Documents
Attributes
| Year Built | 1975 |
| Building Area |
|
| Land Area |
|
| Number of units | 6 |
Property Description
913 Grand Ave is a unique 6 unit property located on a .17 acre lot in Spring Valley. The community is located east of Downtown, bordering the Sweet Valley Reservoir and San Diego National Wildlife Refuge. Residents enjoy access to on-site gated parking.
Investment Highlights
- Value Add Opportunity
- 913 Grand Ave represents an attractive value add opportunity. Rents are currently estimated at 43% below market rents. This provides new ownership with the opportunity to immediately create value through renovation and marking rents to market.
- High Demand Rental Market
- Spring Valley currently has a vacancy rate of 2.5%. Vacancy has stayed under 5.0% for the past 9 years and is projected to stay sub 3.0%, reflecting the high rental demand in the market.
- Continued Rent Growth
- Average rent in Spring Valley grew 4.1% to $1,556 in 2020. Average rent in Spring Valley is projected to surpass $1,600 in 2021.
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