1790-1822 Dayton DrLemon Grove, CA 91945

Property Details for 1790-1822 Dayton Dr

Year built

1995

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 24-unit apartment building, known as Limoncello, presents a compelling value-add investment opportunity in the thriving Lemon Grove, California market. Located at 1790-1822 Dayton Dr, 91945, this property boasts a desirable unit mix of fifteen studios (averaging 290 sq ft) and nine one-bedroom/one-bathroom units (averaging 402 sq ft), totaling 7,794 net rentable square feet. Built in 1995 on a 0.52-acre lot, the property underwent renovations in 2014, resulting in updated units featuring hardwood floors, air conditioning, and private patios or balconies. Residents enjoy convenient amenities including ample off-street parking, on-site laundry facilities, a BBQ area, and a common area garden. The property's location offers easy access to Imperial Avenue and major freeways (94 and 805), while public transportation (MTS Trolley and bus services) is conveniently located within 2 miles. With a current asking price of $5,100,000 ($212,500 per unit and $654.35 per square foot), and a 5.47% cap rate, this property offers significant potential for rental income growth and strong returns. The combination of its desirable location, updated units, and value-add potential makes Limoncello an attractive investment for discerning buyers seeking exposure to San Diego County's robust multifamily market. The property's APN is 577-080-23-00.

Location Insight

City

Lemon Grove

County

San Diego

State

California

Latitude

32.7255

Longitude

-117.03

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