Skip To Content

7101 & 7138 Westview Place

Lemon Grove, CA 91945
  • $4,000,000
  • STATUS: ACTIVE
  • ON SITE: 119 Days
  • ID#: 230010355
Price Reduced
UPDATED: 20 min ago
$4,000,000
  • 6
    BEDS
  • 0.48
    ACRES
  • 5
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

Fully Remodeled 5.7% CAP Day One!! 7101 & 7138 Westview Place offers an investment opportunity for any investor! Originally built in 1969, the 11-unit apartment complex is located in Lemon Grove, a suburb city in San Diego County. The Westview Apartment complex consists of eight 3 Bed/2 Bath units, one 2 Bed/ 2 Bath units, and two 1 Bed/ 1 Bath units. The units are between 500- 1,300 SF and sits on two 8,000 SF lots on the same street. The properties can be bought together or separately. There is parking available for tenants on site and the property has been well maintained. There is a large common yard area that has potential to upgrade to bring additional value to tenant living.

Monthly Payment Calculator

San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2023 San Diego MLS, Inc. Licensed in the state of California.
www.coastalhomesbytiffany.com/homes/140114058
Print Image

7101 & 7138 Westview Place Lemon Grove, CA 91945

  • Price: $4,000,000
  • Status: ACTIVE
  • On Site: 119 Days
  • Updated: 20 min ago
  • ID#: 230010355
6
Beds
5
Baths
0
½ Baths
0.48
Acres
Neighborhood:
Lemon Grove (91945)
County:
San Diego
Area:
Lemon Grove (91945)
Property Description
Fully Remodeled 5.7% CAP Day One!! 7101 & 7138 Westview Place offers an investment opportunity for any investor! Originally built in 1969, the 11-unit apartment complex is located in Lemon Grove, a suburb city in San Diego County. The Westview Apartment complex consists of eight 3 Bed/2 Bath units, one 2 Bed/ 2 Bath units, and two 1 Bed/ 1 Bath units. The units are between 500- 1,300 SF and sits on two 8,000 SF lots on the same street. The properties can be bought together or separately. There is parking available for tenants on site and the property has been well maintained. There is a large common yard area that has potential to upgrade to bring additional value to tenant living.
Exterior Features

Construction Stucco Parking Spaces Units With Garages 0

Interior Features

Cooling None Sq Ft Of Improvement 0 Unit Furnished1 No Unit Furnished2 No Unit Furnished3 No Units With Dishwashers 11 Units With Disposals 11 Units With Ranges 11 Units With Refrigerators 11

Property Features

Actual Cap Rate 5.7 Actual Fl Ins Expense $4950 Actual Gardener Expense $1920 Actual Gas And Electric $4058 Actual Gross Operating Income 318587 Actual Gross Scheduled Income 328440.0 Actual Maintenance Expense $5049 Actual Operating Expense 99667 Actual Pest Control Expense $755 Actual Prop Management $16422 Actual Taxes Expense $55930 Actual Trash Expense $6070 Actual Vacancy And Credit Loss 9853 Actual Water Sewer Expense $4513 Assumable Finance 0 Buildings 2 Gross Equity 0 Gross Multiplier 12.2 Have Property Leased Apartments 11 Mandatory Remarks None Known Market Area East County Monthly Rent Total 27370 Motive Want Sell Projected Cap Rate 7.2 Projected Fl Ins Expense $4950 Projected Gardener Expense $1920 Projected Gas And Electric $4058 Projected Gross Multiplier 10.2 Projected Gross Operating Inc 428759 Projected Gross Scheduled Inc 442020 Projected Maintenance Expense $5049 Projected Operating Expense 99667 Projected Pest Expense $755 Projected Property Mgmt Expense $16422 Projected Taxes Expense $55930 Projected Trash Expense $6070 Projected Vacancy And Credit Loss 13261 Projected Water And Sewer Expense $4513 Short Sale No Tenant Pays Electric Y Tenant Pays Gas Y Tenant Pays Water Y Unit Number1 8 Unit Number2 1 Unit Number3 2 Unit Rent Total1 22070 Unit Rent Total2 2100 Unit Rent Total3 3200 Unit Rent1 $2600-$3000 Unit Rent2 $2100 Unit Rent3 $1600 Zoning R-3

San Diego MLS logo Listing provided courtesy of Jason Lee of Jlm Real Estate Inc.: 858-336-9688. Listing information © 2023 San Diego MLS Inc. Source: SDMLS
San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2023 San Diego MLS, Inc. Licensed in the state of California.
 
https://bt-photos.global.ssl.fastly.net/sandiego/1280_boomver_1_230010355-2.jpg https://bt-photos.global.ssl.fastly.net/sandiego/1280_boomver_1_230010355-2.jpg https://bt-photos.global.ssl.fastly.net/sandiego/1280_boomver_1_230010355-2.jpg
Logo
Tiffany Torgan | Prestige Properties Enterprises
7855 Ivanhoe Ave. Suite 210
La Jolla CA, 92037