3720-3722 Bancroft Drive, Spring Valley, CA, rehmannrealty.com, CA Real Estate Search.">
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$875,000 For Sale

3720-3722 Bancroft Drive
Spring Valley, CA 91977

3 units | Multi Family 2-4
7405 sq ft lot - MLS# 180051968
Property Photo
1/17

Description

Realistic investment opportunity, multi-purpose lot has 3 detached residences, 2 with two-car garages, fenced yards (3722 artificial & 3720 natural landscape, & W/D hookups), energy efficient windows, bonus studio (private walkway, security gate, deck & 1 parking spot). Commuter benefit is freedom of central location of Hwy 94 & 125 hub, discover local shops in Casa de Oro, La Mesa, & Lemon Grove, use Spring Street Station, Orange Line MTS Trolley (1.5 mi) or walk to bus stops, & local parks (< 1 mi)., Rehmann Realty Group is pleased to present you this: La Mesa Country Club subdivision investment property offering 3 detached living units in north Spring Valley. Two are detached homes w/2 car garages w/automatic door openers (3722 - new insulated garage door & 3720 - detached 2 car garage is the 4th building on the lot), yards/patios are fenced (3722 has artificial grass & 3720 has natural grass). The mid-property bonus studio has all new stainless steel appliances, private walkway/security gate entrance, and entertainment deck. Additionally, the lot zoning was upgraded from multi-unit residential to general commercial (C37) offering future redevelopment & commercial growth with a secondary purpose as residential. Commuters benefit from this central San Diego property location with local shopping, or travel to Downtown (12 mi) & Beaches (15 mi). This incredible property is being offered to an investor looking to improve their “Return on Investment” or a home buyer looking for additional sources of income plus the ability to build financial independence, or add security for retirement! Some upgraded features on the property include, new 30 yr roofs (all 4 buildings installed 4/18) and the 3 living units have dual pane energy efficient windows to lower energy bills.

Features

  • # of Buildings: 4
  • # of Units w/Garage: 2
  • # of Units w/Patios: 3
  • # of Units w/Range/Oven: 2
  • # of Units w/Refrigerator: 3
  • # Units w/Cooling: 1
  • Additional Property Use: Res/Business Use OK
  • Annual Expense Actual: 12000
  • Annual Expense Projected: 15000
  • Boat Facilities: No/Unknown
  • Cap Rate Actual: 0.05
  • Cap Rate Projected: 0.05
  • Community: Spring Valley
  • Complex/Park: La Mesa Country Club Estates
  • County/Area: San Diego County
  • Elementary School: https://www.lmsvschools.org/, La Mesa Spring Valley School District
  • Fencing: Full, Gate
  • Frontage in Ft: 52
  • Gross Rent Multiplier Act: 15
  • Gross Rnt Multiplier Proj: 14
  • Gross Sched Income Actual: 56000
  • Gross Sched Income Proj.: 62100
  • High School: Grossmont Union High School District, http://www.guhsd.net/
  • Listing Area: SPRING VALLEY (91977)
  • Listing Status: Active
  • Lot Description: Street Paved
  • Lot Size: 0.1700
  • Lot Size Area: 7, 500-10, 889 SF
  • Lot SqFt: 7640
  • Middle School: https://www.lmsvschools.org/, La Mesa Spring Valley School District
  • Net Oper.Income Projected: 47100
  • Parking Garage Unit 1: Detached
  • Parking Garage Unit 2: Attached
  • Parking Non-Garage Unit 1: Tandem, Uncovered
  • Parking Non-Garage Unit 2: Uncovered
  • Parking Non-Garage Unit 3: Assigned, Detached, Uncovered
  • Pets: Yes
  • Property Type: Multi Family 2-4
  • Roof: Composition
  • Sewer/Septic: Sewer Connected
  • Siding: Stucco
  • Sub Type: Multi Family 2-4
  • Subdivision: La Mesa Country Estates
  • Subdivision/Neighborhood: La Mesa Country Estates
  • Tenant Pays: Trash, Cable TV, Electricity, Gas/Propane
  • Terms: Cash, Conventional
  • Topography: Level, Slope Gentle
  • Unit # for Unit 1: 3720
  • Unit # for Unit 2: 3722
  • Unit # for Unit 3: Studio
  • Unit 1 # Bedrooms: 1
  • Unit 1 # of Full Baths: 1
  • Unit 1 # Total Baths: 1
  • Unit 1 Deposit: 1400
  • Unit 1 Estimated SqFt: 693
  • Unit 1 Exclusive Use Yard: Yes
  • Unit 1 Laundry Hook Ups: Yes
  • Unit 1 Prkng Garage Space: 2
  • Unit 1 Projected Rent: 1675
  • Unit 1 Rent Actual: 1600
  • Unit 2 # Bedrooms: 2
  • Unit 2 # of Full Baths: 1
  • Unit 2 # Total Baths: 1
  • Unit 2 Estimated SqFt: 1058
  • Unit 2 Exclusive Use Yard: Yes
  • Unit 2 Laundry Hook Ups: Yes
  • Unit 2 Prkng Garage Space: 2
  • Unit 2 Projected Rent: 2100
  • Unit 3 # of Full Baths: 1
  • Unit 3 # Total Baths: 1
  • Unit 3 Estimated SqFt: 208
  • Unit 3 Exclusive Use Yard: Yes
  • Unit 3 Projected Rent: 1000
  • Units: 3
  • Water: Meter on Property
  • Water District: Helix Water District
  • Water Heater Type: Electric, Gas
  • Year Built: 1951
  • Zip Code: 91977
  • Zoning: C 37

Rehmann Realty Group
CalBRE # 01791813

Office: (619) 440-5626

Fax: (619) 440-5655
Info@RehmannRealty.com

8080 La Mesa Blvd # 207
La Mesa CA 91942

 

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