acres

      4352 Clairemont Mesa Blvd, Unit 62

      APARTMENT HOUSE (5+ UNITS) • 0.62 Acres
      4352 Clairemont Mesa Blvd, San Diego, CA 92117-1900
      View Details
    • Value Estimation
      $2,930,000
      26,442 SF

      3405 Cowley Way, Unit 25

      APARTMENT HOUSE (5+ UNITS) • 26,442 SF
      3405 Cowley Way, San Diego, CA 92117-5805
      View Details
    • Value Estimation
      $2,240,000
      9,999 SF

      3730 Southview Dr

      APARTMENT HOUSE (5+ UNITS) • 9,999 SF
      3730 Southview Dr, San Diego, CA 92117-5324
      View Details

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      New Multifamily Asset Near Coast

      Five-unit multifamily property completed in June 2025 near San Diego coastline.
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      Clairemont Multifamily Investment Opportunity

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    Similar Nearby for Lease

    • $2 SF/Yr
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      Retail Property 100% Leased

      Retail property currently 100% leased with no availability.
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      Retail Property 100% Leased

      Retail property, currently 100% leased, no availability.
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    • Contact for pricing
      1,005 SF

      Retail Space in Established Market

      Retail space for rent in a high-density area.
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      Office Space Available For Rent

      Office space available for rent at 4375 Jutland Drive.
      4375 Jutland Dr, San Diego, CA 92117
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    • Contact for pricing
      4,500 SF

      Clairemont Mesa Shopping Center Space

      16,217 SF shopping center in Clairemont Mesa.
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    San Diego, CA 92117
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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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