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Multifamily

Broadway Estates

1477 Broadway, El Cajon, CA 92021

Listing Price: $5,400,000

Cap Rate
4.86%
Number of Units
16
GRM
13.07
Price/Unit
$337,500
Price/Gross SF
$396.83
Gross SF
13,608

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire Broadway Estates, a 16-unit multifamily investment property located at 1477 Broadway, El Cajon, California.

Built in 1986, Broadway Estates offers exclusively spacious two-bedroom floor plans, each with two bathrooms and in-unit stackable laundry machines. Furthermore, the property offers desirable amenities including ample garage and surface parking, a spacious courtyard, private patios and balconies, and a swimming pool. Current ownership has invested significant capital into the property, with work completed since 2021 including new pool fencing, new patio fencing, a repaved concrete driveway, as well as a resurfaced pool and pool deck.

Broadway Estates benefits from its optimal El Cajon location, in close proximity to an abundance of local area amenities. The property is situated within one mile of Madison Elementary School, Montgomery Middle School, and Granite Hills High School. Additionally, the property is located near shops and restaurants along 2nd Street and Main Street, two major thoroughfares in the area. Furthermore, Broadway Estates is located just over two miles from Parkway Plaza, one of the premier shopping destinations in the area with over 1.3 million square feet of retail, dining, and entertainment space.

Given the premier El Cajon location, the property offers an investor the ability to capture quality tenants seeking a convenient location with access to a wide variety of area amenities. This overall demand for well-located apartments will be a key driver in the continued growth at Broadway Estates.

Investment Highlights

  • First Time on Market Since Purchased from the Original Developer in 1986
  • Offers Exclusively Two-Bed/Two-Bath Floor Plans with Private Patios & Balconies
  • Spacious Common Courtyard with a Swimming Pool
  • Units Feature Stackable In-Unit Laundry Machines that are Provided by the Owner at No Additional Cost
  • Ample Garage & Surface Parking: 25 Total Spaces
  • Situated Near an Abundance of Retailers & Restaurants Located on Broadway, 2nd Street, & Main Street
  • Just Over 2 Miles from Parkway Plaza, One of the Premier Shopping Destinations in the Area with Over 1.3 Million Square Feet of Retail, Dining, & Entertainment Space
  • Easy Access to the Plethora of Nature Trails Surrounding El Cajon

Exclusively Listed By

Financing By

Multifamily

Broadway Estates

Listing Price: $5,400,000

Cap Rate
4.86%
Number of Units
16
GRM
13.07
Price/Unit
$337,500
Price/Gross SF
$396.83
Gross SF
13,608

Investment Highlights

  • First Time on Market Since Purchased from the Original Developer in 1986
  • Offers Exclusively Two-Bed/Two-Bath Floor Plans with Private Patios & Balconies
  • Spacious Common Courtyard with a Swimming Pool
  • Units Feature Stackable In-Unit Laundry Machines that are Provided by the Owner at No Additional Cost
  • Ample Garage & Surface Parking: 25 Total Spaces
  • Situated Near an Abundance of Retailers & Restaurants Located on Broadway, 2nd Street, & Main Street
  • Just Over 2 Miles from Parkway Plaza, One of the Premier Shopping Destinations in the Area with Over 1.3 Million Square Feet of Retail, Dining, & Entertainment Space
  • Easy Access to the Plethora of Nature Trails Surrounding El Cajon

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is pleased to present the opportunity to acquire Broadway Estates, a 16-unit multifamily investment property located at 1477 Broadway, El Cajon, California. Built in 1986, Broadway Estates offers exclusively spacious two-bedroom floor plans, each with two bathrooms and in-unit stackable laundry machines. Furthermore, the property offers desirable amenities including ample garage and surface parking, a spacious courtyard, private patios and balconies, and a swimming pool. Current ownership has invested significant capital into the property, with work completed since 2021 including new pool fencing, new patio fencing, a repaved concrete driveway, as well as a resurfaced pool and pool deck. Broadway Estates benefits from its optimal El Cajon location, in close proximity to an abundance of local area amenities. The property is situated within one mile of Madison Elementary School, Montgomery Middle School, and Granite Hills High School. Additionally, the property is located near shops and restaurants along 2nd Street and Main Street, two major thoroughfares in the area. Furthermore, Broadway Estates is located just over two miles from Parkway Plaza, one of the premier shopping destinations in the area with over 1.3 million square feet of retail, dining, and entertainment space. Given the premier El Cajon location, the property offers an investor the ability to capture quality tenants seeking a convenient location with access to a wide variety of area amenities. This overall demand for well-located apartments will be a key driver in the continued growth at Broadway Estates.

Exclusively Listed By

Financing By

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