Seller's Agent in 2024
Matt Robinson
MD Real Estate, Inc
(858) 361-3159
1 in this area
13 Total Sales
3420 Bancroft Dr Spring Valley, CA 91977
4
Beds
2
Baths
3,630
Sq Ft
10,454
Sq Ft
About This Home
As of August 2024The property at 3420 Bancroft Drive is comprised of 5 units located in Spring Valley, California. A 35-40% upside in rental income is projected after the completion of renovations. The property was built in 1989 and consists of all 2-bedroom/1-bath units that are approximately 726 SF (3,630 total SF) on a large 10,360 SF lot. Additionally, the property features private yards, balconies, patios, a concrete driveway, and eight parking spaces. Featuring an on-site laundry facility that yields additional income, the property is further enhanced by a front-facing landscape design, a pitched roof, and the recent installation of new AC units. The property layout also allows for the addition of a large sixth unit with an ADU replacing the existing tuck under parking. A value-add opportunity is presented through the implementation of RUBS, allowing tenants to pay a portion of the utilities cost. The City of Spring Valley is considered one of the strongest rental markets in East San Diego County with great demand for apartment rentals. Historical occupancy in this sub-market is estimated to be approximately 97%-100% and rental rates continue to rise. This neighborhood offers excellent access to the Interstate 94, Interstate 125, and Interstate 8 freeways, which connect to major employment centers in the greater San Diego area. Please do not communicate with or disturb any of the residents. Unit square footage is estimated based on the number provided by title services. Buyer to verify on their own.
Last Agent to Sell the Property
MD Real Estate, Inc License #01491108 Listed on: 07/09/2024
Property Details
Home Type
- Multi-Family
Lot Details
- 10,360 Sq Ft Lot
- Wood Fence
Home Design
- Composition Roof
Interior Spaces
- 4 Bedrooms
- 3,630 Sq Ft Home
- 2-Story Property
Parking
- 8 Parking Spaces
- Parking Available
Additional Features
- Number of ADU Units: 4
- Central Heating and Cooling System
Listing and Financial Details
- Total Actual Rent $6,715
Community Details
Overview
- 5 Units
Building Details
- 5 Leased Units
- Operating Expense $43,150
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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 |
|---|---|---|---|---|
| 08/01/2024 08/01/24 | Sold | $1,265,000 | +1.2% | $348 / Sq Ft |
| 07/19/2024 07/19/24 | Pending | -- | -- | -- |
| 07/09/2024 07/09/24 | For Sale | $1,250,000 | -- | $344 / 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 | $7,327 | $1,265,000 | $800,000 | $465,000 |
| 2024 | $7,327 | $409,808 | $152,735 | $257,073 |
| 2023 | $7,061 | $401,774 | $149,741 | $252,033 |
| 2022 | $6,887 | $393,897 | $146,805 | $247,092 |
| 2021 | $6,856 | $386,175 | $143,927 | $242,248 |
| 2020 | $6,537 | $382,217 | $142,452 | $239,765 |
| 2019 | $6,438 | $374,723 | $139,659 | $235,064 |
| 2018 | $6,147 | $367,376 | $136,921 | $230,455 |
| 2017 | $5,907 | $360,174 | $134,237 | $225,937 |
| 2016 | $5,619 | $353,112 | $131,605 | $221,507 |
| 2015 | $5,570 | $347,809 | $129,629 | $218,180 |
| 2014 | $5,490 | $340,997 | $127,090 | $213,907 |
Source: Public Records
Agents Affiliated with this Home
-
Matt Robinson
Map
Source: San Diego MLS
MLS Number: 240015706
APN: 503-100-01-00
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