USACALemon Grove3280 Olive St
3280 Olive St, Home with 0 bedrooms, 0 bathrooms and 80 parking in Lemon Grove CA | Image 1
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$15,995,000

3280 Olive St, Lemon Grove, CA

Real Estate

For Sale

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0080
  • Key Facts
  • Description
  • Map

Key Facts

Type Mixed Use
Levels Commercial Sale
Size -
Garage No
Maintenance Fees 
Taxes 
Days Active 15
Approx. Age 
MLS® Number 250033469SD

Property Address: 

Average square foot calculated using Size range provided by listing agent.

Description

Introducing the Olive Tree Apartments—a pride-of-ownership, 64-unit multifamily investment offering both immediate income and significant rental upside. Situated on over 2 acres in the heart of Lemon Grove, this well-maintained asset boasts a current GSI of ~$93, 000/month with a projected 38% rental upside. The spacious unit mix features 1BR/1BA (677 SF) and 2BR/1.5BA (833 SF) floor plans. Select interiors have already been upgraded, including a 1-bedroom unit that recently leased at $1, 950 within days—validating the market potential. A detailed 5-year value-add strategy and rent increase schedule are available upon request. Community amenities include gated entry, off-street parking, laundry room, office, grill and a pool & spa—enhancing tenant retention and lifestyle appeal. With a Walk Score of 90, the property is steps from grocery stores, schools, public transit, and minutes to Downtown San Diego. Large-scale properties with remaining upside are increasingly rare in the San Diego market—this is a unique opportunity to acquire both stability and growth in a supply-constrained region.Show Description
MLS® Number250033469SD
Locker
Ensuite LaundryNo
Balcony
Furnished
Laundry Level
Exposure
Exterior
GarageNo
Approx. Age
Stories
Pets
Corp Number

Included in Maintenance Fee

Heat
Hydro
Water
Building Insurance
Condo Taxes
Cable TV
Central Air
Parking Maintenance

Utilities

HeatWall Furnace
A/CWall Window Units
Heating Fuel

Extras

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