4032 N Bonita St. N, Spring Valley, CA 91977

About this commercial property

Superior unit mix of one-2 bed/1.5 bath detached house and eight-2 bed/one bath apartments. *There is an additional non-permitted one bed/one bath unit below the house. Built in 1950. Almost all units have been renovated upon turnover. Seller has done about $220k of renovations with a new roof on the detached house and interior upgrades. Laundry room with owned newer Speed Queen Quantum Gold top of the line washer/dryers. Density bonus law of 2018 grants the right of owners of multifamily assets to convert non-permitted residential space to permitted. Local jurisdiction, San Diego County, has 60 days to approve the conversion. That means relatively easy recognition or legalization of a non-permitted unit. Part of a 6 asset portfolio, all of which are available individually.

Listing description from the March 2021 sale, as reported to CRMLS.

Sale history

$2,210,000

Sold March 2021 · listed $2,275,000, on market February 2021 · MLS #210002621 · Source: CRMLS

Listing Agent: Terry Moore · Listing Office: Apartment Consultants, Inc. · Contact: 619-299-3000 · Bought with: Alvaro Virissimo · Triple Advantage Real Estate

$1,303,500

Sold October 2014 · listed $1,336,500, on market August 2014 · MLS #140044649 · Source: CRMLS

Listing Agent: Timothy Foley · Listing Office: Tim Foley Real Estate · Contact: 619-300-2844 · Bought with: Terry Moore · Apartment Consultants, Inc.

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