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303-321 Olive Street

San Diego, CA 92103
  • $4,050,000
  • STATUS: ACTIVE
  • ON SITE: 128 Days
  • ID#: 230021051
$4,050,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

Introducing Olive Villas, a prestigious offering nestled in the highly desirable Bankers Hill neighborhood of San Diego. This exceptional rental community is a captivating showcase of Spanish architecture. It presents an unparalleled opportunity for real estate investors to acquire a pristine property, unburdened by any outstanding debts. Comprising four separate buildings that collectively encompass 5,500 sq. ft., Olive Villas graces a generous 7,544 sq. ft. corner lot. This charming property features nine one-bedroom, one-bath units, and one studio, all thoughtfully upgraded to meet modern standards. Notably, units 313 and 317 stand as prime examples of the transformation, boasting exquisite details such as fresh white Shaker cabinets, refined Quartz countertops, recessed lighting, cutting-edge stainless steel appliances, dishwashers, built-in microwaves, durable vinyl plank flooring, in-unit washer/dryers, and contemporary interior paint. The property's exterior shines with newly painted wood, rails, and fences, while the roofs were replaced in 2018. Additionally, this property offers four garages, providing the new owner with the potential to convert them into Accessory Dwelling Units (ADUs). With a professional management team in place, residents at Olive Villas enjoy a delightful living experience. They can revel in the charming common area, utilize the convenient laundry facilities, and appreciate the security of a gated entry. Four garages and four off-street parking spaces offer residents added convenience and comfort.

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San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2024 San Diego MLS, Inc. Licensed in the state of California.
www.sellsandiego.com/homes/144691627
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303-321 Olive Street San Diego, CA 92103

  • Price: $4,050,000
  • Status: ACTIVE
  • On Site: 128 Days
  • ID#: 230021051
0
Beds
0
Baths
0
½ Baths
N/A
Acres
Neighborhood:
Mission Hills (92103)
County:
San Diego
Area:
Mission Hills (92103)
Property Description
Introducing Olive Villas, a prestigious offering nestled in the highly desirable Bankers Hill neighborhood of San Diego. This exceptional rental community is a captivating showcase of Spanish architecture. It presents an unparalleled opportunity for real estate investors to acquire a pristine property, unburdened by any outstanding debts. Comprising four separate buildings that collectively encompass 5,500 sq. ft., Olive Villas graces a generous 7,544 sq. ft. corner lot. This charming property features nine one-bedroom, one-bath units, and one studio, all thoughtfully upgraded to meet modern standards. Notably, units 313 and 317 stand as prime examples of the transformation, boasting exquisite details such as fresh white Shaker cabinets, refined Quartz countertops, recessed lighting, cutting-edge stainless steel appliances, dishwashers, built-in microwaves, durable vinyl plank flooring, in-unit washer/dryers, and contemporary interior paint. The property's exterior shines with newly painted wood, rails, and fences, while the roofs were replaced in 2018. Additionally, this property offers four garages, providing the new owner with the potential to convert them into Accessory Dwelling Units (ADUs). With a professional management team in place, residents at Olive Villas enjoy a delightful living experience. They can revel in the charming common area, utilize the convenient laundry facilities, and appreciate the security of a gated entry. Four garages and four off-street parking spaces offer residents added convenience and comfort.
Exterior Features

Construction Stucco Parking Garages Roof CompositionTile Units With Garages 4

Interior Features

Sq Ft Of Improvement 5500 Stories 2 Story

Property Features

Actual Cap Rate 4.21 Actual Gross Operating Income 250930 Actual Gross Scheduled Income 242460.0 Actual Operating Expense 80344 Actual Vacancy And Credit Loss 4849 Assumable Finance 0 Buildings 4 Gross Equity 0 Gross Multiplier 16.32 Have Apts Mandatory Remarks None Known Market Area Metro Uptown Motive Want Exchange Other Income Actual 13320 Projected Cap Rate 6.19 Projected Gross Multiplier 12.38 Projected Gross Operating Inc 330840 Projected Gross Scheduled Inc 324000 Projected Net Income 248965 Projected Operating Expense 86845 Projected Other Income 13320 Projected Vacancy And Credit Loss 6480 Short Sale No Special None Sq Ft Source Buyer to Verify Terms Cash to New Loan Unit Type Apartment

San Diego MLS logo Listing provided courtesy of Bill Anderson of Acre Investment Real Estate: 858-245-4887. Listing information © 2024 San Diego MLS Inc. Source: SDMLS
San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2024 San Diego MLS, Inc. Licensed in the state of California.
 
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