Property listed by ACI Apartments, Christina Labowicz 619-299-3000
3280 Olive Street
Lemon Grove, CA 91945
$15,995,000
Introducing the Olive Tree Apartments—a pride-of-ownership, 64-unit multifamily investment offering both immediate income and significant rental upside. Situated on over 2 acres in the heart of Lemon Grove, this well-maintained asset boasts a current GSI of ~$93,000/month with a projected 38% rental upside. The spacious unit mix features 1BR/1BA… Read More (677 SF) and 2BR/1.5BA (833 SF) floor plans. Select interiors have already been upgraded, including a 1-bedroom unit that recently leased at $1,950 within days—validating the market potential. A detailed 5-year value-add strategy and rent increase schedule are available upon request. Community amenities include gated entry, off-street parking, laundry room, office, grill and a pool & spa—enhancing tenant retention and lifestyle appeal. With a Walk Score of 90, the property is steps from grocery stores, schools, public transit, and minutes to Downtown San Diego. Large-scale properties with remaining upside are increasingly rare in the San Diego market—this is a unique opportunity to acquire both stability and growth in a supply-constrained region. Read Less
Listing Snapshot
Days Online
11
Last Updated
Property Type
Mixed Use
Lot Size
2.11 Acres
MLS Number
250033469SD
30 Days Snapshot Of 91945
$698k
-9%
(avg) sold price
12
-20%
homes sold
80
+37%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
1 building, Construction materials: Frame
Cooling
WallWindowUnits
Expenses
Operating expense: $489,881
Heating
WallFurnace
Income
Net operating income: $605,932
Lot
2.1059 acres, 91,735 square feet, Size: 91,735
Parking
80 totals parking
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Based on information from California Regional Multiple Listing Service, Inc. as of and/or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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