2605 Madison Ave — Sale in San Diego, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: San Diego, CA 92116

Photos

2605 Madison Ave — Sale in San Diego, CA, photo 1 of 3
2605 Madison Ave — Sale in San Diego, CA, photo 2 of 3
2605 Madison Ave — Sale in San Diego, CA, photo 3 of 3

Investment Figures

Cap rate
4.15%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present 2605 Madison Ave, located in the North Park neighborhood of San Diego. The subject property features four (4) one-bedroom/one-bathroom, three (3) two bedroom/one-bathroom units, and two (2) two-bedroom/two-bathroom units that total approximately 6,400 of rentable square footage. The subject property is located in North Park, one of the most coveted locations for renters in San Diego. The property boasts a walkability score of 94 which Walkscore.com calls a “Walker's Paradise". It is approximately two miles from Morley Field/Balboa Park which offers tennis courts, public pool, baseball fields, archery range, hiking trails, dog park, disk golf course, playground, and a speed track for bicyclist. Residents at the subject property enjoy immediate walking access to the many bars and restaurants on Adams Avenue, El Cajon Blvd and 30th Street. Lastly, residents enjoy easy access to Interstate 805 and are just minutes away from San Diego’s largest employment centers including Downtown, Mission Valley, and Kearny Mesa. This property presents a unique opportunity for an investor to purchase a value-add investment opportunity in one of the strongest submarkets at the forefront of rental growth in San Diego. The new owner will enjoy the security of having the property situated near comparable apartment complexes, local shopping, and infrastructure, as well as having easy access to Mission Valley, Interstate 805, Interstate 8, and Highway 163. Investment Highlights: • Boasts a desirable unit mix of one and two-bedroom units. • True value-add investment opportunity • Great central location steps away from Adams Ave, walking distance from parks, restaurants, and bars. • Abundant off-street parking for tenants. • Quick access to the 805 interstate and minutes away from major employment centers.

Market Context

This multifamily in San Diego, CA is listed for sale. It is offered at an approximate 4.2% capitalization rate, a key benchmark for income-producing multifamily assets. Compare it against other multifamily listings for sale in San Diego, CA — view the full market.

As of Q4 2025, the San Diego multifamily market showed a 5.4% vacancy rate, average asking rents near $2456.00/unit/mo, and cap rates around 4.6%. Source: multiple brokerage reports, Q4 2025.

Its 4.2% asking cap rate is below the San Diego multifamily market average of about 4.6%, reflecting premium pricing relative to comparable assets. Tight vacancy keeps competition for quality space elevated.

Multifamily market FAQ

What is the typical cap rate for multifamily in San Diego?
About 4.6% as of Q4 2025, per multiple brokerage reports.
Is the San Diego multifamily market tightening or softening?
Vacancy is around 5.4% (Q4 2025).

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