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3280 Olive Street, Lemon Grove, CA 91945
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3280 Olive Street
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  • MLS#: 250033469SD ( Commercial/Residential )
  • Street Address: 3280 Olive Street
  • Viewed: 2
  • Price: $15,995,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: Not Available
  • Bldg sqft: 0
  • Days On Market: 5
  • Additional Information
  • County: SAN DIEGO
  • City: Lemon Grove
  • Zipcode: 91945
  • Provided by: ACI Apartments
  • Contact: Christina Christina
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    Introducing the Olive Tree Apartmentsa pride of ownership, 64 unit multifamily investment offering both immediate income and significant rental upside. Situated on over 2 acres in the heart of Lemon Grove, this well maintained asset boasts a current GSI of ~$93,000/month with a projected 38% rental upside. The spacious unit mix features 1BR/1BA (677 SF) and 2BR/1.5BA (833 SF) floor plans. Select interiors have already been upgraded, including a 1 bedroom unit that recently leased at $1,950 within daysvalidating the market potential. A detailed 5 year value add strategy and rent increase schedule are available upon request. Community amenities include gated entry, off street parking, laundry room, office, grill and a pool & spaenhancing tenant retention and lifestyle appeal. With a Walk Score of 90, the property is steps from grocery stores, schools, public transit, and minutes to Downtown San Diego. Large scale properties with remaining upside are increasingly rare in the San Diego marketthis is a unique opportunity to acquire both stability and growth in a supply constrained region.
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Features
Construction Materials
  1. Frame
Cooling
  1. Wall/Window Unit(s)
Country
  1. US
Heating
  1. Wall Furnace
Netoperatingincome
  1. 605932.00
Otherincome1
  1. 1500.00
Parcel Number
  1. 4801040600
Property Type
  1. Commercial/Residential
Totalmonthlyrent
  1. 93627