2605 Madison Ave - Apartments FOR SALE


San Diego, CA 92116
$3,595,000 USD
858-761-2529
2605 Madison Ave, San Diego, CA for Sale
$3,595,000 USD
Apartments - FOR SALE
1/11
null | 3.77% Cap Rate

2605 Madison Ave
San Diego, CA 92116


HIGHLIGHTS

  • Boasts a desirable unit mix of one- and two-bedroom units
  • True value-add investment opportunity
  • Abundant off-street parking for tenants
  • Great central location steps away from Adams Ave, walking distance from parks, restaurants, and bars
  • Quick access to the 805 interstate and minutes away from major employment centers

OVERVIEW

We are pleased to present 2605 Madison Ave, located in the North Park neighborhood of San Diego. The subject property features four (4) one-bedroom/one-bathroom, three (3) two-bedroom/one-bathroom units, and two (2) two-bedroom/twobathroom units that total approximately 6,400 of rentable square footage. The subject property is located in North Park, one of the most coveted locations for renters in San Diego. The property boasts a walkability score of 94 which walkscore.com calls “a walkers paradise.” It is approximately two miles from Morley Field/Balboa Park which offers tennis courts, public pool, baseball fields, archery range, hiking trails, dog park, disk golf course, playground, and a speed track for bicyclist. Residents at the subject property enjoy immediate walking access to the many bars and restaurants on Adams Avenue, El Cajon Blvd and 30th Street. Lastly, residents enjoy easy access to Interstate 805 and are just minutes away from San Diego’s largest employment centers including Downtown, Mission Valley, and Kearny Mesa. This property presents a unique opportunity for an investor to purchase a value-add investment opportunity in one of the strongest submarkets at the forefront of rental growth in San Diego. The new owner will enjoy the security of having the property situated near comparable apartment complexes, local shopping, and infrastructure, as well as having easy access to Mission Valley, Interstate 805, Interstate 8, and Highway 163.

FOR SALE DETAILS

PRICE

$3,595,000 USD

PRICE/SF

$552 USD /SF

# OF UNITS

9

PRICE/UNIT

$399,444

CAP RATE

3.77%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1969

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

-

APN/PARCEL ID

445-171-01

ASK ABOUT THIS PROPERTY

Austin Ray HuffmanMarcus & MillichapMore Info
858-761-2529

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Austin Ray HuffmanMarcus & MillichapMore Info
858-761-2529

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.