2635-39 Magnolia Ave, Property Listing: MLS® #250024514

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.

2635-39 Magnolia Ave, Property Listing: MLS® #250024514 Close
Page Summary
  • 619-987-4851
  • MLS® #: 250024514
  • 2635-39 Magnolia Ave
  • , CA 92109
  • $2,450,000
  • 8 Beds, 5 Bath, 3525 SqFt, 0.14 Acres
  • Office: Marcus & Millichap

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.

Supplemental Remarks

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Essential Information

  • MLS® #250024514
  • Listing Price$2,450,000
  • List Price per Square Foot$695.04
  • Date ListedApril 15th, 2025
  • Days on Market77
  • Bedrooms8
  • Bathrooms5.00
  • Square Footage3,525
  • Acres0.14
  • Lot Sq.Ft.6,098
  • TypeResidential Income
  • Sub-TypeCom-Res Income
  • StatusActive

Community Information

  • Address2635-39 Magnolia Ave
  • AreaSan Diego (92109)
  • CountySan Diego
  • StateCA
  • Zip Code92109

Amenities

  • Parking Spaces8
  • ParkingSpaces
  • Has PoolYes

Interior

  • HeatingWall
  • CoolingWall/Window
  • FireplaceYes
  • # of Stories2
  • Stories2 Story

Exterior

  • RoofComposition
  • ConstructionFully Landscaped,Part Fenced
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Listing information last updated on July 19th, 2025 at 12:54am PDT.