4342 Marlborough Avenue, San Diego, CA, 92105

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$3,295,000
90 Days On Site

4342 Marlborough Avenue
San Diego, CA 92105

For Sale|Residential Income|Active
0
Beds
0
Full Baths
0
Partial Baths
5,850
SqFt
$563
/SqFt
1980
Built
County:
San Diego
Listed by Maxwell Brown of Commercial Asset Advisors [email protected]

Due to the health concerns created by Coronavirus we are offering personal 1-1 online video walkthough tours where possible.

4342 Marlborough Avenue4342 Marlborough Avenue4342 Marlborough Avenue4342 Marlborough Avenue
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4342 Marlborough Ave presents the opportunity to acquire a 9 unit fully renovated multifamily asset situated on the southern border of the highly coveted Kensington neighborhood. The asset consists of an ideal unit mix of (2) Studios, (3) One Bed units, (2) 2 Bed / 1 Bath units, & (2) 2 Bed / 2 Bath units providing for a properly diversified unit make up. Existing ownership has spent over $600k in capital improvements to renovate the property including but not limited to full interior & exterior renovations, landscaping, water lines pulled from slab and re-piped, new roof, installation of backflow, AC units, and the build out of two brand new studio units with in-unit laundry and AC in 2023. The property recently passed CA SB721 deck inspections as well. The property produces an in-place 4.30% cap rate with an additional 10% in rental upside remaining. The property is forecasted at a strong 5.06% cap rate at full market rents. Roughly $1,150,000 of assumable debt is available at a below market 3.90% interest rate on the property fixed until 10/1/2025 and transitioning to floating rate moving forward for a 30-year term maturity in 2053. The assumable debt allows an investor to acquire the property with strong Day 1 cash on cash returns during a less competitive market window while the interest rate market corrects itself over 2025. This will allow for a potential refi in 2025’s likely much more attractive interest rate environment with no pre-pay penalty to do so. The property provides tenants with quick accessibility to the majority of San Diego’s primary entertainment, employment, restaurants, highway access, and activity hotspots. The asset is walking distance to the Heart of Kensington and is less than a 10-minute drive to the Heart of North Park, Normal Heights, Balboa Park and many more activity hotspots. The majority of San Diego’s top water destinations, such as Ocean Beach, Mission Bay, San Diego Bay, and Shelter Island, are all conveniently located within a 15-minute drive.

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Listing Snapshot
Price 
$3,295,000
Days On Site 
90 Days
Bedrooms 
N/A
Inside Area (SqFt) 
5,850 sqft
Total Baths 
N/A
Full Baths 
N/A
Partial Baths 
N/A
Lot Size 
0.1436 Acres
Year Built 
1980
MLS® Number 
PTP2405882
Status 
Active
Property Tax 
N/A
HOA/Condo/Coop Fees 
N/A
Sq Ft Source 
N/A
Friends & Family
Recent Activity
3 weeks agoListing updated with changes from the MLS®
3 months agoListing first seen on site
General Features
Acres 
0.1436
Number Of Stories 
2
Sewer 
Public Sewer
Special Circumstances 
Standard
SqFt Total 
5850
Zoning 
Multifamily
Interior Features
Laundry Features 
Common AreaInside
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Exterior Features
Pool Features 
None
Community Features
Building Access 
Street
Community Features 
Curbs
Financing Terms Available 
Conventional
MLS Area 
92105 - East San Diego


This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. The display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

Neighborhood & Commute
Source: Walkscore
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