5074 Madison Ave, Talmadge/San Diego Central, CA 92115
- $4,099,000
- List Price
- $4,099,000
- Price Change
- ▼ $151,000 1783564840
- Status
- ACTIVE
- MLS#
- 260013949SD
- Lot Size
- 10,890
- Acres
- 0.25
- Days on Market
- 51
- Property Type
- Commercial
- Property Sub Type
- Mixed Use
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.
Additional Information
- Cooling
- Yes
- Attached Structure
- Detached
- Number Of Units Total
- 12
- Gross Scheduled Income
- $310,739
- Operating Expense
- 102537
Listing courtesy of Listing Agent: Erik Anderson (erik.anderson@nmrk.com) from Listing Office: Newmark of Southern California.
Mortgage Calculator
Based on information from California Regional Multiple Listing Service, Inc. as of . 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. 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, 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.