The Madera Street Duplex | 1532-36 Madera St
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The Madera Street Duplex 1532-36 Madera St
2 Unit Apartment Building $925,000 ($462,500/Unit) 4% Cap Rate Lemon Grove, CA 91945
Investment Highlights
- RENOVATED: 2024, updated bathroom, kitchen, new fixtures
- SPACIOUS LOT: 11,435 SqFt, with large gated backyards with covered patios
- LARGE DUPLEX: Two 750 SF 2-bedroom, 1-Bathroom Units. Heat and AC
Executive Summary
Cushman & Wakefield is delighted to present the Madera Street Duplex, a fully modernized property in the desirable Lemon Grove area of San Diego. This rare, fee-simple asset is ready for acquisition, free of debt encumbrances, and sits in one of the region’s strongest rental markets. Originally built in 1970 and extensively renovated in 2024, the property consists of two 750-square-foot, 2-bedroom, 1-bathroom units, each designed with tenant comfort and style in mind.
Positioned on a spacious 11,435-square-foot lot, the Madera Street Duplex boasts both practicality and appeal, offering four off-street parking spaces, two private garages with laundry hook-ups, and expansive, gated backyards with covered patios for outdoor enjoyment. Inside, each residence features a contemporary kitchen, a fully updated bathroom, new fixtures, modern appliances, ceiling fans, wall heaters, and air conditioning. The property is separately metered for gas and electricity, keeping operating expenses manageable for the owner
Positioned on a spacious 11,435-square-foot lot, the Madera Street Duplex boasts both practicality and appeal, offering four off-street parking spaces, two private garages with laundry hook-ups, and expansive, gated backyards with covered patios for outdoor enjoyment. Inside, each residence features a contemporary kitchen, a fully updated bathroom, new fixtures, modern appliances, ceiling fans, wall heaters, and air conditioning. The property is separately metered for gas and electricity, keeping operating expenses manageable for the owner
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $925,000 | Property Subtype | Apartment |
| Price Per Unit | $462,500 | Apartment Style | Garden |
| Sale Type | Investment | Lot Size | 0.26 AC |
| Cap Rate | 4% | Building Size | 1,500 SF |
| Gross Rent Multiplier | 14.82 | Average Occupancy | 0% |
| No. Units | 2 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1970/2024 |
| Price | $925,000 |
| Price Per Unit | $462,500 |
| Sale Type | Investment |
| Cap Rate | 4% |
| Gross Rent Multiplier | 14.82 |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Lot Size | 0.26 AC |
| Building Size | 1,500 SF |
| Average Occupancy | 0% |
| No. Stories | 1 |
| Year Built/Renovated | 1970/2024 |
Unit Amenities
- Air Conditioning
- Washer/Dryer Hookup
- Ceiling Fans
Site Amenities
- Fenced Lot
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | $2,600 | 750 |
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zoning
| Zoning Code | R-2: Minor Multiple |
| R-2: Minor Multiple |
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The Madera Street Duplex | 1532-36 Madera St
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