Renovated 12-Unit Multifamily
For Sale
$3,695,000
5074 Madison Ave, San Diego, CA 92115
Fully renovated and 2023-built 12-unit property with in-unit laundry, mini-split HVAC, and quartz counters throughout.
Property Size7,262 SF
Price / SF$508.81
Days on Market141
Property Features for 5074 Madison Ave
General Information
Standard status
Active
Size
7,262 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Talmadge
Highway Access
Yes
Additional Details
Multifamily Units
12
Listing Agency:
Newmark of Southern California
Listed By:
Erik M Anderson erik.anderson@nmrk.com · License #01991182
(858) 875-3614
Source:
Viewsandiegorealestate
Added: Jun 6
Changed: Oct 1
Last Checked: Oct 23 at 7:45AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Newmark of Southern California
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Investment Insights
Based on property information with market context.
The Madison is a fully renovated and new construction 12-unit multifamily asset featuring eight fully renovated 2BR/1BA units in the front building and four 2023 new construction two-story studio loft units at the rear. Interiors are delivered with quartz countertops, designer finishes, stainless appliances, in-unit washer/dryers, dual-pane vinyl windows, and individually controlled mini-split HVAC. The property also has operationally efficient water and sewer billed back to residents (RUBS) and fully upgraded electrical throughout, with major building systems and interior finishes updated to current standards.
Located in Talmadge, the property offers walkability to Kensington Village, the Adams Avenue corridor, and the El Cajon Boulevard transit spine. Access to Mission Valley, Downtown, SDSU, and major job centers is described as quick via I-8, I-15, and SR-94. Walk score is listed as 88 (Very Walkable) and transit score as 49 (Some Transit).
The mix of renovated and new construction units provides two distinct unit styles, studios and 2BR floor plans, within a single 12-unit building.
Located in Talmadge, the property offers walkability to Kensington Village, the Adams Avenue corridor, and the El Cajon Boulevard transit spine. Access to Mission Valley, Downtown, SDSU, and major job centers is described as quick via I-8, I-15, and SR-94. Walk score is listed as 88 (Very Walkable) and transit score as 49 (Some Transit).
The mix of renovated and new construction units provides two distinct unit styles, studios and 2BR floor plans, within a single 12-unit building.
Key Highlights
- Fully renovated 12‑unit multifamily in Talmadge with eight renovated 2BR/1BA units and four 2023‑built two‑story studio loft units
- Renovated and new construction units include quartz countertops, designer finishes, stainless appliances, and in‑unit washer/dryers
- Each unit has dual‑pane vinyl windows and individually controlled mini‑split HVAC
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$120,027
Cap Rate
3.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,400,540
$2.4M
Cap Rate 7%
$1,714,671
$1.7M
Cap Rate 9%
$1,333,633
$1.3M
Market Conditions
NOI Build-Up for 7,262 SF
Gross rent
$230.9K $31.80/SF
− Vacancy
−$12.7K −$1.75/SF
EGI
$218.2K $30.05/SF
− OpEx
−$98.2K −$13.52/SF
NOI
$120.0K $16.53/SF
Area
San Diego, CA
Vacancy
5.50%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,400,540
Cap Rate 7%
$1,714,671
Cap Rate 9%
$1,333,633
Alternative Uses
Best Use
Apartment 5plus
$1.71M
$1.50M – $2.00M
NOI $120,027 @ 7.0% cap · market cap 3.25%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.87M
$2.51M – $3.35M
NOI $200,780 @ 7.0% cap · market cap 5.43%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
12
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,047
Businesses Nearby
Explore this area
Business Placement
Demographics for 92115, CA
64,251
Population
23,448
Households
2.7
Avg Household Size
30
Median Age
39%
College-Educated
87%
High-School Grad
6.2 sq mi
ZIP Area
10,363
Density / Sq Mi
$75,178
Median Household Income
$36,061
Median Earnings
$1,875
Median Rent
$722,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully renovated and 2023-built 12-unit property with in-unit laundry, mini-split HVAC, and quartz counters throughout.
Where is this apartment building located?
The property is located at 5074 Madison Ave San Diego, CA.
What is the asking price?
The asking price for this property is $3,695,000.
What are key features of this property?
This property features: Fully renovated 12‑unit multifamily in Talmadge with eight renovated 2BR/1BA units and four 2023‑built two‑story studio loft units; Renovated and new construction units include quartz countertops, designer finishes, stainless appliances, and in‑unit washer/dryers; Each unit has dual‑pane vinyl windows and individually controlled mini‑split HVAC
