3794 National Ave · San Diego, CA 92113

$499,000

16 bd · 16.0 ba · 2,017 sqft · MultiFamily public records · 32 Days on market

Built 1935 3,547 sqft lot

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.8/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

Great FOURPLEX opportunity in Logan Heights! Well-located fourplex offering strong income potential. Perfect for investors looking to maximize density in a rapidly growing area. Conveniently located near freeways, Downtown San Diego, and public transit. Rare chance to secure existing cash flow with significant upside potential! * * listing for the corner bldg ONLY * pictures show the BUNDLE SALE * LOTS are not included at $499k * *

Key facts

• 3,547 sq ft lot
• Built 1935
• Listed 32 days

Property features AI

Finance

• Other: Listed by eXp Realty of California, Inc.
• Financial info: Income/expense details not provided
• HOA & community: Details not provided

Exterior

• Parking: Details not provided
• Security: Details not provided
• Utilities: Details not provided
• Home design: Quadruplex; Residential income property (commercial-residential income)
• Construction: Construction details not provided
• Exterior features: Lot approximately 0.08 acres; Zoned R-4 (multi-family)

Interior

• Kitchen: Details not provided
• Bedrooms: Details not provided
• Flooring: Details not provided
• Bathrooms: 10 full bathrooms
• Heating & cooling: Details not provided
• Interior features: Unbranded virtual tour available
• Laundry & utility: Details not provided

What this means for you Summary

Snapshot

• This is a 4 × 4-bed/4.0-bath units multifamily listed at $499k.

Deal economics

• At list price, monthly cash flow is $5k ($61k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $499k).
• Recommended offer: $484k (3.0% below list) — sets the bar for market timing.
• Cap rate 18.5% vs local median 2.0% in San Diego — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 75/100 on livability (#123 in CA, #4,206 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment A+; Watch: health & safety C-, crime D+, cost of living F.
• San Diego Unified (urban): math 19% / reading 29% proficiency, ranked #393 of 517 in CA (top 76%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents flat; 76 active listings in the ZIP; 11,759 units permitted in San Diego County in 2024 (7,244 in 5+ unit buildings).
• At $10,716/mo this rent would consume 208% of the median local household income ($62k/yr) (locally 3046% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• San Diego County population projected at +20% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.7% rent growth), your $140k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($484k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $484,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
9. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.15% ✓
• Cap rate: 18.55%
• Cash-on-cash: 43.76%
• DSCR: 2.95
• GRM: 3.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.74% rent growth · sell at horizon

5-year hold

• IRR: 38.1%
• Equity multiple: 2.57×
• Total profit: $219,959
• Equity at exit: $74,403

10-year hold

• IRR: 43.5%
• Equity multiple: 4.70×
• Total profit: $516,434
• Equity at exit: $43,144

Cash invested: $139,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 18 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City: — inherits STATE

AB1482 statewide rent cap (10% + CPI). Cities (SF/LA/Berkeley) layer stricter rules. Just-cause statewide.

Methodology + full state rankings →

ZIP-level market 92113

• Rents YoY: 0.7%
• Active inventory: 76
• Price-to-rent: 15.5×

Monthly cashflow live

• Estimated rent: $10,716 medium
• Mortgage (P&I): −$2,617
• Tax from tax record: −$545 /mo · $6,545/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,250
• Net cashflow: $5,096

Break-even live

Break-even rent $4,266

Max offer price $499,000

Occupancy floor 47%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	4	4	$10,716
Total (4 units)			$10,716

