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25714061
25714062

9208 Harness St, Spring Valley, CA 91977

BV
CA DRE 01883437
NorthMarq - San Diego
Listed by NorthMarq - San Diego
$1,600,000
306 days on market
Updated 94 days ago

6 Units Spring Valley

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 3,600
Net Rentable (SqFt) 3,600
Units 6
Cap Rate 6.29%
NOI $100,601
Occupancy 100%
Pro-Forma Cap Rate 6.35%
Pro-Forma NOI $101,649
Price per SqFt $444
Broker Co-Op Yes
Class C
Year Built 1951
Buildings 1
Stories 2
Lot Size (SqFt) 9,315
Parking Spaces 9 spaces
Parking Per SqFt 2.50
Investment Type Stabilized

Current 6.1% Cap Rate!

Marketing description

9208 Harness Street in Spring Valley, California is a 6-unit apartment building situated on 9,315 square feet of land with a strong unit mix of all two-bedroom, one-bath units totaling 3,600-square feet of structure built in 1951. Significant improvements and upgrades have been done to the property by past ownership. The building is a two-story wood-frame stucco building with concrete slab foundation and a flat roof. Each unit has a water heater, and residents have three dedicated tandem parking spaces and three single parking spaces. The property is conveniently located less than one mile from neighborhood retail outlets, public parks and schools, and just two miles from Sweetwater Summit Regional Park and Reservoir where residents can enjoy the quiet outdoors.

Spring Valley is a community in the part of East San Diego County that consists of rolling hills and countryside. It is a 20-minute commute (17 miles) from downtown San Diego via Highway 94. The area offers a diverse geography sharing a landscape of choices, from a touch of urban living to snow dusted slopes in the rural back country in a mild climate influenced by ocean currents and abundant sunshine. Spring Valley is San Diego County’s largest unincorporated community, offering a small-town flavor to each of its residents. Lifestyles range from apartments or town home residents to the urban professional, and on to those with larger properties for enjoying horses, livestock and rural community life.

The population of Spring Valley is over 30,000 people with an average age of 35 years old. The median household income is over $65,000 and median home value is just over $400,000 with 60% of the residents owning their own homes. Spring Valley is located south of El Cajon, East of San Diego and is bordered by the San Diego National Wildlife Refuge.

Listing Contacts

BV
CA DRE 01883437
NorthMarq - San Diego
Listed by NorthMarq - San Diego

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$100,601.00
$8,383.42/mo

Valuation Metrics

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DSCR
6.29%
Cap Rate
6.29%
ROI

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