2840-2844 Olive Street

Lemon Grove, CA 91945

$1,435,000
Price
9
Beds
6
Baths
3,159 Sq. Ft.
$454 / Sq. Ft.
3,159
Sq. Ft.
$454
per Sq. Ft.

Description

Welcome to this exceptional multi-unit property in Lemon Grove, with a total of four distinct units. Each unit features a private entrance and outdoor living area, fully enclosed by 6-foot vinyl fencing. The property offers six off-street parking spots, with two dedicated spaces per unit. The sale includes a fully permitted, brand-new unit built in 2024, offering 1,109 sq. ft. with three bedrooms and two bathrooms. Additionally, the attach, constructed in 2018, provides 540 sq. ft. with two bedrooms...Welcome to this exceptional multi-unit property in Lemon Grove, with a total of four distinct units. Each unit features a private entrance and outdoor living area, fully enclosed by 6-foot vinyl fencing. The property offers six off-street parking spots, with two dedicated spaces per unit. The sale includes a fully permitted, brand-new unit built in 2024, offering 1,109 sq. ft. with three bedrooms and two bathrooms. Additionally, the attach, constructed in 2018, provides 540 sq. ft. with two bedrooms and one bathroom. The main house, originally built in 1947, has undergone multiple expansions, resulting in a total of 1,460 sq. ft. with all but about 800 sq. ft. being new construction. The unit has 3 bedrooms, 2 bathrooms, a side yard with turf, and a gated front yard. There is also an attached 1 bed & 1 bath with a separate private entrance and kitchenette. Each unit is equipped with HVAC or mini-split systems, natural gas tankless water heaters, natural gas dryer and washer hookups, and natural gas ranges. Two units also feature dishwashers. The roofing for all units was updated in either 2018 or 2024. Upgrades throughout the property include vinyl plank flooring, custom cabinetry, quartz countertops, custom tile in all bathrooms, ceiling fans in all rooms, and electronic door locks. The main house boasts a custom shower with a whirlpool tub, custom closets in all bedrooms, EV readiness, pull-down attic stairs, an attic fan, surround sound, and smart home features. All units have durable Hardy board exteriors. the units are completely independent, accessed via a city-owned alley, while the main house shares one common wall with the 2 bed, 1 bathroom unit. Additional amenities include an RV sewer dump line, pull-down attic stairs for extra storage in the main house, two outdoor patio pergolas, and three storage sheds. The property also features separate electric meters for each unit, with shared water and natural gas, and exterior security cameras for added safety. Turf covers the front and side yards. A significant financial benefit is the potentially assumable FHA loan on the first mortgage, allowing about $527,000 at a 3.188% interest rate, with the loan ending in January 2050. All building plans and permits are available, ensuring compliance and transparency. Located within the Helix High School catchment area, no lottery is required for enrollment.
  1. Listed by Bryan A Mancuso • DRE #01870177 • Brokerage DRE #01878277 • eXp Realty of California, Inc.

Property Details for 2840-2844 Olive Street

Area
91945 - Lemon Grove
Neighborhood
Lemon Grove
Community
LEMON GROVE
View Description
Mountains/Hills
City Postal ID
LEMON GROVE (91945)
Cross Street(s)
Burnel Ave
LISTING UPDATED: 12/20/2024 07:42 AM

Property Details for 2840-2844 Olive Street

StatusActive
MLS #240028507
Days on Market5
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1947
Lot Size0.16 AC / 6,969 SF
CountySan Diego County

