3610 Logan Avenue
Atop 10% of multifamilySan Diego, CA 92113
One license per person in San Diego: whether you can hold it depends on you, not only the home.
13 licensed short-term rentals within ½ mile (6 whole home), from the cities' license and permit lists of Nov 13, 2026.
Pass at asking: -$1,648/mo full cashflow at 20% down, 7.36% rate.
Works at $984,401 (18% under asking), or at 40% down.
Rent $9,770/mo: 5 units of about 620 sqft, each priced from up to 10 closed leases within 0.5 mi ($9,320–$10,705).
Beds
—
Baths
—
Sqft
3,098
Year Built
1956
Days on Market
78
Property Type
Multi-Family
HOA/mo
N/A
MLS ID
PTP2606495
This property is in San Diego (92113). Browse neighborhood analytics →
About This Property
Rare opportunity to acquire a 5 unit property in Logan Heights, built in 1956/1957 and held by the same family since 1979. The offering includes two detached two bedroom cottages (782 square feet each) plus a two story rear building consisting of a two bedroom apartment upstairs, a one bedroom unit downstairs, and an additional legal studio, totaling approximately 3,098 square feet of combined living space. Long term ownership has kept rents well below market, offering a new buyer meaningful upside through both rent growth and interior modernization. All units are currently occupied, providing day one cash flow while a new owner phases in upgrades over time. Centrally located in one of San Diego's most active submarkets for multifamily investment, close to downtown, the trolley, and major freeway access. A strong candidate for value add investors or 1031 exchange buyers looking for scale and upside in the 92113 zip code.
Multifamily · 5 units
Valued on income: each unit priced from closed leases nearby, then added up. County records: 5 units.
| Unit | Units | Rent each | Subtotal |
|---|---|---|---|
| Average unit~620 sqft · 10 leases within 0.5 mi | 5 | $1,954 | $9,770 |
| Gross rent, all units | $9,770/mo | ||
The listing describes 3 × 2-bed, 1 × 1-bed, 1 × studio. Units of different sizes are priced as the average unit: by bed count alone, unit rents ran 17% off in our backtest.
- Gross rent multiplier
- 10.2
- Price per unit
- $240,000
- NOI (a year)
- $65,537
- Cap rate
- 5.46%
Price ÷ a year's gross rent
Median $331,250 across 31 listed 5+ unit buildings in San Diego County
Default vacancy, management, upkeep, tax, insurance
Its grade compares it with other multifamily listings only: a building valued on income isn't ranked against houses and condos.
Five or more units take a commercial loan, whose terms differ from a home loan's; the cashflow below uses the site's default 20% down, 30-year terms. FHA's owner-occupied 3.5% down covers 2–4 units only.
Compare other buildings on the small multifamily page.
Mortgage Calculator
Est. Monthly Payment
$8,171
Location
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Zoned Schools
Elementary
Ralph Waldo Emerson Elementary · grades PK-5 · San Diego Unified
Middle
Logan Memorial Educational Campus · grades PK-12 · San Diego Unified
High
Logan Memorial Educational Campus · grades PK-12 · San Diego Unified
The district's assigned schools for this parcel, from its attendance boundaries and rules. Boundaries change: confirm with the district before you buy.
Renovation math
Flagged Light Value-Add from the listing remarks — “value add”.
- Asking now
- $1.20M
- Worth finished
- $2.07M
- Budget to renovate
- $865,381
$387/sqft
$667/sqft × 3,098 sqft
$279/sqft to spend
Comparable finished homes nearby suggest this is worth $2.07M once it's brought to par — about $865,381 above the asking price. That spread is your renovation budget before the deal stops working.
Rent once renovated
- Rent at par
- $11,913/mo
- Cashflow at that rent
- $2/mo
$3.85/sqft × 3,098 sqft, median of 4 comps
cap rate 7.22%, DSCR 1.46
Buying at asking and achieving par rent, excluding the renovation spend itself. We don't publish a current-condition rent: no listing remark says how much work a home needs, and mid-renovation it earns nothing.
Based on 4 comparable homes of the same property type and size currently listed nearby — asking prices and modelled rents, not closed sales. A contractor's scope, not this page, decides what a renovation actually costs.
Comparable Properties
4 comps foundThis Property
$9,770
Comp Average
$7,586
2234 National Avenue
2,800 sqft · Multi-Family
$1.32M
Est. $10,542/mo
3964 Delta Street
1,558 sqft · Multi-Family
$1.15M
Est. $6,756/mo
3150 National Ave
2,100 sqft · Multi-Family
$1.25M
Est. $6,951/mo
4240 Gamma Street
1,552 sqft · Multi-Family
$1.20M
Est. $6,093/mo
Comps based on same zip code, similar beds (±1), price range (60-150%).
This is a 5-unit building: on the mid-term and short-term tabs, enter the rent, nightly rate and occupancy for all units combined.
Investment Score
5 units of about 620 sqft, each priced from up to 10 closed leases within 0.5 mi · $9,320–$10,705
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$1,648/mo short at 20% down; 40% down or +$2,140/mo rent closes it.
- Break-even price
- $984,401
- Break-even rent
- $11,910/mo
- Cashflow at 35% down
- −$406/mo
- Down payment to break even
- 40%
- Rate to break even
- 4.69%
18% under asking
$2,140/mo above the estimate
$480,000 cash
at 20% down
Need ≥ 1.25 for DSCR loan
Lower = better for investors
* Modelled at 20% down, 7.36% rate, 30yr · vacancy 8% · PM 10% · capex 5% · maintenance 1%/yr.
Estimates only. Not financial advice. Verify all figures independently with a licensed professional before making any investment decision.
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