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3128 El Cajon Boulevard

C

San Diego, CA 92104

$1,195,000
NEW — 3d

Beds

2

Baths

0.5

Sqft

1,497

Year Built

1950

Days on Market

3

Property Type

Single Family

HOA/mo

N/A

MLS ID

NDP2605789

This property is in San Diego (92104). View neighborhood stats →

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About This Property

Welcome to one of the highest-density mixed-use development entitlements in North Park. This parcel is in the CC-3-9 zone on El Cajon Boulevard, with Complete Communities Housing Solutions Tier 3 eligibility at 6.5 FAR, plus Transit Area Overlay Zone, Transit Priority Area, and Mobility Zone 2 status. Two merged subdivision lots under one APN give it the scale many corridor sites lack.  The attached feasibility study is a listing-stage analysis to support an informed valuation decision. Modeled are three development paths: a low-capital single-ADU activation, a mid-capital small mixed use stack under base CC-3-9 zoning, and a full CCHS Tier 3 mixed-use redevelopment. The analysis considers the El Cajon Boulevard Gateway Improvement District, SDIA Airport Influence Area Review Area 2, Moderate Paleontological Sensitivity, slopes 25%+ designation, no Coastal Overlay or Coastal Height Limit constraint. Together, these conditions create three clear legal development pathways under current 2026 City of San Diego entitlements. Office previously rented for $4,500/mo. Use for rental or construction trailer to build.  Feasibility study in documents for review. The property is currently being utilized as office space and does not contain a shower or oven.

Mortgage Calculator

Est. Monthly Payment

$7,586

Principal & Interest$6,043
Property Tax$1,195
Insurance$349
%($239,000)
%

Location

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Investment Score

0D
Est. Monthly Rent
$3,170
Monthly Cashflow

Rent − PITIA

$-4,417
Full Cashflow

Incl. vacancy, PM, maint, capex

$-6,142

Mortgage (P+I)
$6,043
Cap Rate
-0.10%
Cash-on-Cash
-30.84%
DSCR

Need ≥ 1.25 for DSCR loan

0.42
Break-even Rent
$11,146

NOI (Annual)
$-1,187
Price-to-Rent

Lower = better for investors

31.4

* Defaults: 20% down, 6.5% rate, 30yr.

Estimates only. Not financial advice. Verify all figures independently with a licensed professional before making any investment decision.

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