9760 Marilla Drive
9760 Marilla Drive
$9,850,000
2
3
—
—
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Sold 10/10/23
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.
- Listed by Gary Kaufman • DRE #01816761 • South Coast Commercial, Inc.
Property Details for 9760 Marilla Drive
City Postal ID
LAKESIDE (92040)
Location
LISTING UPDATED: 10/11/2023 08:38 AM
Property Details for 9760 Marilla Drive
Status | Sold |
---|---|
MLS # | 230009610 |
Days on Market | 114 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Commercial-Res Income / Apartment |
Year Built | - |
Lot Size | 1.26 AC / 54,885 SF |
County | San Diego County |
Location
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
The Payment Calculator is for illustrative purposes only.
Property Information for 9760 Marilla Drive
Property History for 9760 Marilla Drive
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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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.
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