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Property for sale: 7508-12 Church Street in Lemon Grove

7508-12 Church Street Lemon Grove

Main Photo: Property for sale: 7508-12 Church Street in Lemon Grove
$8,195,000 /482059.0
Prop. Type:
Com-Res Income
MLS® Num:
240006068
Status:
Active
Year Built:
2024
See attached Marketing Package. As of May 1st, 50% Leased. Leasing 2-3 units per week. The only "Garden Style" Brand New, 2024, Low Density Units Available in San Diego County. Large Floorplans of 10-2Bedroom/2Bath, 2-3Bedroom/2Bath, and 5-3Bedroom/2.5Bath Townhouse Units. 993 to 1,343 sq.ft. each. Revenue Producing Solar System. All Units Feature Patio Yards or Large Balconies. Stainless Steel Oven/Range, Refrigerators, Dishwashers, Microwaves and Washer/Dryers. A/C Forced Air, Quartz Counters, Community Courtyard, Rec Area, Outdoor Kitchen, Grill, Firepit and Bike Rack. Must See! Call for Private Tour. Best GRM & CAP Rate of Any Brand New Project in San Diego County!!
Rental Amount:
62860
Price Per Unit:
482059.0
County:
San Diego
Market Area:
East County
Number of Buildings:
2
Number of Units:
17
Stories:
2 Story
Num Stories:
2
Unit Type:
Apartment, Other/Remarks
Year Built:
2024
Cap Rate.:
5.42
Gross Multiplier:
12.11
Cash flow:
444415.0
Cash on cash:
5.42
Gross operating income:
731690
Gross scheduled income:
676860.0
Other income:
34560
Insurance F&L expense:
7057
Management expense:
26432
Taxes expense:
108511
Operating expense:
216398
Total expenses:
216398.0
Projected Cap Rate.:
5.42
Projected Gross Multiplier:
12.11
Projected cash flow:
444415.0
Projected gross operating income:
660813
Projected gross scheduled income:
12.11
Projected net Income:
444415
Projected other income:
34560
Projected insurance F&L expense:
7057
Projected management expense:
26432
Projected manager expense:
9134
Projected taxes expense:
108511
Projected total expenses:
216398.0
Gross equity:
4195000
Motive / Want:
Sell
Financial Information Source:
Other/Remarks
Existing Financing:
Conventional, Other/Remarks
94 to Broadway, to New Jersey, to Church Street.
Short Sale:
No
Listing Type:
Exclusive Right (R)
Complex Features:
Other/Remarks
Exterior Finish:
Cable Available, Fully Landscaped, Part Fenced, Solar Leased, Wood Fence, Remarks
Special:
City Transfer Tax, Other/Remarks, Service Contracts, Sellers Are RE Licensees
Parking:
Other/Remarks, Spaces
Total Parking Spaces:
27
Cooling:
Central Forced Air Elec, Other
Heating:
Central Forced Air Elec, Other/Remarks
Laundry:
Owned
Construction Material:
Other/Remarks, Stucco
Roof:
Composition, Other/Remarks
Floor finish:
Other/Remarks
Terms:
Cash, Cash to New Loan, Other/Remarks, Submit
Number of Units with Dishwashers:
17
Number of Units with Disposals:
17
Number of Units with Range/Oven:
17
Number of Units with Refrigerators:
17
Zoning:
R-3
Parcel Number:
480-161-02-00
Number of Units in Unit 1:
2
Total Rent for Unit 1:
3500.0
Bedrooms for Unit 1:
2
Bathroom 1:
2.0
Number of Units in Unit 2:
3
Total Rent for Unit 2:
8985.0
Bedrooms for Unit 2:
2
Bathroom 2:
2.0
Number of Units in Unit 3:
5
Total Rent for Unit 3:
14975.0
Bedrooms for Unit 3:
2
Bathroom 3:
2.0
Number of Units in Unit 4:
2
Total Rent for Unit 4:
7190.0
Bedrooms for Unit 4:
3
Bathroom 4:
2.0
Number of Units in Unit 5:
5
Total Rent for Unit 5:
17975.0
Bedrooms for Unit 5:
3
Bathroom 5:
2.5
Listed by Siemienowski & Associates
Data was last updated May 12, 2024 at 07:10 PM (UTC)
Gerri-Lynn Fives
Pacific Sotheby's Intl Realty
Data Source 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 Multiple Listing Service, Inc. 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 © 2024 San Diego Multiple Listing Service, Inc.

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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 Multiple Listing Service, Inc. 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 © 2024 San Diego Multiple Listing Service, Inc.