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    3185 Madison Ave

    San Diego, CA 92116
    • $3,299,000
    • STATUS: ACTIVE
    • ON SITE: 108 days
    • ID#: 200046808
    UPDATED: 32 min ago
    $3,299,000
    • 0
      BEDS
    • 0.13
      ACRES
    • 1
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Normal Heights (92116)
    Type:
    Multi-Family
    County:
    San Diego
    Area:
    Normal Heights (92116)

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    Description

    We are proud to present this advantageously located and well cared for investment opportunity at 3185 Madison Avenue in the Normal Heights neighborhood of San Diego. The Subject Property is a two story, single structure apartment building, consisting of 16 studio units totaling 4800 livable SF. Many units have been upgraded and each studio has a true full-size separate kitchen from the main living area, with counter space, a 4-burner range, and full-sized fridge( NO kitchenettes here). Your future tenants here will enjoy the location, relative affordability, and extremely convenient one block walk to Adams Ave which hosts many trendy eateries, bars, shops, and services.... All Tenants paying rent on the 1st. Property is never vacant.

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    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
    www.callstein.com/homes/110503826
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    3185 Madison Ave San Diego, CA 92116

    • Price: $3,299,000
    • Status: ACTIVE
    • Updated: 32 min ago
    • ID#: 200046808
    0
    Beds
    1
    Baths
    0
    ½ Baths
    0.13
    Acres
    Neighborhood:
    Normal Heights (92116)
    County:
    San Diego
    Area:
    Normal Heights (92116)
    Property Description
    We are proud to present this advantageously located and well cared for investment opportunity at 3185 Madison Avenue in the Normal Heights neighborhood of San Diego. The Subject Property is a two story, single structure apartment building, consisting of 16 studio units totaling 4800 livable SF. Many units have been upgraded and each studio has a true full-size separate kitchen from the main living area, with counter space, a 4-burner range, and full-sized fridge( NO kitchenettes here). Your future tenants here will enjoy the location, relative affordability, and extremely convenient one block walk to Adams Ave which hosts many trendy eateries, bars, shops, and services.... All Tenants paying rent on the 1st. Property is never vacant.
    Exterior Features

    Construction DrywallFrame

    Interior Features

    Sq Ft Of Improvement 4800 Unit Furnished1 0 Units With Ranges 16 Units With Refrigerators 16

    Property Features

    Actual Cap Rate 4.2 Actual Gross Scheduled Income 227040.0 Actual Operating Expense 71947 Assumable Finance 0 Buildings 1 Gross Equity 2250000 Gross Multiplier 15.1 Have 16-One Block From Adams Mandatory Remarks None Known Market Area Metro Uptown Monthly Rent Total 18800 Motive Want Cash/Exchange Other Income Amount 120 Other Income Source Laundry Projected Cap Rate 6.1 Projected Cash On Cash 5.5 Projected Gross Multiplier 11.8 Short Sale No Unit Number1 15 Unit Rent Total1 18920 Unit Rent1 1175

    Listing provided courtesy of South Coast Commercial, Inc.. Listing information © 2021 San Diego MLS Inc. Source: SDMLS
    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
     
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