Seller's Agent in 2025
Christina Labowicz
ACI Apartments
(858) 876-5701
1 in this area
30 Total Sales
3280 Olive St Lemon Grove, CA 91945
4
Beds
3
Baths
64,000
Sq Ft
2.11
Acres
Highlights
- Heated Pool
- 4-minute walk to Lemon Grove Depot
- Landscaped
- 91,735 Sq Ft lot
- Community Barbecue Grill
- 3-minute walk to Treganza Heritage Park
About This Home
As of October 2025Introducing 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.
Last Agent to Sell the Property
ACI Apartments License #02055851 Listed on: 07/15/2025
Property Details
Home Type
- Multi-Family
Lot Details
- 2.11 Acre Lot
- Landscaped
Home Design
Interior Spaces
- 4 Bedrooms
- 64,000 Sq Ft Home
- 2-Story Property
Parking
- 80 Parking Spaces
- Parking Available
Pool
- Heated Pool
Utilities
- Cooling System Mounted To A Wall/Window
- Heating System Mounted To A Wall or Window
Listing and Financial Details
- Total Actual Rent $93,627
Community Details
Recreation
- Community Spa
Additional Features
- 64 Units
- Community Barbecue Grill
- Operating Expense $489,881
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 10/24/2025 10/24/25 | Sold | $14,250,000 | -10.9% | $223 / Sq Ft |
| 07/31/2025 07/31/25 | Pending | -- | -- | -- |
| 07/15/2025 07/15/25 | For Sale | $15,995,000 | -- | $250 / Sq Ft |
Source: San Diego MLS
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $117,907 | $6,412,763 | $1,837,175 | $4,575,588 |
| 2024 | $117,907 | $6,287,023 | $1,801,152 | $4,485,871 |
| 2023 | $115,753 | $6,163,749 | $1,765,836 | $4,397,913 |
| 2022 | $115,325 | $6,042,892 | $1,731,212 | $4,311,680 |
| 2021 | $114,221 | $5,924,405 | $1,697,267 | $4,227,138 |
| 2020 | $61,738 | $1,681,393 | $291,514 | $1,389,879 |
| 2019 | $60,621 | $1,648,426 | $285,799 | $1,362,627 |
| 2018 | $59,076 | $1,616,105 | $280,196 | $1,335,909 |
| 2017 | $150 | $1,584,417 | $274,702 | $1,309,715 |
| 2016 | $55,057 | $1,553,351 | $269,316 | $1,284,035 |
| 2015 | $54,930 | $1,530,019 | $265,271 | $1,264,748 |
| 2014 | $53,554 | $1,500,049 | $260,075 | $1,239,974 |
Source: Public Records
Agents Affiliated with this Home
-
Christina Labowicz
-
Corey McHenry
Buyer's Agent in 2025
Corey McHenry
David Santistevan
(619) 565-0179
1 in this area
29 Total Sales
Map
Source: San Diego MLS
MLS Number: 250033469
APN: 480-104-06-00
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