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    3917 Spring Place

    Spring Valley, CA 91977
    • $2,500,000
    • STATUS: ACTIVE
    • ON SITE: 154 days
    • ID#: 210009986
    UPDATED: 14 min ago
    $2,500,000
    • 22
      BEDS
    • 0.27
      ACRES
    • 20
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    County:

    School Ratings & Info

    Description

    Excellent investment property with true value-add opportunity and huge potential for upside in rents. In the City of Spring Valley, it borders La Mesa, Lemon Grove, and El Cajon. Very easy access to freeways, 94, 125, and Interstate 8, with a 20-minute commute (17 miles) from downtown San Diego. Built in 1985 on 11,802 SF parcel, it consist of two 3-bedroom and eight 2-bedroom units, all with rare 2 full bathrooms. Spacious floor plan averaging 866 square feet with private patios/balconies. Many units have tile floors and nine have granite countertops in the kitchen. Sixteen on-site parking spots and ample easy street parking. The structure has a pitched roof as well as onsite laundry facilities.

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    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 © 2021 San Diego MLS, Inc. Licensed in the state of California.
    www.sellsandiego.com/homes/116212152
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    3917 Spring Place Spring Valley, CA 91977

    • Price: $2,500,000
    • Status: ACTIVE
    • Updated: 14 min ago
    • ID#: 210009986
    22
    Beds
    20
    Baths
    0
    ½ Baths
    0.27
    Acres
    Neighborhood:
    Spring Valley (91977)
    County:
    San Diego
    Area:
    Spring Valley (91977)
    Property Description
    Excellent investment property with true value-add opportunity and huge potential for upside in rents. In the City of Spring Valley, it borders La Mesa, Lemon Grove, and El Cajon. Very easy access to freeways, 94, 125, and Interstate 8, with a 20-minute commute (17 miles) from downtown San Diego. Built in 1985 on 11,802 SF parcel, it consist of two 3-bedroom and eight 2-bedroom units, all with rare 2 full bathrooms. Spacious floor plan averaging 866 square feet with private patios/balconies. Many units have tile floors and nine have granite countertops in the kitchen. Sixteen on-site parking spots and ample easy street parking. The structure has a pitched roof as well as onsite laundry facilities.
    Exterior Features

    Construction DrywallFrameStucco Exterior Cable AvailablePart FencedWood FenceWood Deck Parking Spaces Parking Spaces Total 16 Roof Composition

    Interior Features

    Cooling Central Forced Air Elec Floor Coverings TileWall To Wall Carpet Floors Slab Heating Central Forced Air Elec Laundry Leased Sq Ft Of Improvement 8656 Stories 2 Story Units With Dishwashers 10 Units With Disposals 10 Units With Drapes 10 Units With Ranges 10 Units With Refrigerators 10

    Property Features

    Actual Cap Rate 4.51 Actual Gardener Expense 2152 Actual Gas And Electric 2917 Actual Gross Operating Income 171294 Actual Gross Scheduled Income 170352.0 Actual Maintenance Expense 11930 Actual Operating Expense 51678 Actual Pest Control Expense 1126 Actual Taxes Expense 19610 Actual Total Expense 15208 Actual Trash Expense 2475 Actual Water Sewer Expense 8268 Assumable Finance 0 Buildings 1 Existing Financing Conventional Financial Information Source Other/Remarks Gross Equity 1000000 Gross Multiplier 15.47 Have 10 Rental Units Leased Apartments 10 Mandatory Remarks None Known Market Area East County Monthly Rent Total 14196 Motive Want 1031 Exchange Other Income Actual 942 Other Income Amount 79 Other Income Source Laundry Projected Cap Rate 5.93 Projected Fl Ins Expense 3200 Projected Gross Multiplier 11.71 Projected Gross Operating Inc 226134 Projected Gross Scheduled Inc 225192 Projected Net Income 157166 Projected Operating Expense 68968 Projected Other Income 942 Short Sale No Special Freeway AccessHighway Frontage Sq Ft Source Buyer To VerifyTax Record Terms CashCash To New Loan Unit Number1 1 Unit Number10 1 Unit Number2 1 Unit Number3 1 Unit Number4 1 Unit Number5 1 Unit Number6 1 Unit Number7 1 Unit Number8 1 Unit Number9 1 Unit Rent Total1 1501 Unit Rent Total10 1423 Unit Rent Total2 1387 Unit Rent Total3 1423 Unit Rent Total4 1423 Unit Rent Total5 1475 Unit Rent Total6 1475 Unit Rent Total7 1315 Unit Rent Total8 1387 Unit Rent Total9 1387 Unit Rent1 1501 Unit Rent10 1423 Unit Rent2 1387 Unit Rent3 1423 Unit Rent4 1423 Unit Rent5 1475 Unit Rent6 1475 Unit Rent7 1315 Unit Rent8 1387 Unit Rent9 1387 Unit Type ApartmentFree Standing Zoning Commercial

    Listing provided courtesy of Coldwell Banker Realty. Listing information © 2021 San Diego MLS Inc. Source: SDMLS
    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 © 2021 San Diego MLS, Inc. Licensed in the state of California.
     
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    Neuman & Neuman Real Estate Inc.
    516 5th Avenue
    San Diego CA, 92101