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Key Details
Sold Price $11,650,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 220024073
Sold Date 03/30/23
Property Description
Spring Valley 44, a 44-unit apartment community, located in the Casa de Oro neighborhood of Spring Valley. Built in 1971, the property features 17 one-bedroom/ one-bathroom units, 11 two-bedroom/one-bathroom units, and 16 two-bedroom/ two-bathroom units. Spring Valley 44 is comprised of four buildings and is located on a 1.05-acre lot. Spring Valley 44 offers investors the opportunity to acquire a stable asset in a preferred Casa de Oro community with the ability to continue to capture upside in rental income through renovation of the units. The immediate surrounding community is comprised of residential housing, schools, and local retail outlets. Residents will enjoy the Property’s many common area amenities, including open parking, gated swimming pool, and on-site laundry facilities. Each unit has a generous amount of square footage and feature fully equipped kitchens with dishwashers, private patios (select units), and upgraded LVT (faux wood) flooring (select units). Located 11 miles East of San Diego, Spring Valley is the country’s largest unincorporated community and it is comprised of rolling hills and countryside. Named for the fresh water spring located there, the community boasts an enviable climate influenced by ocean currents and winter temperatures averaging 61 degrees. Residents enjoy the country feel, but have close proximity to employment, dining and retail via the 94 and 125 freeways.
Location
State CA
County San Diego
Area Spring Valley (91977)
Interior
Cooling Wall/Window
Exterior
Exterior Feature Fully Landscaped
Garage Spaces
Total Parking Spaces 40
Building
Story 2
Others
Space Rent $956,628
Financing Other/Remarks
Special Listing Condition Call Agent
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Bought with Christopher Roberson • Pursuit Realty