4240 Gamma Street
Ctop 80% of multifamilySan Diego, CA 92113
One license per person in San Diego: whether you can hold it depends on you, not only the home.
14 licensed short-term rentals within ½ mile (9 whole home), from the cities' license and permit lists of Nov 13, 2026.
Pass at asking: -$4,472/mo full cashflow at 20% down, 7.36% rate.
Works at $613,914 (49% under asking), or at 75% down.
Rent $6,093/mo: 3 units of about 517 sqft, each priced from up to 18 closed leases within 1 mi ($5,256–$7,233).
Beds
—
Baths
—
Sqft
1,552
Year Built
1952
Days on Market
101
Property Type
Multi-Family
HOA/mo
N/A
MLS ID
PTP2605843
This property is in San Diego (92113). Browse neighborhood analytics →
About This Property
Great Investment....3 Unit Residential Income Property. Rent all three Units or live in one and rent our the other two. Potential to increase rents and build more units.
Small multifamily · 3 units
Valued on income: each unit priced from closed leases nearby, then added up. County records: 3 units.
| Unit | Units | Rent each | Subtotal |
|---|---|---|---|
| Average unit~517 sqft · 18 leases within 1 mi | 3 | $2,031 | $6,093 |
| Gross rent, all units | $6,093/mo | ||
- Gross rent multiplier
- 16.4
- Price per unit
- $399,667
- NOI (a year)
- $29,377
- Cap rate
- 2.45%
Price ÷ a year's gross rent
Median $383,333 across 5 listed 2–4 unit buildings in 92113
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.
Leased here recently
- 1-bed · $2,200 · Sep 2024
House hack with FHA
Live in the one unit, rent the other 2.
FHA likely won't lend on this one at this price. For 3 and 4 units it counts 75% of all the units' rent ($4,570/mo), and that has to cover the full payment ($10,192/mo). The numbers below are for reference.
- Down payment
- $41,965
- Your cost to live there
- $8,063/mo
- More than renting it
- $6,032/mo
3.5% · plus closing costs
After $4,062/mo from the other units
vs $2,031/mo to rent the same unit
How this is figured
- Loan $1,177,283 ($1,157,035 + 1.75% upfront mortgage insurance) at 7.11% (Freddie Mac 30-year average, week of Nov 12, 2026), 30 years: $7,920/mo
- FHA mortgage insurance $723/mo · property tax $1,199/mo · insurance $350/mo
- Vacancy, management and capex on the rented units, upkeep on the building: $1,933/mo
- FHA allows 3.5% down on 2–4 units when you live in one, up to HUD's 2026 San Diego County limit for 3 units ($1,708,400). Lenders count only part of the other units' rent toward qualifying.
Compare other buildings on the small multifamily page.
Mortgage Calculator
Est. Monthly Payment
$8,164
Location
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Zoned Schools
Elementary
Chavez Elementary · grades PK-5 · San Diego Unified
Middle
Knox Middle · grades 6-8 · San Diego Unified
High
Lincoln 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
4 comps foundThis Property
$6,093
Comp Average
$5,510
1525 42nd Street
1,254 sqft · Multi-Family
$765K
Est. $4,792/mo
4146 Delta Street
6bd / 3.5ba · 1,495 sqft · Duplex
$970K
Est. $5,376/mo
3964 Delta Street
1,558 sqft · Multi-Family
$1.15M
Est. $6,756/mo
1702 Una Street
1,200 sqft · Multi-Family
$989K
Est. $5,116/mo
Comps based on same zip code, similar beds (±1), price range (60-150%).
This is a 3-unit building: on the mid-term and short-term tabs, enter the rent, nightly rate and occupancy for all units combined.
Investment Score
3 units of about 517 sqft, each priced from up to 18 closed leases within 1 mi · $5,256–$7,233
Rent − PITIA
Incl. vacancy, PM, maint, capex
What would make this work?
$4,472/mo short at 20% down; 75% down or +$5,807/mo rent closes it.
- Break-even price
- $613,914
- Break-even rent
- $11,900/mo
- Cashflow at 35% down
- −$3,231/mo
- Down payment to break even
- 75%
- Rate to break even
- Not reachable
49% under asking
$5,807/mo above the estimate
$899,250 cash
Negative even at a 0% loan
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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