4154 Estrella Avenue
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4154 Estrella Avenue

Ctop 80% of multifamily

San Diego, CA 92105

$1,700,000
STR-eligible · San Diego Tier 3 · TOT 12.75%

One license per person in San Diego: whether you can hold it depends on you, not only the home.

15 licensed short-term rentals within ½ mile (7 whole home), from the cities' license and permit lists of Nov 13, 2026.

Pass at asking: -$4,445/mo full cashflow at 20% down, 7.36% rate.

Works at $1,118,418 (34% under asking), or at 58% down.

Rent $11,100/mo: 6 units of about 502 sqft, each priced from up to 13 closed leases within 0.5 mi ($10,086–$12,342).

Beds

—

Baths

—

Sqft

3,011

Year Built

1950

Days on Market

149

Property Type

Multi-Family

HOA/mo

N/A

MLS ID

NDP2605804

This property is in San Diego (92105). View neighborhood stats →

Virtual Tour

About This Property

We're pleased to present 4154-4158 Estrella Avenue, a renovated 6-unit multifamily investment opportunity located in the highly accessible Colina Del Sol / City Heights submarket of San Diego. Situated on an approximately 6,291 square foot lot, the property consists of six apartment units totaling approximately 3,011 square feet and features a desirable unit mix of (1) two-bedroom/one-bath unit, (3) one-bedroom/one-bath units, and (2) studio units. Built in 1950, the property offers investors a well-maintained asset with stable in-place income, operational efficiencies, and continued rental upside. The property has benefited from significant capital improvements, including interior and exterior renovations, new windows, upgraded common areas, and a professionally maintained communal courtyard that enhances tenant appeal and livability. Additional amenities include on-site laundry facilities and six parking spaces consisting of two single surface spaces and two tandem parking areas. The property is also separately metered for gas and electric, helping reduce operating expenses and improve management efficiency. Located in the heart of central San Diego, the property provides residents with convenient access to neighborhood shopping, dining, schools, public transportation, and major employment centers. The asset benefits from exceptional connectivity via Interstate 15, Interstate 805, and State Route 94, allowing quick access to Downtown San Diego, Mission Valley, North Park, SDSU, and numerous employment hubs throughout the region. City Heights and Colina Del Sol continue to experience strong rental demand driven by their central location, diverse community, and ongoing neighborhood reinvestment. With an attractive unit mix, recent renovations, utility efficiencies, and proximity to major transportation corridors, 4154-4158 Estrella Avenue presents an outstanding opportunity for investors seeking both immediate cash flow and long-term appreciation potential in one of San Diego's most established urban rental markets. Buyer to verify all property information, including but not limited to square footage, lot size, unit count, unit mix, parking configuration, utility metering, permits, financial information, and market rental assumptions.

Multifamily · 6 units

Valued on income: each unit priced from closed leases nearby, then added up. County records: 6 units.

UnitUnitsRent eachSubtotal
Average unit~502 sqft · 13 leases within 0.5 mi6$1,850$11,100
Gross rent, all units$11,100/mo

The listing describes 1 × 2-bed, 3 × 1-bed, 2 × 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
12.8

Price ÷ a year's gross rent

Price per unit
$283,333

Median $331,250 across 31 listed 5+ unit buildings in San Diego County

NOI (a year)
$65,872

Default vacancy, management, upkeep, tax, insurance

Cap rate
3.87%

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

$11,575

Principal & Interest$9,379
Property Tax$1,700
Insurance$496
%($340,000)
%
Loan Term

Location

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Zoned Schools

  • Elementary

    Ibarra Elementary · grades K-5 · San Diego Unified

  • Middle

    Mann Middle · grades 6-8 · San Diego Unified

  • High

    Crawford High · grades 9-12 · 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.

Comparable Properties

3 comps found

This Property

$11,100

vs

Comp Average

$10,767

Comps based on same zip code, similar beds (±1), price range (60-150%).

This is a 6-unit building: on the mid-term and short-term tabs, enter the rent, nightly rate and occupancy for all units combined.

Investment Score

41C
Est. Monthly Rent
$11,100

6 units of about 502 sqft, each priced from up to 13 closed leases within 0.5 mi · $10,086–$12,342

Monthly Cashflow

Rent − PITIA

-$475
Full Cashflow

Incl. vacancy, PM, maint, capex

-$4,445

What would make this work?

$4,445/mo short at 20% down; 58% down or +$5,773/mo rent closes it.

Break-even price

34% under asking

$1,118,418
Break-even rent

$5,773/mo above the estimate

$16,873/mo
Cashflow at 35% down
−$2,686/mo
Down payment to break even

$986,000 cash

58%
Rate to break even

at 20% down

1.86%

Mortgage (P+I)
$9,379
Cap Rate
3.87%
Cash-on-Cash
-15.69%
DSCR

Need ≥ 1.25 for DSCR loan

0.96

NOI (Annual)
$65,872
Price-to-Rent

Lower = better for investors

12.8

* 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.

Open Full Calculator
CCashflow−$4,445/mo