H I L LT O PA P A R T M E N T S

For sale

— 24 units —

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5,765,000.00

3601 Hilltop DriveLemon Grove, CA 91945

V a l u e A d dOpportunity

GREAT

Introducing a 24 unit, multi-family townhome style, investment opportunity in Lemon Grove

Offering Memorandum September 2018

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D I S C L A I M E R

Information has been obtained from sources deemed reliable, however its accuracy cannot be guaranteed. The user is required to conduct their own due diligence and verification. Seller or seller's broker makes no representations or warranties

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P R O P E R T Y C H A R A C T E R I S T I C S# Units

24Stories

2Building Size

28,776sqftOccupancy

96%Year Built

1969

Unit Mix

12Buildings

6Lot Acres

1.44Lot Size

62,656sqftPrice per Unit

$240,208

Price per Sqft$200

Water CompanyHelix Water District

ElectricSDGE

APN#499-181-11-00,499-181-18-00

3 BR, 1.5 BA1250sqft 12 2 BR, 1.5 BA

1150sqft

Assumable LoanBalance: $2,861,299Rate: 4.17%

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• 40 parking spots

• Wood frame construction

• Composition Roof

• Garden like landscaping with walkways and mature trees

• Income producing laundry room

• Common picnic area

• Electricity individually metered

• 25% of interior units remodeled within the last 3 years

P R O P E R T Y F E A T U R E S

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C o n c e p t u a l R e n d e r i n g

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Hilltop Apartments is an excellent value add opportunity in the up and coming neighborhood of Lemon Grove. The property features 6 stand alone buildings, each containing 4 units, nestled among mature trees and parklike landscaping with walkways throughout. Units are rented under market value due the the condition of the exterior of the building, but with some cosmetic upgrades there is a clear cut opportunity to significantly raise rents and maximize this property’s earning potential.

Hilltop Apartments consists of 24 townhome style apartments with a good unit mix of 2 and 3 bedrooms. The floorplans are functional and inviting with all of the common living space downstairs including a dedicated half bathroom and all of the bedrooms upstairs. Each unit is individually metered for electrical. Property features onsite income producing laundry room, maintenance storage area, and large common picnic area.

The property itself is perched on a hillside, tucked away off a side street but adjacent to a moderately trafficked street for signage and advertising purposes. It sits elevated above the main street away from any noise disturbance. Very close to the 94 and 125 freeways and the Lemon Grove Trolley Depot as well as shopping and gas stations. Lemon Grove has seen an uptick in redevelopment as rents continue to rise in the region.

Don’t miss the opportunity to own this hidden gem in one of San Diego’s hottest rental markets!

M o r e d e t a i l s

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P R O P E R T Y I N F O R M A T I O N

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R E N T R O L L

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Please contact Dan Recob for moreinformation or to submit an offer.

Dan Recob(619) 606-1137

drecob@sbmigroup.comDRE#: 01944926