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    9360 San Diego Street

    Spring Valley, CA 91977
    • $1,920,000
    • STATUS: ACTIVE
    • ON SITE: 92 days
    • ID#: 200049654
    UPDATED: 6 min ago
    $1,920,000
    • 4
      BEDS
    • 0.19
      ACRES
    • 3
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Spring Valley (91977)
    Type:
    Multi-Family
    County:
    San Diego
    Area:
    Spring Valley (91977)

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    Description

    9360 San Diego Street is an 8 unit apartment complex that consists of 6,390 rentable square feet built in 1980 situated on a 8,436 square foot lot with plenty of off-street parking. The structure has a pitched roof and a unit mix that consists of seven 2 Bedroom / 2 Bath units, and one 2 Bedroom / 1 Bath unit as well as onsite laundry facilities. Previous ownership has remodeled the majority of the units in the last 3 years leaving additional upside in the rents. The current financing must be assumed. $1.2M +/- in debt at 2.92%. 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.

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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/111318540
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    9360 San Diego Street Spring Valley, CA 91977

    • Price: $1,920,000
    • Status: ACTIVE
    • Updated: 6 min ago
    • ID#: 200049654
    4
    Beds
    3
    Baths
    0
    ½ Baths
    0.19
    Acres
    Neighborhood:
    Spring Valley (91977)
    County:
    San Diego
    Area:
    Spring Valley (91977)
    Property Description
    9360 San Diego Street is an 8 unit apartment complex that consists of 6,390 rentable square feet built in 1980 situated on a 8,436 square foot lot with plenty of off-street parking. The structure has a pitched roof and a unit mix that consists of seven 2 Bedroom / 2 Bath units, and one 2 Bedroom / 1 Bath unit as well as onsite laundry facilities. Previous ownership has remodeled the majority of the units in the last 3 years leaving additional upside in the rents. The current financing must be assumed. $1.2M +/- in debt at 2.92%. 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.
    Exterior Features

    Parking Spaces Total 8

    Interior Features

    Sq Ft Of Improvement 6390

    Property Features

    Actual Cap Rate 4.79 Actual Gross Operating Income 135350 Actual Gross Scheduled Income 139536.0 Actual Operating Expense 43427 Actual Vacancy And Credit Loss 4186 Assumable Finance 1200000 Buildings 1 Gross Equity 720000 Gross Multiplier 13.8 Have Units Leased Apartments 8 Mandatory Remarks None Known Market Area East County Monthly Rent Total 11628 Motive Want Sell Present Loan 1200000 Projected Cap Rate 6.32 Projected Gross Multiplier 11.3 Projected Gross Operating Inc 164706 Projected Gross Scheduled Inc 169800 Projected Net Income 121279 Projected Operating Expense 43427 Projected Vacancy And Credit Loss 5094 Short Sale No Unit Number1 7 Unit Number2 1 Unit Rent Total1 10003 Unit Rent Total2 1425 Unit Rent1 1429 Unit Rent2 1425

    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