2555 Crestline Dr, Lemon Grove, CA 91945
16 Unit Apartment Building | $2,250,000 ($140,625/Unit) | 5.77% Cap Rate | Lemon Grove, CA 91945
For Sale
Active
8 pictures
- Date Added:
- September 16, 2024
- Days on Market:
- 7 days
Asking Price $2,250,000
- Property Type
-
Multifamily
- Square Feet
- 5,836 SF
Listing Contacts
Benn Vogelsang
Verified Profile
- Property Info
Property Overview
2555-71 Crestline Drive is a commercial property located in a quiet residential neighborhood in Lemon Grove with 16 units situated on a 28,749 square foot lot. The 3 residential structures total 5,836 square feet including one 2 Bedroom / 1 Bath, two 1 Bedroom / 1 Baths, two studios, and eleven SRO units. There are additional large, detached storage units. The main structure has large common areas including the shared kitchen, a TV/living area, and patio space. The SRO units are located at different wings of the structure and the pods have a bathroom for each grouping of SROs for a total of 3 shared bathrooms. Five of the units are sub-metered for electric and there is solar on the property. One unit is sub-metered for water. The property has ample parking, some of which is covered. There is onsite laundry and internet provided to tenants.
Lemon Grove is conveniently located 9 miles from Downtown San Diego. Lemon Grove has a plethora of local restaurants, coffee shops, entertainment options, and landmarks. The College Grove Shopping Center, a split-level open-air power center with 650,000 square feet of total retail floor area, is nearby. Lemon Grove Plaza, a 157,000 square foot shopping center anchored by Albertsons, is even closer. Convenient commuter options exist with quick access to State Route 94 which leads to Interstate 5 in Downtown San Diego. The Lemon Grove Depot (MTS) trolley stop is within walking distance. Lemon Grove is concentrated along the major transportation routes, affording residents and businesses easy access to major San Diego employment centers.
Nearby activities include Reading Cinemas, SDCCU Stadium, Lemon Grove Park, and Berry Street Park. Popular Restaurants include DZ Akins, Rubio’s Coastal Grill, Lido’s Italian Foods, Sportsman’s Pub and Islander’s Grill. Educational facilities in close proximity include San Miguel Elementary School, San Altos Elementary School, Lemon Grove Academy, Liberty Charter High School, San Diego State University, and Grossmont College.
Lemon Grove is conveniently located 9 miles from Downtown San Diego. Lemon Grove has a plethora of local restaurants, coffee shops, entertainment options, and landmarks. The College Grove Shopping Center, a split-level open-air power center with 650,000 square feet of total retail floor area, is nearby. Lemon Grove Plaza, a 157,000 square foot shopping center anchored by Albertsons, is even closer. Convenient commuter options exist with quick access to State Route 94 which leads to Interstate 5 in Downtown San Diego. The Lemon Grove Depot (MTS) trolley stop is within walking distance. Lemon Grove is concentrated along the major transportation routes, affording residents and businesses easy access to major San Diego employment centers.
Nearby activities include Reading Cinemas, SDCCU Stadium, Lemon Grove Park, and Berry Street Park. Popular Restaurants include DZ Akins, Rubio’s Coastal Grill, Lido’s Italian Foods, Sportsman’s Pub and Islander’s Grill. Educational facilities in close proximity include San Miguel Elementary School, San Altos Elementary School, Lemon Grove Academy, Liberty Charter High School, San Diego State University, and Grossmont College.
Property Details
- Class
- C
- Year Built
- 1961
- Stories
- 1
- Lot Size (sq. ft)
- 28,750 SF
- Units
- 16
Highlights
- Solar Panels, Covered Parking, Storage and Laundry
- Market 6.4 GRM & 11.34% Cap Rate
- Located In a Quiet Residential Neighborhood
- 11 Units Previously Master Leased for $20,000/Mo
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