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    3185 Madison Ave

    San Diego, CA 92116
    • $3,295,000
    • STATUS: ACTIVE
    • ON SITE: 123 days
    • ID#: 200010679
    UPDATED: 57 min ago
    $3,295,000
    • 0
      BEDS
    • 0.13
      ACRES
    • 1
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    County:

    School Ratings & Info

    Description

    Prime Opportunity for your 1031 Exchange clients who desire a safe investment in these uncertain times. Hedge your clients risk by securing the most sustainable and affordable rental units currently available in Normal Heights, Walking distance to Adams Ave. --------------------------------------------------------------------------------------------We are proud to present this advantageously located and well cared for investment opportunity located 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 for tenants to enjoy. Your tenants here will enjoy the relative affordability and extremely convenient one block walk to Adams Ave which hosts many trendy eateries, bars, shops, and services....

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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 © 2020 San Diego MLS, Inc. Licensed in the state of California.
    www.sellsandiego.com/homes/103807509
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    3185 Madison Ave San Diego, CA 92116

    • Price: $3,295,000
    • Status: ACTIVE
    • Updated: 57 min ago
    • ID#: 200010679
    0
    Beds
    1
    Baths
    0
    ½ Baths
    0.13
    Acres
    Neighborhood:
    Normal Heights (92116)
    County:
    San Diego
    Area:
    Normal Heights (92116)
    Property Description
    Prime Opportunity for your 1031 Exchange clients who desire a safe investment in these uncertain times. Hedge your clients risk by securing the most sustainable and affordable rental units currently available in Normal Heights, Walking distance to Adams Ave. --------------------------------------------------------------------------------------------We are proud to present this advantageously located and well cared for investment opportunity located 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 for tenants to enjoy. Your tenants here will enjoy the relative affordability and extremely convenient one block walk to Adams Ave which hosts many trendy eateries, bars, shops, and services....
    Exterior Features

    Construction Other/Remarks Parking Spaces Parking Spaces Total 14 Roof Composition

    Interior Features

    Floor Coverings HardwoodOther/RemarksVinyl Heating Wall Laundry Owned Sq Ft Of Improvement 4800 Stories 2 Story Unit Furnished1 0 Units With Ranges 16 Units With Refrigerators 16

    Property Features

    Actual Cap Rate 4.2 Actual Gross Scheduled Income 218976.0 Actual Operating Expense 78276 Assumable Finance 0 Buildings 1 Existing Financing Conventional Gross Equity 2128000 Gross Multiplier 15 Have 16 Units Mandatory Remarks None Known Market Area Metro Uptown Monthly Rent Total 18248 Motive Want Exchange Projected Cap Rate 5.5 Projected Cash On Cash 5.6 Projected Gross Multiplier 12 Projected Gross Scheduled Inc 267720 Short Sale No Sq Ft Source Tax Record Unit Number1 16 Unit Rent Total1 18240 Unit Rent1 1133 Zoning Rs 1-7

    Listing provided courtesy of South Coast Commercial, Inc.. Listing information © 2020 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 © 2020 San Diego MLS, Inc. Licensed in the state of California.
     
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    Neuman & Neuman Real Estate Inc.
    516 5th Avenue
    San Diego CA, 92101