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$2,450,000
Est. payment /mo
8 Beds
5 Baths
3,525 SqFt
UPDATED:
Key Details
Property Type Single Family Home, Condo
Sub Type Com-Res Income
Listing Status Active
Purchase Type For Sale
Square Footage 3,525 sqft
Price per Sqft $695
MLS Listing ID 250024514
Bedrooms 8
Property Sub-Type Com-Res Income
Property Description
5.01% CAP RATE; THE HIGHEST MULTIFAMILY CAP RATE IN PB. We are pleased to present 2635-39 Magnolia Avenue, a fully renovated 5-unit complex in the highly popular Pacific Beach neighborhood of San Diego, CA. Resting near the end of a quiet col-de-sac, Magnolia features a desirable mix of four 2-bedroom /1-bath units and a single studio unit (affordable; 110% AMI). Of the four 2-bedrooms which range from 733 square feet to 750 square feet, one is a 2-story townhome. The studio is approximately 350 square feet. Units include their own in-unit washer/dryers, new vinyl plank flooring, wall-heaters, stainless steel appliances, new ceiling fans, refurbished and new cabinetry along with new kitchens and bathrooms. The complex was built in 1960 and totally restored with additional ADUs added in 2023-2024. The lot is approximately 6,185 square feet zoned RM-3-8 (1du per 800sf) with 3,525 square feet of improvements and four tandem parking spaces.
Location
State CA
County San Diego
Area Coastal South
Interior
Heating Wall
Cooling Wall/Window
Flooring Vinyl
Fireplace No
Exterior
Parking Features Spaces
View Y/N No
Roof Type Composition
Building
Story 2
Others
Tax ID 424-111-05-00
Virtual Tour https://www.propertypanorama.com/instaview/snd/250024514
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Listed by Conor M Brennan Marcus & Millichap