757 Grand Avenue

Spring Valley, CA 91977

$3,995,000
Price
2
Beds
1
Bath
8,840 Sq. Ft.
$452 / Sq. Ft.
8,840
Sq. Ft.
$452
per Sq. Ft.

Description

Lots of real estate and income for the money! A fully gated and leased 10-unit condo style apartment building. Desirable unit mix with larger 8 (2 bed / 1.5 Baths and two extra-large (1 bed / 1 bath, all 10 units have recent interior improvements, The complex offers investors the opportunity to purchase a pride of ownership well-maintained property with tremendous upside in San Diego's most desirable and affordable neighborhood. Investors can purchase the asset, decrease expenses through increased...Lots of real estate and income for the money! A fully gated and leased 10-unit condo style apartment building. Desirable unit mix with larger 8 (2 bed / 1.5 Baths and two extra-large (1 bed / 1 bath, all 10 units have recent interior improvements, The complex offers investors the opportunity to purchase a pride of ownership well-maintained property with tremendous upside in San Diego's most desirable and affordable neighborhood. Investors can purchase the asset, decrease expenses through increased rents and create a well cash-flow asset in one of San Diego best performing markets. This is a rare opportunity for an investor to enjoy a stream of income in a highly desirable area. There is a laundry room currently in use that yields additional income This asset represents a unique offering with immediate value-add upside. All reasonable offers will be considered. Submit your offer today. You’ll be glad you did.
  1. Listed by Ed Bustamante • DRE #00845295 • Brokerage DRE #00845295 • South Bay Real Estate • ed@southbayre.net

Property Details for 757 Grand Avenue

Parking Spaces Total
7
Private Pool
No
Total Units
10.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
8840
Assessor Parcel Number
584-360-55-00
Property Attached YN
true

Location

Listing Courtesy of South Bay Real Estate, Ed Bustamante, DRE #00845295
Add your commute
LISTING UPDATED: 02/07/2024 09:56 AM

Property Details for 757 Grand Avenue

StatusActive
MLS #PTP2400621
Days on Market86
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1965
Lot Size0.23 AC / 10,120 SF
CountySan Diego County

Location

Listing Courtesy of South Bay Real Estate, Ed Bustamante, DRE #00845295
Add your commute

Building Information for 757 Grand Avenue

Stories2Residences-Year Built1965Building Size-Lot Size0.23 AC / 10,120 SF

Payment Calculator

$24,670 per month

30 year fixed, 7.25% Interest

Principal and Interest

$21,802

Property Taxes

$2,868

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 757 Grand Avenue

Rental Info
Rental Info
  • Tenant Pays: Telephone
Income / Expense / Tax Details
Income Details
  • Gross Income: $229,440
  • Gross Scheduled Income: $229,440
  • Gross Spendable Income: $203,628
  • Vacancy Allowance: 11472
  • Vacancy Allowance Rate: 5
  • Gross Operating Income: $217,968
  • Net Operating Income: $203,628
  • Gross Multiplier: 17.41
  • Cap Rate: 5.1
Expense Details
  • Operating Expense: $14,340
  • New Taxes Expense: $13,754
  • Insurance Expense: $3,781
  • Professional Management Expense: $0
  • Trash Expense: $3,600
  • Water Sewer Expense: $15,815
  • Total Expenses: $36,950
Tax / Assessment Info
  • Tax Tract Number: 441
  • CFD/Mello-Roos Fee: $0
  • Tax Lot: 2-4
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Unknown
  • Community Features: Gutters, Sidewalks, Street Lights, Suburban, Biking, Lake
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area, Community, Outside
Exterior Features
  • Entry Location: 1
  • Fence: No
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Front Yard, Level with Street, Lot 10000-19999 Sqft
  • Number Of Units: 10
  • Land Lease: No
  • Land Lease Type: Fee
  • Topography: Level
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: No
  • Uncovered Spaces: 7
  • Open Other Spaces Total: 7
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
Unit Information
Unit 1
  • Unit Type Units Total: 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $0
  • Unit Type Total Rent: $0
  • Unit Type Pro Forma: 2650
  • Unit Type Type: 1
Unit Information
  • Number Of Units Leased: 9
  • Rent Controlled: No
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 10
  • Number Of Separate Gas Meters: 10
  • Number Of Separate Water Meters: 1
  • Number With Range: 10
  • Number With Refrigerator: 10
  • Number With Disposal: 10
  • Number With Drapes: 10
  • Number With Patio: 10
  • Number Wall AC: 7

Property History for 757 Grand Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 757 Grand Avenue

Taxable ValueLand$1,500,000Additions$1,050,000Total$2,550,000
Tax Record2023$34,420 ($2,868 / month)
Home Facts
Total Finished SqFt8,840 SqFtAbove Grade Finished SqFt8,840 SqFtLot Size10,120 SqFtStyleMulti-Family Res (5+ Units)Year Built1965ZoningCOMMERCIALCountySAN DIEGOAPN584-360-55-00

Schools near 757 Grand Avenue

This home is within Grossmont Union High School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 4 to 8
Public - 9 to 12
Public - 6 to 8
Rating
School
Distance
La Presa Elementary School
PublicK to 6

Monte Vista High School
Public9 to 12

Quest Academy
Public6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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757 Grand Avenue is a multi-family home for sale in Spring Valley, CA 91977. This property was listed for sale on February 1, 2024 by South Bay Real Estate, it's currently listed at $3,995,000. It has been on the market for a total of 86 days and was last sold on November 10, 2022. This listing's school districts are Grossmont Union High School District, La Mesa-Spring Valley School District. Nearby schools include La Presa Elementary School, Science, Technology, Engineering, Arts, And Math Academy At La Presa and Monte Vista High School. 757 Grand Avenue is a 2-bed, 1-bath, 8,840 sqft multi-family home built in 1965.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of South Bay Real Estate, Ed Bustamante, DRE #00845295

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