702 R Ave
Description
Epic opportunity to take this turnkey single-story 12-unit gem to the next level! All units are 2br/1ba and have upgraded granite kitchens and baths, 36-inch wide interior doors (handicap-friendly), walk-in closets, newer front doors, and an extra storage unit for each! Utilities paid by the tenants who enjoy a fantastic garden setting on almost an acre of land with ample parking too (18 spaces). Rents were just raised, and as of July 1, 2021 the GSI is $230,800. There is rent control of 5% + CPI (1.8% this year) = 6.8% which is about the same as the market's average annual percentage-increase anyway. Please do not bother the tenants - some of which have been there 10-20 years.
Listing Agent
jim.klinge@compass.comP: (858)-997-3801
Property Details for 702 R Avenue
Property Details for 702 R Avenue
| Status | Sold |
|---|---|
| MLS # | 210018004 |
| Days on Market | 9 |
| Taxes | - |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Commercial-Res Income |
| Year Built | - |
| Lot Size | 0.81 AC / 35,283 SF |
| County | San Diego County |
| Buyer's Agent Compensation | 2.5% |
Location
Sold By Bluxen, Farid Khayamian, DRE #01835318
Building Information for 702 R Avenue
Payment Calculator
$22,310 per month
30 year fixed, 6.845% Interest
$18,338
$3,972
$0
Property Information for 702 R Avenue
- System ID: 210018004
- Class: COMMERCIAL-RES INCOME
- Street Number Numeric: 702
- Street Name: R Avenue
- Market Area: South Bay
- Directions To Property: Take E. 8th St to R Avenue and turn north - it's on the left.
- Supplement: Epic opportunity to take this turnkey single-story 12-unit gem to the next level! All units are 2br/1ba and have upgraded granite kitchens and baths, 36-inch wide interior doors (handicap-friendly), walk-in closets, newer front doors, and an extra storage unit for each! Utilities paid by the tenants who enjoy a fantastic garden setting on almost an acre of land with ample parking too (18 spaces). Rents were just raised, and as of July 1, 2021 the GSI is $230,800. There is rent control of 5% + CPI (1.8% this year) = 6.8% which is about the same as the market's average annual percentage-increase anyway. Please do not bother the tenants - some of which have been there 10-20 years.
- Entry Only: No
- Lot Size: .75 through 1.5 Acres
- Lot Dimensions Approx: 159 x 224
- Assessors Parcel Num: 557-120-40
- Unit Rent: 1550
- Unit Rent Total: $9,300
- Unit 1 Number of Bedrooms: 2
- Unit 1 Number of Bathrooms: 1
- Unit Rent: 1600
- Unit Rent Total: $9,600
- Unit 2 Number of Bedrooms: 2
- Unit 2 Number of Bathrooms: 1
- Age: 44
- Construction: Stucco
- Have: 12 single-level 2br/1bas
- Motive/Want: Cash out
- Parking: Spaces
- Special: Rent Control
- SqFt of Improvement: 10,958
Property History for 702 R Avenue
| Date | Event & Source | Price | Appreciation |
|---|---|---|---|
| Jan 16, 2024 | Withdrawn SDMLS #230004273 | — | |
| Mar 6, 2023 | Listed (Active) SDMLS #230004273 | $5,500 | — |
| Jul 27, 2022 | Withdrawn SDMLS #220013530 | — | |
| May 31, 2022 | Listed (Active) SDMLS #220013530 | $5,900,000 | — |
| Sep 30, 2021 | Sold SDMLS #210018004 | $3,500,000 | — |
| Aug 3, 2021 | Sold (Public Record) Public Record #1472974986 | $3,500,000 | — |
| Jul 7, 2021 | Pending SDMLS #210018004 | — | |
| Jun 25, 2021 | Listed (Active) SDMLS #210018004 | $3,750,000 | — |
| Date | Event & Source | Price |
|---|---|---|
| 01/16/2024 | Withdrawn SDMLS #230004273 | — |
| 03/06/2023 | Listed (Active) SDMLS #230004273 | $5,500 |
| 07/27/2022 | Withdrawn SDMLS #220013530 | — |
| 05/31/2022 | Listed (Active) SDMLS #220013530 | $5,900,000 |
| 09/30/2021 | Sold SDMLS #210018004 | $3,500,000 |
| 08/03/2021 | Sold (Public Record) Public Record #1472974986 | $3,500,000 |
| 07/07/2021 | Pending SDMLS #210018004 | — |
| 06/25/2021 | Listed (Active) SDMLS #210018004 | $3,750,000 |
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 702 R Avenue
Schools near 702 R Avenue
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | K to 6 | |||
| Public - | 7 to 9 | |||
| Public - | 9 to 12 | |||
| Charter - | K to 8 |
Rating | School | Distance |
|---|---|---|
Rancho de la Nacion School PublicK to 6 | ||
Granger Junior High School Public7 to 9 | ||
Sweetwater High School Public9 to 12 | ||
Integrity Charter School CharterK to 8 |
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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Listing Courtesy of Compass, Jim Klinge, DRE #00873197
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