9062 Kenwood DrSpring Valley, CA 91977

This exceptional 20-unit apartment building presents a compelling investment opportunity in Spring Valley, California. The property, located at 9062 Kenwood Drive, boasts 15,440 square feet of living space across three, two-story buildings situated on a spacious 25,265 square foot lot. Built in 1978, the complex enjoys a 100% occupancy rate, generating a current NOI of $338,320 and a 6.39% cap rate. Pro-forma projections indicate a NOI of $409,767 and a 7.74% cap rate, showcasing significant upside potential. The unit mix comprises four 2-bedroom/2-bathroom, fourteen 2-bedroom/1-bathroom, and two 1-bedroom/1-bathroom units, each priced at $264,750. Residents benefit from 24 gated parking spaces, air conditioning, dishwashers, and patios on ground-floor units. Recent upgrades include plank flooring and stainless-steel appliances. Community amenities include on-site laundry facilities and a BBQ picnic area. The property also features newly improved landscaping and potential for Accessory Dwelling Unit (ADU) development. Spring Valley offers a desirable blend of suburban tranquility and convenient access to downtown San Diego (a 20-minute commute via Highway 94), along with a diverse range of lifestyle options. The community's strong demographics, including a median household income exceeding $65,000 and a median home value of over $400,000, further solidify this investment's attractiveness. The asking price for this stabilized Class C multifamily property is $5,295,000.