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $124,750
• Closing costs: $14,970
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-02
   status $499,000 Pending 32 DOM
2. 2026-06-01
   days on market $499,000 Active 32 DOM
3. 2026-05-31
   days on market $499,000 Active 31 DOM
4. 2026-04-30
   listed $999,000 Active
5. 2026-04-30
   historical
6. 2026-04-30
   historical
7. 2026-04-30
   listed $499,000 Active
8. 2026-04-21
   price $1,149,000
9. 2026-03-25
   listed $1,100,000 Active
10. 2026-03-25
    listed $549,000 Active
11. 2015-02-05
    historical
12. 2014-10-29
    listed $940,000 Active
13. 2006-06-21
    soldstatus $500,000
14. 1992-05-22
    soldstatus $65,000
15. 1991-09-10
    soldstatus $73,636
16. 1989-11-01
    soldstatus $114,000
17. 1989-03-29
    soldstatus $77,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $6,545 · $545/mo
• Projected year-2 tax: $6,545 · $545/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥86°F today · 20 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $128,592
• − Mortgage interest: −$27,952
• − Property taxes: −$6,545
• − Insurance: −$2,495
• − Repairs & maintenance: −$10,287
• − Management: −$10,287
• − Depreciation: −$14,516
• Taxable income: $56,509
• Est. tax owed @ 24.0%: −$13,562
• After-tax cash flow: $47,584/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: San Diego Unified
• NCES district ID: 0634320
• Math proficiency: 19% ▼ -29.00%
• Reading proficiency: 29% ▼ -28.00%
• Median HH income: $61,673
• Composite: 22.31/100
• National rank: #8135
• State rank: #393 of 517 in CA

Livability — San Diego

• Score: 75/100
• State rank: #123
• US rank: #4206

Category grades

Amenities A+ Commute A+ Cost of living F Crime D+ Employment A+ Housing C+ Health & safety C- User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Diego, CA
• County: San Diego County · 3,178,799 people
• City population: 1,397,612
• Metro: San Diego-Chula Vista-Carlsbad, CA
• Population (ZIP): 48,215
• Household income: $61,819
• Rent vs Own: 69.8% rent · 30.2% own
• Severe rent burden: 3046.0

Population outlook (San Diego County) Hauer SSP2

• Today (2025): 3,678,185 people
• By 2030: 3,856,546 · +4.8%
• By 2040: 4,171,407 · +13.4%
• By 2050: 4,421,607 · +20.2%
• By 2075: 4,831,599 · +31.4%
• By 2100: 4,832,502 · +31.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (78%)
• Race & ethnicity: Hispanic / Latino 78% Two or more races 16% Black 10% White 7% Asian 3% Native American 3%
• Hispanic origin (detail): Mexican 73%
• Foreign-born: 32% · Canada, Vietnam
• Languages at home: 31% English-only · Spanish 65% Tagalog/Filipino 1% Vietnamese 1%

Political lean MEDSL · San Diego

• 2024 margin: D (+16.8) · D 56.9% · R 40.1% · Other 2.9%
• 2008→2024 swing: +6.6pp toward D · 2008: 10.2pp · 2024: 16.8pp
• All cycles: 2024: D+16.8 2020: D+22.8 2016: D+17.8 2012: D+5.1 2008: D+10.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -525.21%
• Current HPI: 474.0942
• Rent YoY: ▲ 0.74%
• Metro: San Diego-Chula Vista-Carlsbad, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+548.1% since first listed

14 events — show timeline

• 2026-04-30 Listed $499,000 SDMLS
• 2026-04-30 Listing Removed — SDMLS
• 2026-04-30 Listing Removed — SDMLS
• 2026-04-30 Listed $999,000 SDMLS
• 2026-04-21 Price Changed $1,149,000 SDMLS
• 2026-03-25 Listed $549,000 SDMLS
• 2026-03-25 Listed $1,100,000 SDMLS
• 2015-02-05 Listing Removed — SDMLS
• 2014-10-29 Listed $940,000 SDMLS
• 2006-06-21 Sold (Public Records) $500,000 Public Records
• 1992-05-22 Sold (Public Records) $65,000 Public Records
• 1991-09-10 Sold (Public Records) $73,636 Public Records
• 1989-11-01 Sold (Public Records) $114,000 Public Records
• 1989-03-29 Sold (Public Records) $77,000 Public Records

Property tax history

+4.2%/yr

Latest (2025): $6,545 · +14.7% YoY. Source: county tax records.