Building Information for 2840-2844 Olive Street

Stories2Residences-Year Built1947Building Size-Lot Size0.16 AC / 6,969 SF

Property Information for 2840-2844 Olive Street

Summary Information
Property and Location
  • System ID: 240028507
  • Class: 2-4 UNITS
  • Levels: 2 Story
  • Year Built: 1947
  • Street Number Numeric: 2840
  • Street Name: Olive St
  • Map Coordinates: 1270G7
  • Age Restrictions: N/K
  • Market Area: East County
  • Elementary School: Lemon Grove School Distict
  • Middle School: Lemon Grove School Distict
  • High School: Grossmont Union High School District
  • High School URL: http://www.guhsd.net/
HOA and Fees
  • Home Owner Fees: $0
  • Monthly Total Fees: $0
  • CFD/Mello-Roos Fee: $0
  • Other Fees: $0
Supplement
  • Supplement: the units are completely independent, accessed via a city-owned alley, while the main house shares one common wall with the 2 bed, 1 bathroom unit. Additional amenities include an RV sewer dump line, pull-down attic stairs for extra storage in the main house, two outdoor patio pergolas, and three storage sheds. The property also features separate electric meters for each unit, with shared water and natural gas, and exterior security cameras for added safety. Turf covers the front and side yards. A significant financial benefit is the potentially assumable FHA loan on the first mortgage, allowing about $527,000 at a 3.188% interest rate, with the loan ending in January 2050. All building plans and permits are available, ensuring compliance and transparency. Located within the Helix High School catchment area, no lottery is required for enrollment.
Interior and Exterior Features
Interior Features
  • Num of Units w/Dishwashers: 2
  • Num of Units w/Cooling: 4
  • Cooling: Central Air, Heat Pump
  • Heat Equipment: Forced Air Unit
  • Water Heater Type: Gas
  • Heat Source: Electric, Natural Gas
Exterior Features
  • Exterior: Vinyl
  • Roof: Composition
  • Fencing: Full
  • Security: Eqpt Owned, N/K
Property Information
Property and Assessments
  • Total Stories: 2
  • Entry Only: No
  • Lot Size: 4,000-7,499 SF
  • Lot Size Source: Assessor Record
  • Topography: Slope Gentle
  • Site: Alley Access
  • Complex/Park: N/K
  • Assessors Parcel Num: 480-344-05-00
Utilities
  • Water: Meter on Property
  • Sewer/Septic: Sewer Connected
Multi Family Information
Unit 1
  • Unit Num for Unit 1: 2840
  • Parking Non-Garage Unit 1: Assigned, Uncovered
  • Unit 1 Num of Bedrooms: 3
  • Unit 1 Num of Total Baths: 2
  • Unit 1 Deposit: $3,682
  • Unit 1 Estimated SqFt: 1,310
  • Unit 1 Exclusive Use Yard: Yes
  • Unit 1 Laundry Hook Ups: Yes
  • Unit 1 Occupied: Owner
  • Unit 1 Prkng Garage Space: 0
  • Unit 1 Projected Rent: $4,000
  • Unit 1 Rent Actual: $3,682
Unit 2
  • Unit Num for Unit 2: 2842
  • Parking Non-Garage Unit 2: Assigned, Uncovered
  • Unit 2 Num of Bedrooms: 2
  • Unit 2 Num of Total Baths: 1
  • Unit 2 Deposit: $2,200
  • Unit 2 Estimated SqFt: 540
  • Unit 2 Exclusive Use Yard: Yes
  • Unit 2 Laundry Hook Ups: Yes
  • Unit 2 Occupied: Tenant
  • Unit 2 Prkng Garage Space: 0
  • Unit 2 Projected Rent: $2,500
  • Unit 2 Rent Actual: $2,200
Unit 3
  • Unit Num for Unit 3: 2844
  • Parking Non-Garage Unit 3: Assigned, Uncovered
  • Unit 3 Num of Bedrooms: 3
  • Unit 3 Num of Total Baths: 2
  • Unit 3 Deposit: $3,400
  • Unit 3 Estimated SqFt: 1,109
  • Unit 3 Exclusive Use Yard: Yes
  • Unit 3 Laundry Hook Ups: Yes
  • Unit 3 Occupied: Tenant
  • Unit 3 Prkng Garage Space: 0
  • Unit 3 Projected Rent: $3,600
  • Unit 3 Rent Actual: $3,382
Unit 4
  • Unit Num for Unit 4: 2840 1/2
  • Unit 4 Num of Bedrooms: 1
  • Unit 4 Num of Total Baths: 1
  • Unit 4 Deposit: $1,500
  • Unit 4 Estimated SqFt: 200
  • Unit 4 Exclusive Use Yard: Yes
  • Unit 4 Laundry Hook Ups: Yes
  • Unit 4 Occupied: Owner
  • Unit 4 Projected Rent: $1,550
  • Unit 4 Rent Actual: $1,533
Building Details
  • Heating: Electric, Natural Gas, Forced Air

Property History for 2840-2844 Olive Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 2840-2844 Olive Street

This home is within Grossmont Union High School District.
Rating
School
Type
Grades
Distance
Charter - K to 12
Public - 7 to 8
Public - 9 to 12
Charter - 9 to 12
Rating
School
Distance
Mount Miguel High School
Public9 to 12

Helix High School
Charter9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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2840-2844 Olive Street is a multi-family home for sale in Lemon Grove, CA 91945. This property was listed for sale on July 1, 2024 by eXp Realty of California, Inc., it's currently listed at $1,435,000. This listing's school districts are Grossmont Union High School District, Lemon Grove School District. Nearby schools include The Learning Choice Academy - East County, Lemon Grove Academy For The Sciences And Humanities and Mount Miguel High School. 2840-2844 Olive Street is a 9-bed, 6-bath, 3,159 sqft multi-family home built in 1947.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of eXp Realty of California, Inc., Bryan A Mancuso, DRE #01870177

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