Listing provided courtesy of Josh Browar of The Browar Group. Last updated 2020-09-11 09:20:35.000000. Listing information © 2020 SANDICOR, Inc.
Asking Price: $3,895,000
5137 Groveland Drive, San Diego CA 92114
Community: Metro Central
This Com-Res Income property was built in and is priced at $3,895,000. Please see the additional details below.
- 0 Sq Ft
- 1 bathrooms
- 3 bedrooms
- MLS#: 200039939
- Type: Com-Res Income
- Year Built:
Pleased to offer Groveland Manor, one of the highest yielding multi family investment opportunities in San Diego County. The property boasts a superior units mix of fifteen 3br/1ba 980sqft apartments and one non-conforming 1br/1ba apartment. Current ownership recently replaced all roofing systems (January 2020), has renovated five of the fifteen 3br/1ba apartments, replaced security entry gate motor systems, upgraded laundry equipment, etc. Conservatively there is 12% of rental upside for 2/3 of the units which can easily be obtained, in a short period of time (~2yrs), via maximum rental increases in the newer rent controlled environment. The property lies on an oversized approx.acre lot which sets itself up perfectly to add exterior amenities or multiple ADU's. Other important features, include but are not limited to, fully gated access, ample off street parking, upgraded kitchens and bathrooms (select units), and spacious private patios (select units).