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3205-3211 Madison Ave 8 Unit Apartment Building $2,700,000 ($337,500/Unit) 4.20% Cap Rate San Diego, CA 92116
INVESTMENT HIGHLIGHTS
- Convenient access to the 805, 8, and 15 freeways,
- Upward potential in rent and opportunity for increased cash flow through RUBS.
- 8 off-street parking spaces
EXECUTIVE SUMMARY
Exceptional 8-unit multifamily opportunity in the heart of Normal Heights — one of San Diego’s most walkable and vibrant neighborhoods. This well-maintained property features eight 1-bedroom, 1-bath units, each offering comfortable layouts and consistent tenant demand. Residents enjoy convenient access to the 805, 8, and 15 freeways, along with a dynamic mix of nearby cafes, restaurants, and entertainment options.
The property is fully landscaped and includes 8 off-street parking spaces — a rare and valuable amenity in this high-density area. With stable occupancy and significant upside in rental income, investors have a clear path to increased cash flow through strategic rent adjustments and the implementation of RUBS (Ratio Utility Billing System) for utilities such as water and trash. This is a strong value-add opportunity in a core San Diego submarket, ideal for investors seeking long-term growth and operational efficiency.
The property is fully landscaped and includes 8 off-street parking spaces — a rare and valuable amenity in this high-density area. With stable occupancy and significant upside in rental income, investors have a clear path to increased cash flow through strategic rent adjustments and the implementation of RUBS (Ratio Utility Billing System) for utilities such as water and trash. This is a strong value-add opportunity in a core San Diego submarket, ideal for investors seeking long-term growth and operational efficiency.
DATA ROOM Click Here to Access
- Operating and Financials
- Title and Insurance
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$163,620
|
$22.84
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$6,544
|
$0.91
|
| Effective Gross Income |
$157,076
|
$21.93
|
| Taxes |
-
|
-
|
| Operating Expenses |
$40,450
|
$5.65
|
| Total Expenses |
$40,450
|
$5.65
|
| Net Operating Income |
$116,626
|
$16.28
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $163,620 |
| Annual Per SF | $22.84 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $6,544 |
| Annual Per SF | $0.91 |
| Effective Gross Income | |
|---|---|
| Annual | $157,076 |
| Annual Per SF | $21.93 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | $40,450 |
| Annual Per SF | $5.65 |
| Total Expenses | |
|---|---|
| Annual | $40,450 |
| Annual Per SF | $5.65 |
| Net Operating Income | |
|---|---|
| Annual | $116,626 |
| Annual Per SF | $16.28 |
PROPERTY FACTS
| Price | $2,700,000 | Apartment Style | Garden |
| Price Per Unit | $337,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 4.20% | Building Size | 7,164 SF |
| Gross Rent Multiplier | 16.5 | Average Occupancy | 96% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1943 |
| Property Subtype | Apartment | Parking Ratio | 1.12/1,000 SF |
| Zoning | R3 - https://sandiego.maps.arcgis.com/apps/instant/sidebar/index.html?appid=75f6a5d68aee481f8ff48240bcaa1239 | ||
| Price | $2,700,000 |
| Price Per Unit | $337,500 |
| Sale Type | Investment |
| Cap Rate | 4.20% |
| Gross Rent Multiplier | 16.5 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 7,164 SF |
| Average Occupancy | 96% |
| No. Stories | 2 |
| Year Built | 1943 |
| Parking Ratio | 1.12/1,000 SF |
| Zoning | R3 - https://sandiego.maps.arcgis.com/apps/instant/sidebar/index.html?appid=75f6a5d68aee481f8ff48240bcaa1239 |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Heating
- Kitchen
- Hardwood Floors
- Refrigerator
- Smoke Free
SITE AMENITIES
- Gas Range
- Smoke Free
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | $1,765 | 662 |
1 1
Walk Score®
Walker's Paradise (92)
PROPERTY TAXES
| Parcel Number | 447-511-01 | Total Assessment | $492,563 (2025) |
| Land Assessment | $240,185 (2025) | Annual Taxes | $0 ($0.00/SF) |
| Improvements Assessment | $252,378 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
447-511-01
Land Assessment
$240,185 (2025)
Improvements Assessment
$252,378 (2025)
Total Assessment
$492,563 (2025)
Annual Taxes
$0 ($0.00/SF)
Tax Year
2024
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ENG & Willin Properties
3205-3211 Madison Ave
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