Marti Kilby, CRS

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1322 N 1st Street
OTHER El Cajon 92021

$4,100,000
2-4 Units 19,908 sq. ft.

Main Photo: EL CAJON Property for sale: 1322 N 1st Street
Photo 1: EL CAJON Property for sale: 1322 N 1st Street
Photo 2: EL CAJON Property for sale: 1322 N 1st Street
Photo 3: EL CAJON Property for sale: 1322 N 1st Street
Photo 4: EL CAJON Property for sale: 1322 N 1st Street
Photo 5: EL CAJON Property for sale: 1322 N 1st Street
Status:
Active
Prop. Type:
2-4 Units
MLS® Num:
304801311
1322 North 1st Street is a turnkey 13-unit apartment building in El Cajon, California. The asset is an attractively renovated 1987 construction with a coveted mix of 11 two-bed/one-and-one-half-bath and two three-bed/two-bath units. All units boast desirable townhome-style floor plans, in-unit laundry, central air and heating, and private patios. The property also features gated access, 21 surface parking spaces, and a shared back patio for tenants enjoyment. The property is well-located proximate to the 8 and 67 freeways, a short five-minute drive to the Parkway Plaza shopping mall, and a nine-minute drive from the site of a future Amazon warehouse that is anticipated to bring a significant 300+ jobs to the area. 1322 North 1st Street has solid rents in place and offers a new investor seven percent potential upside. Furthermore, a RUBS program is in place to recoup utility costs, minimize owner expenses, and maximize the potential return on this excellent investment property in a growing market.
Total Floor Area:
19,908 sq. ft.
Lot Size:
19,906.92 sq. ft.
Number of Buildings:
1
Number of Units:
13
Stories:
2 Story
Total Stories:
2
Market Area:
OTHER
Community:
EL CAJON
County:
San Diego
Mello Roos Fee:
12277.0
Annual expense actual:
99181
Cap Rate.:
4.35
Gross Rent Multiplier:
14.89
Gross scheduled income:
275400
Unit Number for Unit 1:
1
Bedrooms for Unit 1:
2
Number of bathrooms for Unit 1:
2
Total Rent for Unit 1:
1741.0
Unit Number for Unit 2:
2
Bedrooms for Unit 2:
3
Number of bathrooms for Unit 2:
2
Total Rent for Unit 2:
1900.0
1322 North 1st Street is a turnkey 13-unit apartment building in El Cajon, California. The asset is an attractively renovated 1987 construction with a coveted mix of 11 two-bed/one-and-one-half-bath and two three-bed/two-bath units. All units boast desirable townhome-style floor plans, in-unit laundry, central air and heating, and private patios. The property also features gated access, 21 surface parking spaces, and a shared back patio for tenants enjoyment. The property is well-located proximate to the 8 and 67 freeways, a short five-minute drive to the Parkway Plaza shopping mall, and a nine-minute drive from the site of a future Amazon warehouse that is anticipated to bring a significant 300+ jobs to the area. 1322 North 1st Street has solid rents in place and offers a new investor seven percent potential upside. Furthermore, a RUBS program is in place to recoup utility costs, minimize owner expenses, and maximize the potential return on this excellent investment property in a growing market.
Directions:
North of Greenfield
Pool:
N/K
Listing Type:
Exclusive Right (R)
Terms:
Cash
Parcel Number:
4840123100
  • Photo 1: EL CAJON Property for sale: 1322 N 1st Street
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Listed by Steven M. Bogoyevac, Broker
Data was last updated October 26, 2021 at 11:10 AM (UTC)
Area Statistics
Listings on market:
2,394
Avg list price:
$950,000
Min list price:
$80,000
Max list price:
$20,000,000
Avg days on market:
72
Min days on market:
1
Max days on market:
2,778
Avg price per sq.ft.:
$139.53
These statistics are generated based on the current listing's property type and located in OTHER. Average values are derived using median calculations.

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