1790 Dayton Dr - Apartments FOR SALE


Lemon Grove, CA 91945
$5,100,000 USD
858-761-2529
1790 Dayton Dr, Lemon Grove, CA for Sale
$5,100,000 USD
Apartments - FOR SALE
1/32
null | 5.47% Cap Rate

1790 Dayton Dr
Lemon Grove, CA 91945


HIGHLIGHTS

  • Renovated in 2014, with additional rental upside
  • Desirable unit-mix of studio and one-bedroom / one-bathroom floorplans
  • Convenient access to Imperial Avenue, Downtown, and the 94 and 805 freeways
  • Ample off-street parking for residents

OVERVIEW

We are pleased to present for sale, Limoncello, a 24-unit value-add community located in Lemon Grove, California. Built in 1995 on 0.52 acres, the property features a unit mix comprised of fifteen (15) studio units averaging 290 square feet and nine (9) one-bedroom / one-bathroom units averaging 402 square feet. 1790-1822 Dayton Dr features ample off-street parking, on-site laundry facilities, BBQ area, a common area garden, and on-site maintenance. Residents enjoy quick access to Imperial Avenue and major thoroughfares through Jamacha-Lomita and Encanto neighborhoods. Renovated in 2014, the recently renovated units feature hardwood floors, air conditioning, and patios or balconies. MTS Trolley line and bus services are conveniently located 2.0 miles away at the intersection of Massachusetts Avenue and Imperial Avenue, providing residents a convenient ride into downtown San Diego and nearby labor markets. Value-add sales continue to be a popular target in this submarket for local and private investors. Backed by emerging apartment fundamentals in the submarket, proximity to major employment centers, and the property’s true value add potential, the property is a perfect opportunity for an investor to gain a foothold into the submarket’s emerging growth. View More: https://www.marcusmillichap.com/properties/158234/limoncello

FOR SALE DETAILS

PRICE

$5,100,000 USD

PRICE/SF

$654 USD /SF

# OF UNITS

24

PRICE/UNIT

$212,500

CAP RATE

5.47%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Limoncello

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1995

PARKING SPACES

16

LAND DETAILS

LAND ACRES

0.52 AC

LAND SF

22,651 SF

ZONING

-

APN/PARCEL ID

577-080-23

ASK ABOUT THIS PROPERTY

Austin Ray HuffmanMarcus & MillichapMore Info
858-761-2529

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Austin Ray HuffmanMarcus & MillichapMore Info
858-761-2529

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.