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2635 Magnolia Ave

San Diego, CA 92109
  • $2,490,000
  • STATUS: ACTIVE
  • ON SITE: 29 Days
  • ID#: 250001027
UPDATED: 45 min ago
$2,490,000
  • 8
    BEDS
  • 0.14
    ACRES
  • 5
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

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.

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San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2025 San Diego MLS, Inc. Licensed in the state of California.
www.gellens.com/homes/159404321
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2635 Magnolia Ave San Diego, CA 92109

  • Price: $2,490,000
  • Status: ACTIVE
  • On Site: 29 Days
  • Updated: 45 min ago
  • ID#: 250001027
8
Beds
5
Baths
0
½ Baths
0.14
Acres
Neighborhood:
Pacific Beach (92109)
County:
San Diego
Area:
Pacific Beach (92109)
Property Description
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.
Exterior Features

Carports 0 Construction Stucco Parking Spaces Parking Spaces Total 8 Roof Composition Units With Garages 0

Interior Features

Cooling Wall/Window Floor Coverings Vinyl Heating Wall Laundry Owned Sq Ft Of Improvement 3525 Stories 2 Story Unit Furnished1 No Unit Furnished2 No Unit Furnished3 No Unit Furnished4 No Unit Furnished5 No Units With Dishwashers 5 Units With Disposals 5 Units With Drapes 5 Units With Ranges 5 Units With Refrigerators 5

Property Features

1st Loan Balance 1400000 Actual Cap Rate 4.84 Actual Cash Flow 23167 Actual Cash On Cash 2.13 Actual Gross Operating Income 169796 Actual Gross Scheduled Income 172080.0 Actual Operating Expense 49234 Actual Total Pi Pay 97394 Actual Vacancy And Credit Loss 5162 Assumable Finance 0 Buildings 3 Complex Features BBQ Existing Financing Conventional Financial Information Source Owner Fiscal Year From 23 Fiscal Year To 24 Gross Equity 0 Gross Multiplier 14.47 Have 5 legal units Leased Apartments 5 Mandatory Remarks None Known Market Area Coastal South Monthly Rent Total 14340 Motive Want exchange Other Income Actual 2878 Other Income Amount 2878 Other Income Source rubspet Short Sale No Sq Ft Source Owner Tenant Pays Electric y Tenant Pays Gas y Tenant Pays Water n Unit Number1 1 Unit Number2 1 Unit Number3 1 Unit Number4 1 Unit Number5 1 Unit Rent Total1 2995 Unit Rent Total2 2995 Unit Rent Total3 2050 Unit Rent Total4 3150 Unit Rent Total5 3150 Unit Rent1 2995 Unit Rent2 2995 Unit Rent3 2050 Unit Rent4 3150 Unit Rent5 3150

San Diego MLS logo Listing provided courtesy of Conor Brennan of Marcus & Millichap: 720-841-8139. Listing information © 2025 San Diego MLS Inc. Source: SDMLS
San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2025 San Diego MLS, Inc. Licensed in the state of California.
 
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