3735-41 Madison Ave
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3735-41 Madison Ave
4 Unit Apartment Building $1,725,000 ($431,250/Unit) 4.76% Cap Rate San Diego, CA 92116
Investment Highlights
- Corner lot, 4-units, drought tolerant landscaping, walking distance to restaurants/shopping
Executive Summary
Welcome to this adorable 4-unit property, perfectly positioned on a desirable corner lot in Normal Heights. This unique offering features adelightful 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 addedconvenience, in addition to ample street parking. These well-maintained units showcase beautiful hardwood floors and inviting built-ins thatexude charm. Enjoy the ease of low-maintenance landscaping, along with newly installed sidewalks, gutters, windows, garage doors, fence anddownspouts. With durable composition shingle roofs, this property is both stylish and practical. Ideal for first-time investors or those looking tooccupy a unit with VA/FHA financing, this is an opportunity not to be missed. Experience the vibrant lifestyle Normal Heights has to offer! Alltenants 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+
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$92,040
|
$16.96
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$92,040
|
$16.96
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$16,040
|
$2.96
|
| Net Operating Income |
$76,000
|
$14.01
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $92,040 |
| Annual Per SF | $16.96 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $92,040 |
| Annual Per SF | $16.96 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $16,040 |
| Annual Per SF | $2.96 |
| Net Operating Income | |
|---|---|
| Annual | $76,000 |
| Annual Per SF | $14.01 |
Property Facts
| Price | $1,725,000 | Apartment Style | Single Family Home |
| Price Per Unit | $431,250 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 4.76% | Building Size | 5,426 SF |
| Sale Conditions | 1031 Exchange | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1950 |
| Property Subtype | Apartment | Parking Ratio | 1.65/1,000 SF |
| Price | $1,725,000 |
| Price Per Unit | $431,250 |
| Sale Type | Investment |
| Cap Rate | 4.76% |
| Sale Conditions | 1031 Exchange |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single Family Home |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 5,426 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1950 |
| Parking Ratio | 1.65/1,000 SF |
Unit Amenities
- Ceiling Fans
- Hardwood Floors
- Yard
Site Amenities
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | $1,725 | 675 |
| 2+1 | 1 | $2,950 | 900 |
Walk Score ®
Very Walkable (86)
Bike Score ®
Very Bikeable (71)
zoning
| Zoning Code | R-2 (Multi Family Dwellings Generic Any Combination 2+) |
| R-2 (Multi Family Dwellings Generic Any Combination 2+) |
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3735-41 Madison Ave
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