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$ 7,005,000
Est. payment | /mo
0.42 Acres Lot
$ 7,005,000
Est. payment | /mo
0.42 Acres Lot
Key Details
Property Type Commercial
Listing Status Pending
Purchase Type For Sale
MLS Listing ID 240012520
Lot Size 0.420 Acres
Acres 0.42
Property Description
JUST REDUCED! Senior complex for 62+ and disabled residents. The existing conditional use permit will convey with the sale. There are no additional restrictions on rental income, other than standard CA rent control law. There is the possibility of adding 3 ADUs. There is a 320 SF recreation room. Large communal grassy yard. There have been two new construction developments in the last five years within three blocks of subject property; one on Fulton and one on Ulric. USD has made many improvements to their campus in the last decade, which has had a cascade affect improving the zip code. Walking distance to public transportation, a supermarket, other shopping, dining and services. Two 1/1 apartments are being used by the resident manager as a 2/2. Seller assumes that a door could be reinstalled to restore the two 1/1 units. One mortgage broker says it is possible to obtain a 6% interest only loan with a 1.15 debt coverage ratio: $3,685k downpayment and a $3,320k loan amount.
Location
State CA
County San Diego
Area Linda Vista (92111)
Exterior
Total Parking Spaces 17
Building
Story 2
Lot Size Range .25 through .50 Acres
Others
Space Rent $492,900
Listed by Terry Moore • Apartment Consultants Incorporated
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
1615 Murray Canyon Rd Suite 110, Diego, California, 92108, United States