Description

The sale is contingent on a 15-day Notice of Proposed Action to the heirs of the estate and their consent or lack of objection, pursuant to California Probate Code Sections 10587–10591. 1. The seller is the probate administrator. 2. Any personal property conveyed is without warranty. 3. This sale is AS-IS. All reports are provided for disclosure purposes only. The seller will not make any repairs. The Imperial Terrace Apartments is a 28-unit garden-style apartment community located just a few miles from downtown San Diego. This gated complex consists of five two-story buildings on a 23,958 SF (.55-acre) flag-shaped lot. Built in 1984 and renovated in 2012, the property has been well maintained under professional management. There is immediate upside in rents, with comparable nearby updated units achieving rates approximately 15% higher. With a desirable unit mix of mostly two-bedroom units, the property appeals to families with young children. Several elementary, middle, and high schools are located nearby. In addition, residents benefit from numerous shopping options, including several grocery stores and a Walmart Supercenter just a short drive away. Tenants also enjoy the convenience of multiple public transportation lines and easy access to the 805 and 5 freeways. 9 Of the 2BR units are converted 1BR with a den. The den was converted to a bedroom with no built in closet. The 1 BR unit shows on title as a legal unit. Buyer to confirm that this is a legal dwelling unit.