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Listing 28 out of 1,568
Sold for $1,260,000 Sold

3415-3419 Madison Ave
San Diego, CA 92116

4 units | Multi Family 2-4 - MLS# 180057067
Property Photo
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Sold

Sold for $1,260,000 on Nov 21, 2018

Description

This captivating investment property offers the rare opportunity for an owner occupant or investor to acquire a meticulously remodeled turn key property. The current owner occupant has painstakingly improved this property over the past seven years creating a beautiful home plus income units of the utmost quality. Main house boasts a private outdoor area w/gas BBQ & Fireplace, plus a 350 sq ft bonus room w/Kitchen, Bath & laundry which can be used as an extension of main house., All units completely rehabbed (except 3417 has new bathroom only) in last 7 years including immaculately updated luxury kitchens, baths, tile, counters, cabinetry flooring, HVAC, wiring, plumbing, appliances, water heaters, exterior hardscape, exterior siding finishes and all new dual pane windows. There is a common laundry room easily accessible to all units from main walkway plus a private laundry in the bonus room off the main house. The garage is complete with new drywall, door, flooring and cabinetry. Main house has significant attic storage with a pull down stair.

Features

  • Property Type: Multi Family 2-4
  • Sub Type: Multi Family 2-4
  • Listing Status: Sold
  • Listing Price: $1,345,000
  • County/Area: San Diego County
  • Zip Code: 92116
  • Year Built: 1938
  • Subdivision/Neighborhood: Normal Heights
  • Units: 4 units
  • Zoning: 2+
  • # Units w/Cooling: 3
  • # Units w/Dishwashers: 1
  • # of Buildings: 2
  • # of Units w/Dryers: 1
  • # of Units w/Fireplaces: 1
  • # of Units w/Garage: 1
  • # of Units w/Patios: 1
  • # of Units w/Range/Oven: 4
  • # of Units w/Refrigerator: 4
  • # of Units w/Washers: 1
  • Annual Expense Actual: 11074
  • Annual Expense Projected: 23112
  • Cap Rate Actual: 2.2
  • Cap Rate Projected: 4.7
  • Community: Normal Heights
  • Cooling: Central Forced Air, Wall/Window
  • Fencing: Gate, Partial
  • Gross Rent Multiplier Act: 32
  • Gross Rnt Multiplier Proj: 15.5
  • Gross Sched Income Actual: 41160
  • Gross Sched Income Proj.: 86400
  • Heat Equipment: Forced Air Unit, Wall/Gravity
  • Heat Source: Electric, Natural Gas
  • Listing Area: NORMAL HEIGHTS (92116)
  • Lot Description: Alley Access, Public Street, Sidewalks, Street Paved
  • Lot Size Area: 4, 000-7, 499 SF
  • Lot SqFt: 4283
  • Net Oper.Income Projected: 63289
  • Parking Garage Unit 1: Detached
  • Pets: Yes
  • Roof: Composition
  • Sewer/Septic: Sewer Connected
  • Siding: Stucco
  • Telecommunications: Cable (coaxial)
  • Tenant Pays: Cable TV, Electricity, Gas/Propane
  • Topography: Level
  • Unit # for Unit 1: 3419
  • Unit # for Unit 2: 3417
  • Unit # for Unit 3: 3415
  • Unit # for Unit 4: 3419 1/2
  • Unit 1 # Bedrooms: 2
  • Unit 1 # Total Baths: 1
  • Unit 1 # of Full Baths: 1
  • Unit 1 Estimated SqFt: 1050
  • Unit 1 Exclusive Use Yard: Yes
  • Unit 1 Laundry Hook Ups: Yes
  • Unit 1 Prkng Garage Space: 1
  • Unit 1 Projected Rent: 3000
  • Unit 2 # Bedrooms: 1
  • Unit 2 # Total Baths: 1
  • Unit 2 # of Full Baths: 1
  • Unit 2 Deposit: 500
  • Unit 2 Estimated SqFt: 500
  • Unit 2 Laundry Hook Ups: Common
  • Unit 2 Projected Rent: 1450
  • Unit 2 Rent Actual: 855
  • Unit 3 # Bedrooms: 1
  • Unit 3 # Total Baths: 1
  • Unit 3 # of Full Baths: 1
  • Unit 3 Deposit: 1400
  • Unit 3 Estimated SqFt: 500
  • Unit 3 Laundry Hook Ups: Common
  • Unit 3 Projected Rent: 1450
  • Unit 3 Rent Actual: 1400
  • Unit 4 # Bedrooms: 1
  • Unit 4 # Total Baths: 1
  • Unit 4 # of Full Baths: 1
  • Unit 4 Deposit: 1100
  • Unit 4 Estimated SqFt: 430
  • Unit 4 Laundry Hook Ups: Common
  • Unit 4 Projected Rent: 1300
  • Unit 4 Rent Actual: 1175
  • Water: Meter on Property
  • Water District: City Of San Diego
  • Water Heater Type: Gas
  • Sold Price: 1260000
  • Sold Date: 2018-11-21 00:00:00
Courtesy of Ascent Real Estate, Inc.

 

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