The Las Olas Apartments are a 15 unit apartment community located in the Valencia Park / Encanto neighborhood of San Diego, California. Its central location offers tenants easy access to all areas of the County and not only is the property walking distance to all public modes of transportation but less than half a mile to one of the city's major freeway (I-94). The property is also walking distance to shopping centers, schools, eateries, pharmacies, convenient stores, etc.
The property was built in 1986 and is situated on a 13,394 square foot lot. Las Olas Apartments consists of ten 2br/1ba apartments and five 1br/1ba apartments. There are 15 off street parking spaces, 7 single car garages, 3 oversized garages and laundry facilities on site. Seven units also offer spacious private patios.
Over the past year, Las Olas Apartments went through an amazing transformation in which many interior and exterior renovations were made. All 15 apartments were renovated which include, but are not limited to, upgraded kitchens & bathrooms, flooring, heating, paint, doors, new fixtures, etc. On the exterior, upgrades include, roofs/gutters, windows throughout, asphalt, paint, fencing, decks/balconies, lighting, etc.
Ownership has been able to increase rents to conservative market levels (with even some additional upside) for a new owner to continue to operate with low expenses (due to all of the improvements made) hence generating good returns.
