Presented by Terry Moore
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3292 Madison St | Carlsbad, CA 92008

$1,825,000 180052582 Sold

Property Details

  • $1,950,000
  • Commercial Residential Income
  • 180052582
  • 0.00 Acres
  • 106
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  • Virtual Tour N/A
  • 6

Property Description

We are pleased present the Madison Street apartment homes. Originally built circa 1979, & contains six (6) 1bed+1bath units averaging roughly 630 sqft each, for an estimated combined total of 3,778 rentable sqft. Situated on a corner parcel totaling approximately 6,914 sqft of land zoned R3. There is currently at least 9 surface parking spaces. There are also 5 garages currently used as storage. Owned long-term by current ownership since 1996, the property has been well maintained, and several of the units have been more recently renovated. Current rents are substantially below market, and thus the Property represents an excellent value-add opportunity for astute investors to fix up the units and increase cash flow. There is roughly 50% upside in the rents, and the possibility to add additional storage income, for a total income upside of 61%. Copy the link below to view our drone video.

Detailed Home Information

  • # of Total Bedrooms: 1
  • # of Total Baths: 1.00
  • Acres: 0.00
  • # of Parking Spaces: 9
  • Style: Commercial Residential Income
  • Listing Broker: Top Gun CRE, Inc.
  • Listing Agent: Michael Mignosa