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3735-41 Madison Avenue

San Diego, CA 92116
  • $1,725,000
  • STATUS: ACTIVE
  • ON SITE: 32 Days
  • ID#: 240026431
Open House
UPDATED: 66 min ago
$1,725,000
  • 5
    BEDS
  • 0.17
    ACRES
  • 4
    BATHS
  • 0
    1/2 BATHS
  • 2,925
    SQFT
  • $590
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1947
County:

School Ratings & Info

Description

Welcome to this adorable 4-unit property, perfectly positioned on a desirable corner lot in Normal Heights. This unique offering features a delightful mix of units: a free-standing 2-bedroom, 1-bath home, alongside a duplex with two 1-bedroom, 1-bath units, and an additional free-standing 1-bedroom, 1-bath residence. Each unit includes dedicated parking, with three detached garages and one attached garage for added convenience, in addition to ample street parking. These well-maintained units showcase beautiful hardwood floors and inviting built-ins that exude charm. Enjoy the ease of low-maintenance landscaping, along with newly installed sidewalks, gutters, windows, garage doors, fence and downspouts. With durable composition shingle roofs, this property is both stylish and practical. Ideal for first-time investors or those looking to occupy a unit with VA/FHA financing, this is an opportunity not to be missed. Experience the vibrant lifestyle Normal Heights has to offer! All tenants pay their own electricty. Two units (4548 & 3741) are separately metered so they pay their own water and sewer however the duplex (3739 & 3735) is not separately metered and is paid by the owner. Property is zoned Multi Family Dwellings 2+

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San Diego MLS logo 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 © 2024 San Diego MLS, Inc. Licensed in the state of California.
www.sellsandiego.com/homes/157689941
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3735-41 Madison Avenue San Diego, CA 92116

  • Price: $1,725,000
  • Status: ACTIVE
  • On Site: 32 Days
  • Updated: 66 min ago
  • ID#: 240026431
5
Beds
4
Baths
0
½ Baths
0.17
Acres
2,925
SQFT
$590
$/SQFT
1947
Built
Neighborhood:
Normal Heights
County:
San Diego
Area:
Normal Heights (92116)
Property Description
Welcome to this adorable 4-unit property, perfectly positioned on a desirable corner lot in Normal Heights. This unique offering features a delightful mix of units: a free-standing 2-bedroom, 1-bath home, alongside a duplex with two 1-bedroom, 1-bath units, and an additional free-standing 1-bedroom, 1-bath residence. Each unit includes dedicated parking, with three detached garages and one attached garage for added convenience, in addition to ample street parking. These well-maintained units showcase beautiful hardwood floors and inviting built-ins that exude charm. Enjoy the ease of low-maintenance landscaping, along with newly installed sidewalks, gutters, windows, garage doors, fence and downspouts. With durable composition shingle roofs, this property is both stylish and practical. Ideal for first-time investors or those looking to occupy a unit with VA/FHA financing, this is an opportunity not to be missed. Experience the vibrant lifestyle Normal Heights has to offer! All tenants pay their own electricty. Two units (4548 & 3741) are separately metered so they pay their own water and sewer however the duplex (3739 & 3735) is not separately metered and is paid by the owner. Property is zoned Multi Family Dwellings 2+
Exterior Features

Exterior Stucco Fencing GatePartial Irrigation Other/Remarks Parking Garage Desc Unit1 Detached Parking Garage Desc Unit2 Detached Parking Garage Desc Unit3 Detached Parking Garage Desc Unit4 Detached Parking Garage Spaces Unit1 1 Parking Garage Spaces Unit2 1 Parking Garage Spaces Unit3 1 Parking Garage Spaces Unit4 1 Roof Composition Site Alley AccessCorner LotCurbsPublic StreetSidewalksStreet Paved Topography Level Unit1 Exclusive Use Yard No Unit2 Exclusive Use Yard No Unit3 Exclusive Use Yard No Unit4 Exclusive Use Yard No Units With Garages 4 Units With Patios 0

Interior Features

Cooling N/K Furnished Units 0 Half Baths Unit1 0 Half Baths Unit2 0 Half Baths Unit3 0 Half Baths Unit4 0 Heat Equipment Wall/Gravity Heat Source Natural Gas Stories 1 Story Total Baths Unit1 1 Total Baths Unit2 1 Total Baths Unit3 1 Total Baths Unit4 1 Unit1 Laundry Hook Ups No Unit2 Laundry Hook Ups No Unit3 Laundry Hook Ups No Unit4 Laundry Hook Ups Yes Units With Cooling 0 Units With Dishwashers 0 Units With Dryers 0 Units With Fireplaces 0 Units With Range Oven 4 Units With Refrigerators 0 Units With Washers 0 Water Heater Type Gas

Property Features

Actual Cap Rate 4.76 Age Restrictions N/K Annual Expense Actual 16107 Annual Expense Projected 21315 Association ID San Diego Association of REALTORS (SDAR) Buildings 4 Cfd Mello Roos Fee 0.0 Community NORMAL HEIGHTS Complex Park n/a Cross Streets 38th Street Gross Rent Multiplier Actual 18.74 Gross Rent Multiplier Project 14.16 Gross Scheduled Income Actual 92040 Gross Scheduled Income Project 121800 Jurisdiction Incorporated Mandatory Remarks None Known Market Area Metro Uptown Monthly Total Fees 0 Net Operating Income Projected 100485 Other Fees 0.0 Other Income Actual 0 Pets Yes Possession Close of Escrow Projected Cap Rate 6.49 Sales Restrictions N/K Security N/K Sewer Septic Sewer Connected Short Sale No Tenant Pays SewerWaterElectricity Terms CashConventionalFHAVA Unit Number For Unit1 3735 Unit Number For Unit2 3739 Unit Number For Unit3 3741 Unit Number4 4548 Unit1 Deposit 2600 Unit1 Occupied Tenant Unit1 Projected Rent 2250.0 Unit1 Rent Actual 1300.0 Unit2 Deposit 1695 Unit2 Occupied Tenant Unit2 Projected Rent 2250.0 Unit2 Rent Actual 1750.0 Unit3 Deposit 2095 Unit3 Occupied Tenant Unit3 Projected Rent 2250 Unit3 Rent Actual 1920.0 Unit4 Deposit 2850 Unit4 Occupied Tenant Unit4 Projected Rent 3400 Unit4 Rent Actual 2700.0 Water Meter on Property Water District CITY OF SAN DIEGO Zoning R-3:RESTRI

San Diego MLS logo Listing provided courtesy of Gregg Neuman of Berkshire Hathaway HomeServices California Properties: 619-595-7025. Listing information © 2024 San Diego MLS Inc. Source: SDMLS
San Diego MLS logo 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 © 2024 San Diego MLS, Inc. Licensed in the state of California.
 
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