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Apartment Property Valuation
Real-time valuation using income, cap rates & comparable sales. Free, confidential, no obligation.
$150 Million +
Apartment Transactions
12+ Years
San Diego Experience
2–50
Units — Exclusively Apartments
200
Properties Managed
200 Yrs
Combined Experience
10,000
Units Sold
$3 Billion+
Firm-Wide Sales
Backed by
CORFAC International Member
Free Property Valuation
What's your San Diego apartment building really worth?
Get an accurate, data-backed valuation within 48 hours. Confidential BOV for 2–50 unit properties. Pricing is based on current cap rates, comparable sales, and buyer demand. See the full market report or browse recent transactions in your submarket before requesting a valuation.
No obligation — completely confidential
Income, cap rates, and comparable sales analysis
$150M+ in apartment transactions closed
Get Your Free Property Valuation
No obligation. Data-backed valuation within 48 hours.
How It Works
Get Your Free Valuation in 3 Simple Steps
1
Submit Your Property Details
Fill out the form below with your property address, unit count, and contact info. Takes less than 30 seconds.
2
We Analyze the Market
We run a comprehensive analysis using current income data, comparable sales, cap rate trends, and neighborhood-level rent data.
3
Receive Your Valuation
Within 48 hours you'll receive a confidential, data-backed broker opinion of value (BOV) for your apartment building.
What's Included
Your Valuation Covers
Comparable Sales Data
Recent apartment sales in your neighborhood analyzed by units, price per unit, GRM, and condition.
Income & Cap Rate Analysis
Current and projected income streams evaluated against market cap rates for your specific submarket.
Market Trend Insights
Rent growth projections, vacancy trends, and buyer demand indicators for your submarket.
Why It Matters
Trusted Property Valuation Backed by Market Expertise
County-wide property valuations often lack accuracy, leading to missed opportunities and undervalued deals. Accurate, data-driven property valuations are provided, with a track record of success that ensures the most precise assessment of a property's worth.
Valuing a property requires in-depth market knowledge and expertise. Incorrect valuations can lead to financial loss, delays in transactions, or missed investment opportunities. The aim is to provide the most accurate and reliable valuation to protect your interests. Our valuations factor in current San Diego apartment cap rates, in-place income, and buyer demand. If you're ready to sell your apartment building, this is the first step.
How Are Apartment Buildings Valued in San Diego?
San Diego apartment buildings are valued using three primary methods, and a complete valuation considers all three together:
1
Capitalization Rate (Cap Rate) Method
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The most common approach for apartment buildings. You divide the property's net operating income (NOI) by the current market cap rate for its submarket. For example, a building with $100,000 in NOI in a submarket trading at a 5% cap rate is valued at roughly $2,000,000 ($100,000 ÷ 0.05). Cap rates vary significantly by neighborhood — coastal and urban-core San Diego trade in the high-3% to mid-4% range, while East County and southeastern submarkets trade in the mid-5% to high-6% range.
2
Gross Rent Multiplier (GRM) Method
A simpler measure that divides the sale price by the property's annual gross rental income. San Diego apartment buildings currently trade at GRMs roughly between 10 and 15, depending on submarket and condition. GRM is useful as a quick sanity check, but unlike cap rate, it doesn't account for operating expenses.
3
Price Per Unit
Compares the building to recent sales of similar properties on a per-unit basis. San Diego apartment buildings currently trade anywhere from about $160,000 per unit in value-add inland submarkets to over $500,000 per unit in premium coastal locations. Price per unit is most useful when comparing against recent, nearby, similar-sized sales.
A credible valuation triangulates all three methods against current, verifiable comparable sales — not asking prices, and not last year's numbers. The most common valuation mistake is pricing off aspirational pro-forma income rather than actual in-place income that a buyer's lender will underwrite.
