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3710 Madison Avenue, San Diego, CA 92116

Commercial property

3710 Madison Avenue, San Diego, CA 92116 Sold October 2024 CRMLS
$2,244,250Sold October 2024

Listing Agent: Benn Vogelsang (DRE #01883437) · Listing Office: NorthMarq Multifamily · Contact: 858-675-7865 · Bought with: Benn Vogelsang · NorthMarq Multifamily · MLS #240014829SD · Source: CRMLS

8
Units
5.00%
Cap Rate
$132,538
NOI
6,947 sqft
Lot Size
Commercial property
Type

About this commercial property

POSSIBLE SELLER FINANCING. Excited to present 3710 Madison Ave, a fantastic value-add investment that offers an investor 70% upside in rents in the rapidly accelerating rental market of Normal Heights. The 6,660 square foot structure built in 1959 is situated on a 6,947 square foot lot just over a block from Adams Avenue. The property features eight 2 Bedroom / 1 Bath units, each averaging over 800 square feet. Half of the units have been recently renovated with new flooring and kitchens. In addition, the property offers a common laundry space with leased washer/dryer and 10 surface parking spaces. Please do not walk on the property or disturb tenants.

Listing description from the October 2024 sale, as reported to CRMLS.

Sale history

$2,244,250
Sold October 2024 · listed $2,650,000, orig. $2,900,000, on market June 2024 · MLS #240014829SD · Source: CRMLS
Listing Agent: Benn Vogelsang · Listing Office: NorthMarq Multifamily · Contact: 858-675-7865 · Bought with: Benn Vogelsang · NorthMarq Multifamily
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