209 Millar

El Cajon, CA 92020

Sold

$938,000

2021.06.10

1/25

Property Description

*FINANCIALS ARE PRO-FORMA - CURRENT RENTS ARE SIGNIFICANTLY BELOW MARKET*. Value-add 4plex in central El Cajon. Minutes to downtown El Cajon, transit center, restaurants, and retail. Quiet, family-friendly neighborhood near major freeways. (2) 2bed+1bath (roughly 750 SF), (2) 1bed+1bath units (roughly 500 SF). (8) off-street parking spaces. Roughly 45% upside in rents. Units are in mostly original condition with some minor upgrades. Separately metered for all utilities. Common-area coin-op. laundry. (2) rear storage rooms. Fenced front and rear yard areas with natural grass. Ready for further renovations. Resurfaced parking area and exterior painting completed in 2020 ($30K+ in total upgrades). All tenants on month-month leases.

Property Details

Property Type

Multifamily

Units

4

SqFt

2,508

Unit Mix

Year Built

(2) 2+1, (2) 1+1

'55/'79

Price

$938,000

Price/Unit

$234,500

Price/SF

GRM

$374

11.84

Cap Rate

5.66%

Property Location

El Cajon

Contact Agent

Maxim Delbecq

858.333.7701

DRE # 01964069

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