See current cap rates by submarket · view recent apartment sales
When You May Need a Formal Appraisal Instead of a BOV
A broker opinion of value is the right tool for deciding whether and how to sell. But in certain situations — usually tax-related — a formal appraisal by a qualified, certified appraiser is necessary, because a BOV doesn't meet IRS or estate documentation standards.
The most common example is a step-up in basis. When property is inherited, its cost basis generally resets to fair market value as of the date of death — which affects future depreciation and the capital gains owed when the property is eventually sold. To document that value to the IRS, a formal date-of-death appraisal is typically required.
Situations that commonly call for a formal appraisal include:
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Inheriting an apartment building — to establish stepped-up basis as of the date of death
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Death of a spouse — in California, a community-property state, both halves of jointly held property often receive a full step-up, which usually needs to be documented by appraisal
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Property held in a trust — trustees frequently need an appraisal to establish basis at the grantor's death
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Estates large enough to require a federal estate tax return (Form 706) — a qualified appraisal is generally required to substantiate value
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Certain gifting or estate-planning transfers — where value must be documented for tax purposes
In these cases, the appraisal is usually required by your CPA, estate attorney, trustee, or the IRS directly — and it must come from a qualified appraiser, not a broker's BOV. If you're dealing with an inherited apartment building or planning an estate, I can refer you to qualified appraisers and coordinate with your CPA or attorney, and provide a market-based BOV alongside the formal appraisal to help you make the actual sell-or-hold decision.
This is general information, not tax advice. Consult your CPA or estate attorney about your specific situation.
San Diego Apartment Valuation — Common Questions
How do I find out what my San Diego apartment building is worth?
The most accurate way is a broker opinion of value (BOV) based on your building's actual net operating income, current cap rates for your specific submarket, and recent comparable sales. You can request a free, confidential valuation for a 2–50 unit San Diego apartment building from Arby Eivazian at South Coast Commercial, typically delivered within 48 hours.
How is an apartment building valued?
Apartment buildings are valued using three main methods: the cap rate method (net operating income divided by the market cap rate), the gross rent multiplier (sale price divided by annual gross rent), and price per unit (compared against recent similar sales). A complete valuation uses all three together and is based on actual in-place income rather than projected income.
What's the difference between a broker opinion of value (BOV) and an appraisal?
A BOV is a broker's data-backed estimate of market value based on current cap rates, comparable sales, and buyer demand — typically free and delivered quickly. A formal appraisal is a licensed appraiser's certified valuation, usually required by a lender or for tax documentation, which generally starts around $600 and runs higher depending on property size and complexity, and takes longer to complete. For an owner deciding whether to sell, a BOV is usually the right first step.
What's a good cap rate for a San Diego apartment building?
Cap rates vary by submarket. As of 2026, San Diego apartment buildings trade at a countywide average around 4.9%, ranging from the high-3% to mid-4% range in coastal and urban-core neighborhoods to the mid-5% to high-6% range in East County, southeastern, and inland submarkets. A "good" cap rate depends on whether you're buying for yield or appreciation.
How much does a property valuation cost?
A broker opinion of value (BOV) from a multifamily specialist is typically free and confidential. A formal lender or tax appraisal generally starts around $600 and increases with property size and complexity. Arby Eivazian provides free BOVs for San Diego 2–50 unit apartment buildings, usually within 48 hours.
How long does an apartment valuation take?
A broker opinion of value is typically delivered within 48 hours once the property address, unit count, and basic income information are provided. A formal appraisal generally takes one to three weeks depending on the appraiser's schedule and property complexity.
Do I need an appraisal for an inherited apartment building?
Usually yes. When you inherit an apartment building, its cost basis generally steps up to fair market value as of the date of death, and the IRS typically requires a formal date-of-death appraisal from a qualified appraiser to document that value — a broker opinion of value doesn't meet that standard. This matters because the stepped-up basis affects your future depreciation and the capital gains you'll owe if you sell. Your CPA or estate attorney can confirm what's required for your situation.
Related: sell your apartment building · 1031 exchange · full market report