Seller's Agent in 2023
Gary Kaufman
South Coast Commercial, Inc.
(760) 814-0114
1 in this area
10 Total Sales
9760 Marilla Dr Lakeside, CA 92040
2
Beds
3
Baths
25,920
Sq Ft
1.26
Acres
Highlights
- Fitness Center
- Heated Pool
- Clubhouse
- Santana High School Rated A-
- 54,885 Sq Ft lot
- Community Barbecue Grill
About This Home
As of October 2023PRICE 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.
Last Agent to Sell the Property
South Coast Commercial, Inc. License #01816761 Listed on: 05/22/2023
Property Details
Home Type
- Multi-Family
Lot Details
- 1.26 Acre Lot
- Wood Fence
- Landscaped
Home Design
Interior Spaces
- 2 Bedrooms
- 25,920 Sq Ft Home
- 2-Story Property
- Vinyl Flooring
Parking
- 82 Parking Spaces
- 11 Carport Spaces
- Parking Available
Additional Features
- Heated Pool
- Number of ADU Units: 36
- Cooling System Mounted To A Wall/Window
Community Details
Overview
- 3 Buildings
- 54 Units
Amenities
- Community Barbecue Grill
- Clubhouse
Recreation
- Fitness Center
Building Details
- Operating Expense $292,810
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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 |
|---|---|---|---|---|
| 10/10/2023 10/10/23 | Sold | $9,850,000 | -14.3% | $380 / Sq Ft |
| 09/14/2023 09/14/23 | Pending | -- | -- | -- |
| 09/01/2023 09/01/23 | Price Changed | $11,500,000 | -6.5% | $444 / Sq Ft |
| 06/23/2023 06/23/23 | Price Changed | $12,300,000 | -2.4% | $475 / Sq Ft |
| 05/23/2023 05/23/23 | For Sale | $12,600,000 | -- | $486 / 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 | $145,154 | $10,034,964 | $3,978,000 | $6,056,964 |
| 2024 | $145,154 | $9,838,200 | $3,900,000 | $5,938,200 |
| 2023 | $111,768 | $7,276,983 | $2,844,571 | $4,432,412 |
| 2022 | $109,006 | $7,134,298 | $2,788,796 | $4,345,502 |
| 2021 | $107,847 | $6,994,411 | $2,734,114 | $4,260,297 |
| 2020 | $103,544 | $6,922,693 | $2,706,080 | $4,216,613 |
| 2019 | $101,440 | $6,786,955 | $2,653,020 | $4,133,935 |
| 2018 | $99,241 | $6,653,878 | $2,601,000 | $4,052,878 |
| 2017 | $820 | $6,523,410 | $2,550,000 | $3,973,410 |
| 2016 | $92,304 | $6,395,500 | $2,500,000 | $3,895,500 |
| 2015 | $74,147 | $4,946,903 | $1,886,963 | $3,059,940 |
| 2014 | $71,853 | $4,843,784 | $1,805,967 | $3,037,817 |
Source: Public Records
Agents Affiliated with this Home
-
Gary Kaufman
-
Cody Evans
Buyer's Agent in 2023
Cody Evans
South Coast Commercial, Inc.
(858) 729-3094
1 in this area
31 Total Sales
Map
Source: San Diego MLS
MLS Number: 230009610
APN: 382-210-14-00
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