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Multifamily

North Winds Apartments

340 Orlando St, El Cajon, CA 92021

Listing Price: $4,350,000

Cap Rate
4.55%
Number of Units
20
GRM
13.78
Occupancy
97.0%
Price/Unit
$217,500
Price/Gross SF
$330.50
Gross SF
13,162

Investment Overview

Marcus & Millichap is pleased to present for sale North Winds Apartments, a 20-unit multifamily asset located in the city of El Cajon. Constructed in 1977, and recently renovated, this property rests on an approximate 24,829 SF lot with 13,162 rentable SF.

This asset is comprised of 18 one-bedroom/one-bathroom units and 2 two-bedroom/one-bathroom units. Eighteen of the twenty units have been renovated with granite counter tops and vinyl plank flooring. Tenants enjoy a communal BBQ and picnic area in the courtyard, on-site laundry, and ample secure gated parking.

North Winds Apartments offers investors the opportunity to improve operations of this asset through exterior renovations and upgrading the two remaining unrenovated units. Being within walking distance to Sprouts, Walmart Neighborhood Market, and in proximity to Interstate 8, this property is situated for long term appreciation and is centrally located with the investors longevity in mind.

Investment Highlights

  • New Roof Replaced in 2020 Renovated Apartments
  • (2) 100-Gallon Water Tank Heaters Replaced in 2019 & 2020
  • In-Wall Air Conditioning In Every Unit
  • Secure Gated Parking - 11 Single-Car Garages & 21 Surface Spaces
  • Community BBQ & Picnic Area. BBQ Hooked To Gas Line
  • Situated in an Opportunity Zone

Exclusively Listed By

Multifamily

North Winds Apartments

Listing Price: $4,350,000

Cap Rate
4.55%
Number of Units
20
GRM
13.78
Occupancy
97.0%
Price/Unit
$217,500
Price/Gross SF
$330.50
Gross SF
13,162

Investment Highlights

  • New Roof Replaced in 2020 Renovated Apartments
  • (2) 100-Gallon Water Tank Heaters Replaced in 2019 & 2020
  • In-Wall Air Conditioning In Every Unit
  • Secure Gated Parking - 11 Single-Car Garages & 21 Surface Spaces
  • Community BBQ & Picnic Area. BBQ Hooked To Gas Line
  • Situated in an Opportunity Zone

Investment Overview

Marcus & Millichap is pleased to present for sale North Winds Apartments, a 20-unit multifamily asset located in the city of El Cajon. Constructed in 1977, and recently renovated, this property rests on an approximate 24,829 SF lot with 13,162 rentable SF.

This asset is comprised of 18 one-bedroom/one-bathroom units and 2 two-bedroom/one-bathroom units. Eighteen of the twenty units have been renovated with granite counter tops and vinyl plank flooring. Tenants enjoy a communal BBQ and picnic area in the courtyard, on-site laundry, and ample secure gated parking.

North Winds Apartments offers investors the opportunity to improve operations of this asset through exterior renovations and upgrading the two remaining unrenovated units. Being within walking distance to Sprouts, Walmart Neighborhood Market, and in proximity to Interstate 8, this property is situated for long term appreciation and is centrally located with the investors longevity in mind.

Exclusively Listed By

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