8858 Olive Ln, Santee, CA 92071
26 Unit Apartment Building | $8,250,000 ($317,308/Unit) | 4.41% Cap Rate | Santee, CA 92071
For Sale
Active
Asking Price $8,250,000
- Property Type
-
Multifamily
- Square Feet
- 23,400 SF
Listing Contacts
Josh Browar
Mike Mignosa
Property Overview
We are pleased to present the Olive Tree Apartments. The Olive Tree Apartments are located at 8858 Olive Lane Santee, CA 92071. This 26-unit apartment community was built in 1979 and sits on a 43,996 square foot lot. The property is comprised of (1) 1bed+1bath unit, & (25) 2bed+2bath units, and 36 surface level parking spaces. The Olive Tree Apartments include a communal BBQ outdoor area, on site laundry, and private balconies or patios for all units. Recent upgrades include but are not limited to a newer roof, parking lot improvements, and outdoor lighting & landscaping. Held long-term by current ownership, the property represents an excellent value add opportunity for astute investors to fix up the units and increase cash flow. The Olive Tree Apartments are less than a mile from local shopping including Mission Gorge Square Shopping Center, Santee Trolley Square, and Santee Town Shopping Center and Trolley Station. This superb location offers tenants the ability to walk to local shopping, dining, and more. This location also offers easy access to main thoroughfares such as Mission Gorge Road and State Route 52.
DO NOT GO ON THE PROPERTY. BUYER TO VERIFY ALL INFO HEREIN IS CORRECT AND TRUE. PROPERTY ONLY SHOWN WITH ACCEPTED OFFER SINCE UNITS ARE OCCUPIED. CALL OR TEXT MIKE MIGNOSA @ 408-623-6444 FOR ALL QUESTIONS AND / OR INQUIRIES
DO NOT GO ON THE PROPERTY. BUYER TO VERIFY ALL INFO HEREIN IS CORRECT AND TRUE. PROPERTY ONLY SHOWN WITH ACCEPTED OFFER SINCE UNITS ARE OCCUPIED. CALL OR TEXT MIKE MIGNOSA @ 408-623-6444 FOR ALL QUESTIONS AND / OR INQUIRIES
Property Details
- Class
- C
- Year Built
- 1979
- Stories
- 2
- Property Subtype
- Manufactured Housing/Mobile Home
- Lot Size (sq. ft)
- 43,996 SF
- Units
- 26
Highlights
- Actual 4.4% CAP rate
- Pro Forma 6.7% CAP rate
- Steps to Santee Trolley Square
- Recent improvements include, but are not limited to, a new roof, resurfaced parking lot, exterior lighting & landscaping, and interior renovation in s
Nearby Properties
Similar Properties
FAQ
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- What is the difference between Tier 1 & Tier 2 in the Due Diligence Vault?
- Documents that are placed in a Tier-1 Due Diligence vault require the execution of a Confidentiality Agreement (“CA”) for access. Documents and folders placed in the Tier-2 vault are intended to have an added layer of security and require the execution of a CA in addition to required Broker approval for access.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].