9760 Marilla Drive

Lakeside, CA 92040

$9,850,000
Last Sold Price
2
Beds
3
Baths
Sq. Ft.
/ Sq. Ft.
Sq. Ft.
per Sq. Ft.

Description

Price reduction. Seller has found their upleg. The Magnolia Terrace apartment community represents a solid value add investment opportunity for acquisition in the San Diego County apartment market. Built in 1974, the 54-unit property rests on a 1.26 acre lot and consists of 25,920 square feet of rentable space. The property has a unit mix of 36 studios, 16 one bedroom one bath units, and 2 two-bedroom one bath units. Current ownership also has an in-place RUBS program to recapture the cost of water...Price reduction. Seller has found their upleg. The Magnolia Terrace apartment community represents a solid value add investment opportunity for acquisition in the San Diego County apartment market. Built in 1974, the 54-unit property rests on a 1.26 acre lot and consists of 25,920 square feet of rentable space. The property has a unit mix of 36 studios, 16 one bedroom one bath units, and 2 two-bedroom one bath units. Current ownership also has an in-place RUBS program to recapture the cost of water usage while tenants pay their own electric. Residents enjoy the convenience of onsite laundry (leased equipment) as well as a swimming pool/barbecue area for family gatherings. The spacious parking area has 1 parking space for each unit plus additional spots that some tenants pay extra for, generating additional income for the owner. The property is located just off the 67 freeway affording the residents convenient access to jobs and all that San Diego has to offer. With solid in place income a new owner could renovate units as they turn over and increase rents.
  1. Listed by Gary Kaufman • DRE #01816761 • South Coast Commercial, Inc.

Property Details for 9760 Marilla Drive

City Postal ID
LAKESIDE (92040)

Location

Listing Courtesy of South Coast Commercial, Inc., Gary Kaufman, DRE #01816761

Sold By South Coast Commercial, Inc., Cody J Evans, DRE #01399935

Add your commute
LISTING UPDATED: 10/11/2023 08:38 AM

Property Details for 9760 Marilla Drive

StatusSold
MLS #230009610
Days on Market114
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeCommercial-Res Income / Apartment
Year Built-
Lot Size1.26 AC / 54,885 SF
CountySan Diego County

Location

Listing Courtesy of South Coast Commercial, Inc., Gary Kaufman, DRE #01816761

Sold By South Coast Commercial, Inc., Cody J Evans, DRE #01399935

Add your commute

Building Information for 9760 Marilla Drive

Stories-Residences-Year Built-Building Size-Lot Size1.26 AC / 54,885 SF

Payment Calculator

$63,069 per month

30 year fixed, 7.25% Interest

Principal and Interest

$53,755

Property Taxes

$9,314

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 9760 Marilla Drive

Summary Information
Property and Location
  • System ID: 230009610
  • Class: COMMERCIAL-RES INCOME
  • Street Number Numeric: 9760
  • Street Name: Marilla Dr
  • Market Area: East County
Interior and Exterior Features
Interior Features
  • Num of Units w/Dishwashers: 0
Exterior Features
  • Exterior: All Auto Sprinklers, Fully Landscaped, Wood Fence
  • Roof: Other/Remarks
Property Information
Property and Assessments
  • Entry Only: No
  • Assessors Parcel Num: 382-210-14-00
Multi Family Information
Unit 1
  • Unit Furnished: 0
  • Unit Rent: 1399
  • Unit Rent Total: $50,376
  • Unit 1 Number of Bedrooms: 0
  • Unit 1 Number of Bathrooms: 1
Unit 2
  • Unit Furnished: 0
  • Unit Rent: 1564
  • Unit Rent Total: $25,024
  • Unit 2 Number of Bedrooms: 1
  • Unit 2 Number of Bathrooms: 1
Unit 3
  • Unit Furnished: 0
  • Unit Rent: 1482
  • Unit Rent Total: $2,964
  • Unit 3 Number of Bedrooms: 1
  • Unit 3 Number of Bathrooms: 1
Building Details
  • Unit Type: Apartment
  • Age: 1974
  • Amenities: BBQ, Clubhouse, Exercise Room, Heated Pool
  • Construction: Stucco
  • Floor Covering: Vinyl
  • Have: 54 Units
  • Motive/Want: Exchange
  • Parking: Carports, Spaces
  • SqFt of Improvement: 25,920
  • Tenant Pays Electric: Y
  • Tenant Pays Water: Y

Property History for 9760 Marilla Drive

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 9760 Marilla Drive

Taxable ValueLand$2,844,571Additions$4,432,412Total$7,276,983
Tax Record2023$111,768 ($9,314 / month)
Home Facts
Total Finished SqFt25,920 SqFtAbove Grade Finished SqFt25,920 SqFtLot Size54,885 SqFtStyleMulti-Family Res (5+ Units)Year Built1974ZoningCOMMERCIALCountySAN DIEGOAPN382-210-14-00

Schools near 9760 Marilla Drive

This home is within Grossmont Union High School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - 7 to 12
Rating
School
Distance
Lemon Crest Elementary School
PublicK to 5

Lakeside Middle School
Public6 to 8

Santana High School
Public9 to 12

River Valley Charter School
Charter7 to 12

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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Similar Sold Homes

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Listing Courtesy of South Coast Commercial, Inc., Gary Kaufman, DRE #01816761

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