5.01% CAP RATE; THE HIGHEST MULTIFAMILY CAP RATE IN PB. We are pleased to present 2635-39 Magnolia Avenue, a fully renovated 5-unit complex in the highly popular Pacific Beach neighborhood of San Diego, CA. Resting near the end of a quiet col-de-sac, Magnolia features a desirable mix of four 2-bedroom /1-bath units and a single studio unit (affordable; 110% AMI). Of the four 2-bedrooms which range from 733 square feet to 750 square feet, one is a 2-story townhome. The studio is approximately 350 square feet. Units include their own in-unit washer/dryers, new vinyl plank flooring, wall-heaters, stainless steel appliances, new ceiling fans, refurbished and new cabinetry along with new kitchens and bathrooms. The complex was built in 1960 and totally restored with additional ADUs added in 2023-2024. The lot is approximately 6,185 square feet zoned RM-3-8 (1du per 800sf) with 3,525 square feet of improvements and four tandem parking spaces.
- Heating System:
- Wall
- Cooling System:
- Wall/Window
- Parking:
- Spaces
- Flooring:
- Vinyl
- Country:
- US
- State:
- CA
- County:
- SD
- City:
- San Diego
- Zipcode:
- 92109
- Street:
- Magnolia Ave
- Street Number:
- 2635-39
- Longitude:
- W118° 46' 41.4''
- Latitude:
- N32° 48' 13.3''
- Mls Area Major:
- Coastal South
- Office Name:
- Marcus & Millichap
- Agent Name:
- Conor M Brennan
- Building Size:
- 3525
- Construction Materials:
- Part Fenced, Fully Landscaped
- Levels:
- 2 Story
- Number Of Units Total:
- 5
- Stories:
- 2
- Virtual Tour:
- https://www.propertypanorama.com/instaview/snd/250024514
- List Agent Mls Id:
- 680533
- List Office Mls Id:
- 62951
- Mls Status:
- ACTIVE
- Modification Timestamp:
- 2025-08-21T20:59:54Z
- Originating System Name:
- SDMLS
- Special Listing Conditions:
- N/K
Residential Income
2635-39 Magnolia Ave, San Diego, Ca 92109
- Property Type :
- Residential Income
- Listing Type :
- For Sale
- Listing ID :
- 250024514
- Price :
- $2,390,000
- Bedrooms :
- 8
- Bathrooms :
- 5
- Square Footage :
- 3,525
- Status :
- Active
- Property Sub Type :
- Com-Res Income
- Roof:
- Composition
