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9233 Kenwood Drive

Spring Valley, CA 91977
  • $9,500,000
  • STATUS: ACTIVE
  • ON SITE: 60 Days
  • ID#: 220014323
UPDATED: 181 min ago
$9,500,000
  • 10
    BEDS
  • 0.96
    ACRES
  • 6
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

We are pleased to offer Spring Gardens (the “Property”), a pristine rental community in Spring Valley, CA. The offering presents real estate investors with the opportunity to acquire a stabilized real estate asset with immediate rental upside that has been meticulously renovated and professionally managed. The property is being offered free and clear of debt encumbrances. The 27,978 square foot Property is comprised of five (5) two-bedroom / one-bathroom, eight (8)two-bedroom / two-bathroom, one (1) three-bedroom /one-bathroom, and fourteen (14) three-bedroom / two-bathroom units. The Property consists of a nicely landscaped setting spread out on a large lot totaling 41,817 square feet. Originally constructed in 1979, the Property was extensively renovated in 2016 and is well-maintained by the current owner. The renovation of the property consisted of both the exterior of the building and the interiors of the units. The exterior renovations include - paint, vinyl windows, and gated access with an intercom, which provides tenants with added convenience and security. The interiors were appointed with - new cabinets, granite countertops, fixtures, sinks, flooring, light fixtures, double-mirrored closets, window coverings, interior doors, and appliances including - refrigerators, ranges, and hoods. Each unit offers a washer and dryer, air-conditioning, window coverings, and either a balcony or patio. Select Units have storage closets on the patio or balcony.

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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/129636257
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9233 Kenwood Drive Spring Valley, CA 91977

  • Price: $9,500,000
  • Status: ACTIVE
  • On Site: 60 Days
  • Updated: 181 min ago
  • ID#: 220014323
10
Beds
6
Baths
0
½ Baths
0.96
Acres
Neighborhood:
Spring Valley (91977)
County:
San Diego
Area:
Spring Valley (91977)
Property Description
We are pleased to offer Spring Gardens (the “Property”), a pristine rental community in Spring Valley, CA. The offering presents real estate investors with the opportunity to acquire a stabilized real estate asset with immediate rental upside that has been meticulously renovated and professionally managed. The property is being offered free and clear of debt encumbrances. The 27,978 square foot Property is comprised of five (5) two-bedroom / one-bathroom, eight (8)two-bedroom / two-bathroom, one (1) three-bedroom /one-bathroom, and fourteen (14) three-bedroom / two-bathroom units. The Property consists of a nicely landscaped setting spread out on a large lot totaling 41,817 square feet. Originally constructed in 1979, the Property was extensively renovated in 2016 and is well-maintained by the current owner. The renovation of the property consisted of both the exterior of the building and the interiors of the units. The exterior renovations include - paint, vinyl windows, and gated access with an intercom, which provides tenants with added convenience and security. The interiors were appointed with - new cabinets, granite countertops, fixtures, sinks, flooring, light fixtures, double-mirrored closets, window coverings, interior doors, and appliances including - refrigerators, ranges, and hoods. Each unit offers a washer and dryer, air-conditioning, window coverings, and either a balcony or patio. Select Units have storage closets on the patio or balcony.
Exterior Features

Construction Stucco Exterior Cable AvailableFully LandscapedMetal Fence Parking GaragesSpaces Parking Spaces Total 28 Units With Garages 20

Interior Features

Cooling Wall/Window Floor Coverings TileVinylWall To Wall Carpet Sq Ft Of Improvement 27978 Stories 2 Story

Property Features

Actual Cap Rate 4.23 Actual Gross Operating Income 667093 Actual Gross Scheduled Income 667380.0 Actual Operating Expense 265244 Actual Vacancy And Credit Loss 20021 Assumable Finance 0 Complex Features Bbq Existing Financing Conventional Financial Information Source Owner Gross Equity 0 Gross Multiplier 14.23 Have Apts Mandatory Remarks None Known Market Area East County Motive Want Cash Out Other Income Actual 19735 Projected Cap Rate 5.32 Projected Gross Multiplier 12.22 Projected Gross Operating Inc 773657 Projected Gross Scheduled Inc 777240 Projected Net Income 505752 Projected Operating Expense 265905 Projected Other Income 19735 Projected Vacancy And Credit Loss 23317 Terms Cash To New Loan Unit Number1 5 Unit Number2 8 Unit Number3 1 Unit Number4 14 Unit Type Apartment Zoning Commercial

San Diego MLS logo Listing provided courtesy of Acre Investment Real Estate. 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