5.01% CAP RATE; THE HIGHEST MULTIFAMILY CAP RATE IN PB. 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.
Data was last updated May 8, 2025 at 09:10 PM (UTC)
Area Statistics
Listings on market:
22
Avg list price:
$4,272,500
Min list price:
$2,100,000
Max list price:
$12,990,000
Avg days on market:
71
Min days on market:
3
Max days on market:
511
Avg price per sq.ft.:
$599.33
These statistics are generated based on the current listing's property type
and located in
Coastal South. Average values are
derived using median calculations.
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