4342 Marlborough Avenue, San Diego, CA 92105 (MLS # PTP2405882)

Price	$3,295,000
Status	Active
Beds	5
Baths	5 Baths
Home size	n/a
Lot Size	6,256 sqft
Days on Market	88

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 4.30% 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 2025s 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 Diegos primary entertainment, emplo

Property Type(s): Multi Family

Last Updated	10/12/2024	Tract	Kensington
Year Built	0	County	San Diego

Additional Details

LOT	6255 sq ft
LOT DIMENSIONS	4,000-7,499 SF
STORIES	2
SUBDIVISION	Kensington

Listed with Commercial Asset Advisors

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