Properties

Santee, CA 92071 8858 Olive Lane

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Presented By: Michael Mignosa with The Browar Group; [email protected]
  • MLS# PTP2401214
  • 03/04/2024
  • Get pre-approved
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  • SQFT • 21,990

Home Details

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.
Presented By: Michael Mignosa with The Browar Group; [email protected]

Interior Features for 8858 Olive Lane

Bathrooms

Total Baths

Other Interior Features

Air Conditioning Y/NNo
Basement (Y/N)No
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NNo
Street SuffixLane
Total Stories2

Other Rooms

Entry Level1

General for 8858 Olive Lane

Additional Parcels Y/NNo
Attached Garage No
Cap Rate4.4
Carport Y/NNo
CitySantee
CountySan Diego
Days on Market1
Directions8858 Olive Lane Santee, CA 92071
Garage Y/NNo
HOA0.0
HOA / Comm AssnNo
Home Warranty Y/NNo
Insurance Expense18200.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
Listing TermsConventional
MLS Area92071 - Santee
MobileHomeRemainsYNNo
Net Operating Income364217.0
New ConstructionNo
NumberOfUnitsTotal26
Open Parking Spaces36.0
Operating Expense227671.0
Private PoolNo
Property Attached Y/NNo
Property Sub Type AdditionalMultiFamily
Property SubTypeMultiFamily
Property TypeCommercialSale
Rent Control Y/NNo
Senior Community Y/NNo
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Street NameOlive
Trash Expense7621.0
View Y/NNo
Virtual TourClick here
Waterfront Y/NNo
Year Built1979
ZoningR14

Exterior for 8858 Olive Lane

Building Area Total21990.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesLotOver40000Sqft, NearPublicTransit
Lot Size Area43996.0
Lot Size SourcePublicRecords
Number of Buildings1
Open Parking Y/NNo
SpaNo
Total Parking36.0
Water SourcePublic

Additional Details

Price History

Connect Realty

Price $8,250,000
MLS#PTP2401214
List Date 03/04/2024
Property Type Commercial
Phone 888.795.6274
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The Woodlands, TX 77380
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