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3240 Olive St
Lemon Grove, CA 91945
Olive Avenue Apartments · Multifamily Property For Sale
·
50 Units
PROPERTY FACTS
| No. Units | 50 | Building Size | 39,680 SF |
| Property Type | Multifamily | Average Occupancy | 96% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1980/2014 |
| Building Class | C | Parking Ratio | 1.26/1,000 SF |
| Lot Size | 1.74 AC | ||
| Zoning | R-4 | ||
| No. Units | 50 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.74 AC |
| Building Size | 39,680 SF |
| Average Occupancy | 96% |
| No. Stories | 2 |
| Year Built/Renovated | 1980/2014 |
| Parking Ratio | 1.26/1,000 SF |
| Zoning | R-4 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Disposal
- Microwave
- Storage Space
- Eat-in Kitchen
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Walk-In Closets
- Carpet
- Freezer
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Picnic Area
- Pool
- Grill
- Walk-Up
ABOUT 3240 OLIVE ST , LEMON GROVE, CA 91945
Rare 50 unit apartment opportunity in Lemon Grove, an urban San Diego area community close to all including San Diego State University. Excellent unit mix of larger sized apartments with 16 x 2/1's and 34 x 1/1's. 2 story low density development over 1.7 acres includes ample parking, community pool/BBQ area, leasing office, onsite laundry room. Recent capital improvements include new silicon roof, all new energy efficient windows, 2 x 100 gal water heaters, 5 new owned coinless washer/dryers and 13 completely gutted/renovated apartments (12 of the 16 two bedrooms). Value add upside in rental income and interior apartment improvements. Please see the virtual tour. Shown with accepted offer.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 34 | $1,300 | 700 |
| 2+1 | 16 | $1,600 | 980 |
PROPERTY TAXES
| Parcel Number | 480-171-18 | Improvements Assessment | $7,104,787 |
| Land Assessment | $5,836,644 | Total Assessment | $12,941,431 |
PROPERTY TAXES
