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Key Details
Sold Price $4,400,000
Property Type Condo
Sub Type Apartment
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 210030879
Sold Date 04/20/22
Lot Size 0.418 Acres
Acres 0.42
Property Description
This is a true value-add investment opportunity in the highly coveted center of El Cajon city. Offered to the market for the first time in 11 years, this prominently located, mid-century building features a secured courtyard, as well as asigend parking. The excellent unit mix consists of FOUR 2bedrooms 1.5 bathrooms FOUR 2bedrooms 1bathroom and TEN 1bedroom 1bathroom with extra income from the laundry. Roof was replaced 10 years ago and the parking surface was replaced a year ago. As an investment, the Property offers investors an incredible value-add opportunity. With rents approximately 26% below projected market rents, an investor can implement a strategic interior and exterior renovation program to capture the strong market rents being achieved for luxury rentals in the immediate neighborhood.
Location
State CA
County San Diego
Area El Cajon (92020)
Zoning COMMERCIAL
Interior
Heating Wall
Cooling Wall/Window
Flooring Vinyl, Other/Remarks
Laundry Owned
Exterior
Exterior Feature No Landscaping, Security Bars, Remarks
Parking Features Spaces
Roof Type Composition
Others
Acceptable Financing Cash, Cash to New Loan, Other/Remarks
Listing Terms Cash, Cash to New Loan, Other/Remarks
Financing Cash
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![Julie & Chris Wilhelmy](https://cdn.chime.me/image/fs/user-info/2023218/16/w600_original_eae721e2-9397-4f92-8664-655b390c3a8f.png)
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![San Diego Regional MLS (SDMLS)](https://cdn.chime.me/image/fs/sitebuild/20201029/0/h600_original_226fbb91-8877-476f-b39a-12d8d7333085.png)
Bought with Peggy Khayamian • Bluxen, Inc
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