5710 Olive Hill RdBonsall, CA 92003

  • Residential income properties
  • 6,268 SF
For Sale
$3,500,000 View listing

Property Details for 5710 Olive Hill Rd

Year built
1950
Lot size
8.19 AC
Property size (Sq ft)
6,268 SF
Zone code
R-1:SINGLE FAM-RES
Property type
Residential income properties
Property subtype
Other apartment buildings
APN
126-050-39-00
APU
1260503900

Description

This exceptional investment opportunity presents a 7-unit multifamily portfolio situated on a sprawling 8.19-acre lot in Bonsall, California. The property, located at 5710 Olive Hill Rd, 92003, consists of seven single-story buildings, each averaging approximately 900 square feet of rentable space, totaling 6,268 square feet. Currently operating at 100% occupancy with month-to-month tenants, this portfolio offers immediate rental upside due to below-market rents. The property includes a warehouse storage facility, adding to its income-generating potential. The current zoning, Rural Residential (RR), permits various uses including single-family residences, schools (with minor use permit), group care facilities, clinics, and recreational uses (with a major use permit). The property boasts a current cap rate of 2.76%, with a pro-forma cap rate projected at 4.60%, highlighting significant value-add potential. This redevelopment opportunity is further enhanced by the high average home sales prices exceeding $1 million in the immediate vicinity. The property's convenient location offers easy access to Interstate 15 and Highway 76, and is within close proximity to Bonsall Elementary School and the Golf Club of California. The asking price is $3,500,000, representing a price per unit of $500,000. This is a 1031 exchange eligible property with APN 126-050-39. The property was built in 1950. This is a Class C property.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,731,317
    6.5%
    $1,598,139
    7%
    $1,483,986
  • Comparable approach

    Method
    Valuation
    Relative Method
    $1,600,191
    Geo Method
    $3,419,529
  • Alternative Use

    Use
    Valuation
    Residential
    $1,598,139
    Hospitality
    $1,463,887
    Educational
    $1,217,936
    Medical
    $1,259,823
    Retail
    $1,894,568
5710 Olive Hill Rd, Bonsall, California

Location Insight

City
Bonsall
County
San Diego
State
California
Latitude
33.292
Longitude
-117.234
CBSA code
41740
CBSA name
SAN DIEGO-CARLSBAD-SAN MARCOS, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$8,510
$339,771
$446,617
$786,388
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