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8858 Olive Ln, Santee, CA 92071
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8858 Olive Ln Santee, CA 92071

$8,250,000
  • -- Beds
  • -- Baths
  • 21,990 Sq.Ft.
For Sale
$8,250,000 Get Pre-Qualified
Map preview of 8858 Olive Ln, Santee, CA 92071

Property Overview: 8858 Olive Ln Santee, CA has -- bedrooms, -- bathrooms, 21,990 living square feet and -- square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: We are pleased to present the Olive Tree Apartments. The Olive Tree Apartments are located at 8858 Olive Lane Santee, CA 92071. This 26-unit apartment community was built in 1979 and sits on a 43,996 square foot lot. The property is comprised of (1) 1bed+1bath unit, & (25) 2bed+2bath units, and 36 surface level parking spaces. The Olive Tree Apartments include a communal BBQ outdoor area, on site laundry, and private balconies or patios for all units. Recent upgrades include but are not limited to a newer roof, parking lot improvements, and outdoor lighting & landscaping. Held long-term by current ownership, the property represents an excellent value add opportunity for astute investors to fix up the units and increase cash flow. The Olive Tree Apartments are less than a mile from local shopping including Mission Gorge Square Shopping Center, Santee Trolley Square, and Santee Town Shopping Center and Trolley Station. This superb location offers tenants the ability to walk to local shopping, dining, and more. This location also offers easy access to main thoroughfares such as Mission Gorge Road and State Route 52.

Listed by Michael Mignosa | BRE #02049221 | The Browar Group
Last checked: 14 minutes ago | Last updated: March 5th, 2024 | Source CRMLS | DOM: 71
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Home details

Lot Sq. Ft
--
HOA Dues
$0/mo
Year built
1979
Garage
--
Property Type:
Multi Family
Status
Active
MLS#
PTP2401214
City
Santee
County
San Diego
Time on Site
89 days
Property Unit Breakdown
Unit Mix Summary
  • Total # of Units: 26
  • Total # of Buildings: 1
Unit Breakdown 1
  • # of Units: 25
  • # of Beds: --
  • # of Baths: --
  • Actual Rent: $48,234
  • Total Rent: --
  • Pro Forma/Market Rent: $65,000
Unit Breakdown 2
  • # of Units: --
  • # of Beds: --
  • # of Baths: --
  • Actual Rent: $1,995
  • Total Rent: --
  • Pro Forma/Market Rent: $2,200
Property Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.4%
  • Gross Rent Multiplier: --
  • Gross Scheduled Income: $610,194
  • Net Operating Income: $364,217
  • Gross Operating Income: --
  • Vacancy Allowance: $18,306
Annual Expense Breakdown
  • Total Operating Expense: $227,671
  • Trash: $7,621
  • Insurance: $18,200

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Property Details for 8858 Olive Ln

Interior Features
Cooling Information
  • No Cooling
Heating Information
  • No Heating
Exterior Features
Exterior Information
  • No Fence
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Parking Spaces: 36
Lot Information
  • Lot Features: Lot Over 40000 Sqft, Near Public Transit
  • Lot Size Source: Public Records
Property Information
  • Total # of Units: 26
  • Parcel Number: 3843302900
  • Entry Level: 1
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: 8858 Olive Lane Santee, CA 92071
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Local Santee Agent

Sale History for 8858 Olive Ln

Last sold on May 13th, 1999

  • March, 2024

  • Mar 4, 2024

    Date

    Active

    CRMLS: PTP2401214

    $8,250,000

    Price

  • May, 1999

  • May 13, 1999

    Date

    Sold (Public Records)

    Public Records

    --

    Price

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Tax History for 8858 Olive Ln

Assessed Value (2020): $2,325,065
Year Land Value Improved Value Assessed Value
2020 $772,153 $1,552,912 $2,325,065

Home Value Compared to the Market

This property vs the competition

8858 Olive Ln is listed 1002.94% higher than the median list price for the city of Santee which has a median list price of $748,000. The median price per/sqft for Santee is $509 and this home is listed at $375.17 per/sqft which puts the price per square foot 26.29% lower than the median price per square foot for the city of Santee.

About 8858 Olive Ln

Detailed summary of property

8858 Olive Ln is a multi family located in Santee, CA 92071 and is currently for sale. This multi family property offers -- bedrooms, -- bathrooms, roughly 21,990 living square feet, and sits on an approximately -- square foot lot. 8858 Olive Ln was first listed on ArdentRealEstateGroup.com on March 4, 2024. The homeowner is currently asking $8,250,000. The median priced home in Santee is $748,000 with a median price per square foot of $509. Based on Ardent Real Estate Group's Santee Market Data, this home is listed 1002.94% higher than the median priced home. Local competing homes currently for sale include 5251 Hollywood Blvd. While the average home in Santee, CA is selling in 73 days, 8858 Olive Ln has a days on market of 71 days. There are currently 125 homes for sale in the Santee real estate market and 79 of them are single family homes while 24 of them are condos and 22 are townhomes. For more information on this home for sale at 8858 Olive Ln Santee, CA 92071 contact Ardent Real Estate Group and we will put you in touch with one of our Santee agents.

Public Facts for 8858 Olive Ln

Public county record property details
Beds
--
Baths
--
Year built
1979
Sq. Ft.
21,990
Lot Size
43,995
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
San Diego
Lot#
5,C
APN
384-330-29-00

The source for these homes facts are from public records.

92071 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$745,000
Median List Price/Sq.Ft.
$509
Median Sold Price
$735,000
Median Sold Price/Sq.Ft.
$530
Total Inventory
126
Median Sale to List Price %
101.38%
Avg Days on Market
13
Loan Type
Conventional (62.5%), FHA (17.5%), VA (7.5%), Cash (7.5%), Other (5%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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