7569 University Ave

    La Mesa, CA 91942
    • $1,500,000
    • STATUS: CONTINGENT
    • ON SITE: 16 days
    • ID#: 200012245
    Under Contract
    UPDATED: 80 min ago
    $1,500,000
    • 0
      BEDS
    • 0.2
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    County:

    School Ratings & Info

    Description

    7565 and 7569 -71 University Ave is a mixed use property located in the City of La Mesa. Property consists of two adjacent parcels that have received a parcel map waiver (PMW) to combine two previous lots into one lot. The property currently consists of a four unit apartment complex (2bd/1bath), three commercial units with easy frontage access, and an SFR (2bd/1bath). In the apartment complex, one unit is recently renovated with a tenant, one is nearly complete and the other two are prepped for renovation, but not habitable. One commercial unit is rented and the other two only need modest renovation to re-lease. The SFR also needs some modest renovation to re-lease. With the PMW, a buyer can develop the property into a more robust multi-family property. Tenants will have easy access to transit lines, the 8 freeway and Route 125.

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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 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 © 2020 San Diego MLS, Inc. Licensed in the state of California.
    www.tolivebythesea.com/homes/104074673

    7569 University Ave La Mesa, CA 91942

    • Price: $1,500,000
    • Status: CONTINGENT
    • Updated: 80 min ago
    • ID#: 200012245
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.2
    Acres
    Neighborhood:
    La Mesa (91942)
    County:
    San Diego
    Area:
    La Mesa (91942)
    Property Description
    7565 and 7569 -71 University Ave is a mixed use property located in the City of La Mesa. Property consists of two adjacent parcels that have received a parcel map waiver (PMW) to combine two previous lots into one lot. The property currently consists of a four unit apartment complex (2bd/1bath), three commercial units with easy frontage access, and an SFR (2bd/1bath). In the apartment complex, one unit is recently renovated with a tenant, one is nearly complete and the other two are prepped for renovation, but not habitable. One commercial unit is rented and the other two only need modest renovation to re-lease. The SFR also needs some modest renovation to re-lease. With the PMW, a buyer can develop the property into a more robust multi-family property. Tenants will have easy access to transit lines, the 8 freeway and Route 125.
    Interior Features

    Sq Ft Of Improvement 4564

    Property Features

    Actual Gross Scheduled Income 146400.0 Actual Operating Expense 31745 Assumable Finance 0 Buildings 1 Gross Equity 0 Gross Multiplier 10.24 Have Cash Mandatory Remarks Offer Accepted Contingent On Court Approval Market Area East County Motive Want Cash Unit Type ApartmentFourplex Zoning Commercial

    Listing provided courtesy of Safe Harbor Money Management. Listing information © 2020 San Diego MLS Inc. Source: SDMLS
    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 © 2020 San Diego MLS, Inc. Licensed in the state of California.
     
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