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$4,250,000
Est. payment /mo
16 Beds
12 Baths
7,262 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Com-Res Income
Listing Status Active
Purchase Type For Sale
Square Footage 7,262 sqft
Price per Sqft $585
MLS Listing ID 260013949
Bedrooms 16
Full Baths 12
Property Sub-Type Com-Res Income
Property Type Com-Res Income
Property Description
The Madison is a fully renovated/new construction 12-unit multifamily asset in the heart of Talmadge, one of central San Diego's most established character neighborhoods. The property features eight fully renovated 2BR/1BA units in the front building and four 2023 new construction two-story studio loft units at the rear, all delivered with quartz countertops, designer finishes, stainless appliances, in-unit washer/dryers, dual-pane vinyl windows, and individually controlled mini-split HVAC. Operationally efficient with water and sewer billed back to residents (RUBS) and fully upgraded electrical throughout. Major building systems and interior finishes are current, eliminating deferred maintenance and renovation execution risk. The combination of renovated and new construction product diversifies the tenant base across studio and 2BR floor plans while unlocking a layered depreciation strategy across two distinct cost bases. Walkable to Kensington Village, the Adams Avenue corridor, and the El Cajon Boulevard transit spine, with quick access to Mission Valley, Downtown, SDSU, and major job centers via I-8, I-15, and SR-94. Talmadge has historically delivered sticky tenancy, below-average turnover, and consistent rent growth, with comparable in-place rents to Kensington and North Park at a discount per door.
Location
State CA
County San Diego
Community Other/Remarks
Area Metro Uptown
Interior
Fireplace No
Exterior
View Y/N No
Building
Story 2
Others
Senior Community No
Tax ID 466-251-19
Virtual Tour https://www.propertypanorama.com/instaview/snd/260013949
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Listed by Erik M Anderson, DRE#01991182 Newmark of Southern California
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Glen Henderson
Broker Associate | CA BRE #01384181
Broker Associate CA BRE #01384181
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