765 3rd Avenue
Chula Vista, CA 91910
Est. P&I payment: $43922.21/mo
Description for 765 3rd Avenue, Chula Vista, CA 91910
Property Highlights; True Value Add Asset Upon Leasing Vacant Space. Conservative ProForma CAP Rate of 8.25 % / Competitive Offering Actual CAP Rate of 6.12 %, Huge Upside Upon Leasing Vacant Space, Medical and/or Dental Office Suites are Permitted, All Units have separate HVAC and Electrical Meters, Steel Construction Building, Newly Renovated Offices With High Ceilings, Covered Secure Parking Structure and a Total Parking Ratio of 3.00/1,000 Sq. Ft. + Street Parking, Rental Comparables Illustrate a 90 % Occupancy Area, Pride Of Ownership, Absolute Turn Key Financeable Asset.
Owner User Option with SBA Financing at 10% Down may be available.
The Olvera Plaza is a three story Class A office building, strategically located in the heart of Downtown Chula Vista, CA. This all steel 1990 construction building with beautiful window lines totals 42,290 Sq. Ft. and is positioned on a 1.22 acre corner lot. The property is equipped with two elevators, a sprinkler system, ample on site and street parking along with private, covered keypad entry parking garage for tenants.
Location Highlights; AAA Location in Chula Vista, California the second largest city in the San Diego metropolitan area, and the seventh largest city in Southern California. The property is strategically located in the heart of Downtown Chula Vista, blocks away from the Superior Court Building, City Hall and Police Department. The population of Chula Vista was 243,916 as of the 2010 census.
My Notes for MLS #IV17012398
- Building Status: Existing
- Condo Area Units: Square Feet
- Land Use: Office
- Max Total Area Units: Square Feet
- Min Total Area Units: Square Feet
- Number Of Buildings: 1
- Number Of Units Total: 3
- Office Class: A
- Property SubType: Office
- Property Type: Commercial Sale
- Year Built: 1990
- Year Built Source: Assessor
- Construction Materials: Steel
- Heating YN: 1
- Heating: Central Furnace
- Security Features: Automatic Gate,Carbon Monoxide Detector(s),Fire and Smoke Detection System,Fire Sprinklers
- Water Source: Public
- CapRate: 7.52
- Expense Year: 2016
- Gross Scheduled Income: 1,327,380
- Investment Property YN: 1
- Price Per SqFt: 271.93
- Total Expenses: 308,273
- Anchor Co-Tenants: Government tenants
- Building Area Total: 42,290
- Building Area Units: Square Feet
- Days On Market: 391
- Lot Size Source: Assessor
- Special Listing Conditions: Standard
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Directions to 765 3rd Avenue, Chula Vista, CA 91910
Located on the corner of 3rd Avenue & Kearney Street, across from the USPS building.
Listing information for 765 3rd Avenue, Chula Vista, CA 91910 was graciously provided by our friends at the listing brokerage, LE INVESTMENT GROUP and by listing agent LE ALBERT DRE# 01468313
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Last Updated 02/17/2018 at 2:34pm