Homes for sale - 4342 Marlborough AVE, San Diego, CA 92105

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Angel Ramirez

angel@ramirezrealtygroup.com +1(619) 818-4318

$ 3,295,000

Est. payment | -/mo

6,255 Sqft Lot

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$ 3,295,000

Est. payment | -/mo

Save Video Tour

6,255 Sqft Lot

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

MLS Listing ID PTP2405882

HOA Y/N No

Year Built 1980

Lot Size 6,255 Sqft

Property Description

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 4.32% 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.

Location

State CA

County San Diego

Area 92105 - East San Diego

Zoning Multifamily

Rooms

Ensuite Laundry Common Area, Inside

Interior

Laundry Location Common Area,Inside

Fireplace No

Laundry Common Area, Inside

Exterior

Pool None

Community Features Curbs

View Y/N No

Private Pool No

Building

Lot Description 36-40 Units/Acre

Story 2

Sewer Public Sewer

Others

Senior Community No

Tax ID 4547332400

Energy Description 140.0

Acceptable Financing Conventional

Listing Terms Conventional

Special Listing Condition Standard

Listed by Maxwell Brown • Commercial Asset Advisors • mbrown@caacre.com

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(619) 818-4318

angel@ramirezrealtygroup.com

310 Third Ave Suite # C-3, Chula Vista, California, 91910, United States

4342 Marlborough AVE San Diego, CA 92105

Angel Ramirez

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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4342 Marlborough AVE