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$5,150,000
36 Beds ⋅ 32 Baths ⋅ 260014851 MLS ⋅ ACTIVE Status
Pleased to present Marilla Crest Apartments, an 18-unit multifamily investment opportunity located in the desirable Lakeside submarket of San Diego County. Built in 1989, the property features a highly attractive unit mix consisting of four (4) two-bedroom/one-bath units and fourteen (14) two-bedroom/two-bath units, catering to residents seeking larger floor plans in an established East County rental market. Situated on an expansive ±28,700-square-foot lot, the property also offers 27 parking spaces and seven on-site storage units. The asset has benefited from significant capital improvements that reduce deferred maintenance and support long-term operational stability. Recent upgrades include full roof replacements with long-term warranties, complete plumbing re-piping with PEX, upgraded seismic gas valves, new exterior paint, fascia board replacement, and asphalt improvements throughout the property. These improvements position the asset as a well-maintained investment with limited near-term capital expenditure requirements.

9659-69 Marilla Dr, Lakeside
$6,750,000
240003114 MLS ⋅ PENDING Status
Currently a contract yard, pricing based on a quick close. Current tenants provide incredible established rental income. Property zoned VR-7.3 with the potential of up to 77 lots under current zoning or up to 116+ under state density bonus. Preliminary yield studies, soils report and phase 1 available upon request.

11436 El Nopal, Unit 000, Lakeside
$9,850,000
2 Beds ⋅ 3 Baths ⋅ 230009610 MLS ⋅ CLOSED Status
PRICE REDUCTION. SELLER HAS FOUND THEIR UPLEG. The Magnolia Terrace apartment community represents a solid value add investment opportunity for acquisition in the San Diego County apartment market. Built in 1974, the 54-unit property rests on a 1.26 acre lot and consists of 25,920 square feet of rentable space. The property has a unit mix of 36 studios, 16 one bedroom one bath units, and 2 two-bedroom one bath units. Current ownership also has an in-place RUBS program to recapture the cost of water usage while tenants pay their own electric. Residents enjoy the convenience of onsite laundry (leased equipment) as well as a swimming pool/barbecue area for family gatherings. The spacious parking area has 1 parking space for each unit plus additional spots that some tenants pay extra for, generating additional income for the owner. The property is located just off the 67 freeway affording the residents convenient access to jobs and all that San Diego has to offer. With solid in place income a new owner could renovate units as they turn over and increase rents.

9760 Marilla Dr, Lakeside
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