Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
None
Sq.Footage
N/A
We are proud to present Villa Hermosa I and II in South San Diego; 2 properties consisting of 58 apartment homes located on the same block and built respectively in 1986 & 1988. Current ownership has maintained nearly 100% occupancy through years of self-management. All units are 2Bed/1Bath floor-plans; 27 of which measure 610 sq. ft. each at 201-207 Willie James Jones Avenue and 31 of which measure 700 sq. ft. each at 314 Willie James Jones Avenue. The properties are located a little over 1 football field away from each other; efficient for management and logistics. Current ownership has raised select units at 201-207 WJJ up to $1275 whereas the average rent for this 27 unit property is only $1076. The same type of rental upside exists at 314 WJJ where the top end rent is $1300; the average for this property of which is only $1067. There are several long term tenants that reside between the 2 properties. There are 28 garages and 2 separate laundry rooms between the 2 properties as other income. There are 28 garages and 2 separate laundry rooms between the 2 properties that make up the extra income. The garages are rented out separately. The laundry facilities are on lease with a professional service company. Villa Hermosa I & II is an ideal acquisition for the proactive investor looking for newer built property that offers better than average immediate return with proven upside through stabilizing the rent rolls. The properties have been self-managed so pride and personal energy has gone into the tenant profile & property maintenance / improvements. Amenities: BBQ Exterior: ,
Features & Amenities
Interior
Area & Lot
-
Lot Size(acres)
1.61
-
Property Type
Commercial Sale
Exterior
-
Garage
No
-
Construction Materials
Stucco
Financial
-
Sales Price
$8,900,000
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Location
County
San Diego
Elementary School
Middle School
High School
Listing Courtesy of Chris Robinson , Acre Investment Real Estate
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