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$9,200,000
54 Beds 42 Baths 260014848 MLS ACTIVE Status
Pleased to present 7645 Pacific Avenue, a 42-unit gated multifamily community built in 1969 and located in the heart of Lemon Grove, CA. The property features a desirable unit mix of 30 one-bedroom/one-bath units and 12 two-bedroom/one-bath units, catering to a broad tenant base in an affordability-driven submarket. The property features a private courtyard pool, gas BBQ area, onsite laundry room with three washer and three dryers and secure gated entry. The asset has benefited from significant capital improvements, reducing near-term deferred maintenance and enhancing operational efficiency. Recent upgrades include a full roof replacement (2011, with warranty through 2031), upgraded electrical subpanels (2023–2024), new exterior paint (2025), extensive fascia board replacement (2024), and complete parking lot resurfacing (2019). Additional improvements include new fencing (2025), updated water heaters (2021 & 2026), and completed SB721 balcony inspections (2023).

7645 Pacific Ave, Lemon Grove

$14,250,000
4 Beds 3 Baths 250033469 MLS CLOSED Status
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.

3280 Olive St, Lemon Grove

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