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$2,450,000
Est. payment /mo
6,185 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 250024514
Lot Size 6,185 Sqft
Acres 0.14
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 Pacific Beach (92109)
Interior
Heating Wall
Cooling Wall/Window
Flooring Vinyl
Exterior
Exterior Feature Fully Landscaped, Part Fenced
Parking Features Spaces
Roof Type Composition
Total Parking Spaces 8
Building
Story 2
Lot Size Range .25 Acres or less
Others
Space Rent $173,940
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Listed by Conor M Brennan • Marcus & Millichap