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    7525 Pacific Avenue

    Lemon Grove, CA 91945
    • $2,999,000
    • STATUS: ACTIVE
    • ON SITE: 26 days
    • ID#: 210009775
    Price Reduced
    $2,999,000
    • 4
      BEDS
    • 0.43
      ACRES
    • 3
      BATHS
    • 1
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    County:

    School Ratings & Info

    Description

    7525 Pacific Avenue is a large 12 unit apartment building featuring 8 spacious 2 bed / 2 bath single-level units and four 2 bed / 1.5 bath townhome units. The two story 13,800 square foot structure built in the 1970s sits on a 18,741 square foot lot with 18 parking spaces. Several units feature dens and computer rooms as well as large patios. The units have dishwashers, private balconies, and A/C units. One unit has private laundry hook ups. There is a common laundry room with one washer and one dryer. The units have white cabinets with brushed nickel fixtures, ceramic tile and carpeted floors as well as bookshelves and storage in unit. The property features newer asphalt and landscaping as well as significant upside in rents. DO NOT DISTURB TENANTS OR WALK ON PROPERTY.

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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/116157009
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    7525 Pacific Avenue Lemon Grove, CA 91945

    • Price: $2,999,000
    • Status: ACTIVE
    • ID#: 210009775
    4
    Beds
    3
    Baths
    1
    ½ Baths
    0.43
    Acres
    Neighborhood:
    Lemon Grove (91945)
    County:
    San Diego
    Area:
    Lemon Grove (91945)
    Property Description
    7525 Pacific Avenue is a large 12 unit apartment building featuring 8 spacious 2 bed / 2 bath single-level units and four 2 bed / 1.5 bath townhome units. The two story 13,800 square foot structure built in the 1970s sits on a 18,741 square foot lot with 18 parking spaces. Several units feature dens and computer rooms as well as large patios. The units have dishwashers, private balconies, and A/C units. One unit has private laundry hook ups. There is a common laundry room with one washer and one dryer. The units have white cabinets with brushed nickel fixtures, ceramic tile and carpeted floors as well as bookshelves and storage in unit. The property features newer asphalt and landscaping as well as significant upside in rents. DO NOT DISTURB TENANTS OR WALK ON PROPERTY.
    Exterior Features

    Parking Spaces Total 18

    Interior Features

    Sq Ft Of Improvement 13800 Units With Dishwashers 10 Units With Ranges 12 Units With Refrigerators 12

    Property Features

    Actual Cap Rate 4.35 Actual Gross Scheduled Income 216780.0 Actual Operating Expense 79884 Actual Vacancy And Credit Loss 6503 Assumable Finance 0 Buildings 1 Gross Equity 2999000 Gross Multiplier 13.8 Have Units Leased Apartments 12 Mandatory Remarks None Known Market Area East County Monthly Rent Total 18065 Motive Want Cash Out Other Income Source Laundry Present Loan 0 Projected Cap Rate 6.57 Projected Gross Multiplier 10.5 Projected Gross Operating Inc 276951 Projected Gross Scheduled Inc 285516 Projected Net Income 197067 Projected Operating Expense 82316 Projected Vacancy And Credit Loss 8565 Short Sale No Unit Number1 8 Unit Number2 4 Unit Rent Total1 12072 Unit Rent Total2 5860 Unit Rent1 1509 Unit Rent2 1465

    Listing provided courtesy of South Coast Commercial, Inc.. 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