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415 Grand Avenue

Spring Valley, CA 91977
  • $2,550,000
  • STATUS: ACTIVE
  • ON SITE: 35 Days
  • ID#: 220017627
Price Reduced
UPDATED: 36 min ago
$2,550,000
  • 3
    BEDS
  • 0.33
    ACRES
  • 2
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

415 Grand Avenue is a 10 unit apartment building located in the community of Spring Valley. The two structures were built in 1978 on a 14,583 square foot lot. The property has strong unit mix of nine 2 Bedroom / 1 Bath units and one 1 Bedroom / 1 Bath unit totaling 7,807 rentable square feet. There are 15+ open parking spaces. These spacious units have upside in rents. The financing can be assumed. $1.32M at 2.84%. Spring Valley is a community in the part of East San Diego County that consists of rolling hills and countryside. It is a 20-minute commute (17 miles) from downtown San Diego via Highway 94. The area offers a diverse geography sharing a landscape of choices, from a touch of urban living to snow dusted slopes in the rural back country in a mild climate influenced by ocean currents and abundant sunshine. Spring Valley is San Diego County’s largest unincorporated community, offering a small-town flavor to each of its residents.

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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 © 2022 San Diego MLS, Inc. Licensed in the state of California.
www.sellsandiego.com/homes/130714277
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415 Grand Avenue Spring Valley, CA 91977

  • Price: $2,550,000
  • Status: ACTIVE
  • On Site: 35 Days
  • Updated: 36 min ago
  • ID#: 220017627
3
Beds
2
Baths
0
½ Baths
0.33
Acres
Neighborhood:
Spring Valley (91977)
County:
San Diego
Area:
Spring Valley (91977)
Property Description
415 Grand Avenue is a 10 unit apartment building located in the community of Spring Valley. The two structures were built in 1978 on a 14,583 square foot lot. The property has strong unit mix of nine 2 Bedroom / 1 Bath units and one 1 Bedroom / 1 Bath unit totaling 7,807 rentable square feet. There are 15+ open parking spaces. These spacious units have upside in rents. The financing can be assumed. $1.32M at 2.84%. Spring Valley is a community in the part of East San Diego County that consists of rolling hills and countryside. It is a 20-minute commute (17 miles) from downtown San Diego via Highway 94. The area offers a diverse geography sharing a landscape of choices, from a touch of urban living to snow dusted slopes in the rural back country in a mild climate influenced by ocean currents and abundant sunshine. Spring Valley is San Diego County’s largest unincorporated community, offering a small-town flavor to each of its residents.
Exterior Features

Parking Spaces Total 15

Interior Features

Sq Ft Of Improvement 7807

Property Features

Actual Cap Rate 4.76 Actual Gross Operating Income 195959 Actual Gross Scheduled Income 202020.0 Actual Operating Expense 74697 Actual Vacancy And Credit Loss 6061 Assumable Finance 1330000 Buildings 2 Gross Equity 1220000 Gross Multiplier 12.6 Have Units Leased Apartments 10 Mandatory Remarks None Known Market Area East County Monthly Rent Total 16835 Motive Want Sell Projected Cap Rate 5.8 Projected Gross Multiplier 11.1 Projected Gross Operating Inc 222568 Projected Gross Scheduled Inc 229452 Projected Net Income 147871 Projected Operating Expense 74697 Projected Vacancy And Credit Loss 6884 Short Sale No Unit Number1 9 Unit Number2 1 Unit Rent Total1 14769 Unit Rent Total2 1695 Unit Rent1 1641 Unit Rent2 1695

San Diego MLS logo Listing provided courtesy of South Coast Commercial, Inc.. Listing information © 2022 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 © 2022 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