4209 Wilson Avenue
Btop 30% of multifamilySan Diego, CA 92104
One license per person in San Diego: whether you can hold it depends on you, not only the home.
93 licensed short-term rentals within ½ mile (57 whole home), from the cities' license and permit lists of Nov 11, 2026.
Pass at asking: -$3,763/mo full cashflow at 20% down, 7.43% rate.
Works at $1,210,069 (29% under asking), or at 52% down.
Rent $12,070/mo: 5 units of about 657 sqft, each priced from up to 24 closed leases within 0.5 mi ($11,145–$13,410).
Beds
—
Baths
—
Sqft
3,283
Year Built
1958
Days on Market
213
Property Type
Multi-Family
HOA/mo
N/A
MLS ID
PTP2602732
This property is in San Diego (92104). View neighborhood stats →
About This Property
Back on the market no fault of seller. Big price reduction. Perfect investment property for Investors and Buyers. This 5 Unit Complex Located in a desirable area of North Park. 3 units 2/1 and 2 units 1/1. Complex has independent electricity meters, 4 attached Garages, Separate laundry room , front patio and 3 units have patio on the side and has alley access. Renters are month to month. Strong tenant demand on this area. Owner has Property Free and clear. Very centrally located close to freeway, shopping center, stores, etc. Buyers send me your offer!!!
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~657 sqft · 24 leases within 0.5 mi | 5 | $2,414 | $12,070 |
| Gross rent, all units | $12,070/mo | ||
The listing describes 3 × 2-bed, 2 × 1-bed. 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
- 11.7
- Price per unit
- $340,000
- NOI (a year)
- $75,417
- Cap rate
- 4.44%
Price ÷ a year's gross rent
Median $336,567 across 4 listed 5+ unit buildings in 92104
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
$11,640
Location
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Zoned Schools
Elementary
Edison Elementary · grades PK-5 · San Diego Unified
Middle
Wilson Middle · grades 6-8 · San Diego Unified
High
Hoover 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
5 comps foundThis Property
$12,070
Comp Average
$10,238
4010 Illinois St
3,590 sqft · Multi-Family
$2.00M
Est. $15,948/mo
4209 Wilson Avenue
3,283 sqft · Multi-Family
$1.70M
Est. $12,070/mo
4266 Cherokee Avenue
1,858 sqft · Multi-Family
$1.20M
Est. $7,059/mo
4319 Swift Avenue
2,280 sqft · Multi-Family
$1.45M
Est. $8,304/mo
3327 Polk Avenue
1,807 sqft · Multi-Family
$1.49M
Est. $7,809/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 657 sqft, each priced from up to 24 closed leases within 0.5 mi · $11,145–$13,410
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$3,763/mo short at 20% down; 52% down or +$4,887/mo rent closes it.
- Break-even price
- $1,210,069
- Break-even rent
- $16,957/mo
- Cashflow at 35% down
- −$1,992/mo
- Down payment to break even
- 52%
- Rate to break even
- 2.93%
29% under asking
$4,887/mo above the estimate
$884,000 cash
at 20% down
Need ≥ 1.25 for DSCR loan
Lower = better for investors
* Modelled at 20% down, 7.43% 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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