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Multifamily

1322 N 1st St

1322 N 1st St, El Cajon, CA 92021

Listing Price: $4,100,000

Cap Rate
4.35%
Number of Units
13
Price/Unit
$315,385
Price/Gross SF
$316.16
Gross SF
12,968

Investment Overview

Marcus & Millichap is pleased to present to market 1322 North 1st Street, 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.

Investment Highlights

  • Turnkey Renovated 1987 Construction Apartment Building With 13 Desirable Townhome-Style Units
  • Sought-After Mix of 11 Two-Bed/One-and-One-Half-Bath Units and Two Three-Bed/Two-Bath Units
  • Amenities Include Central Air and Heating, In-Unit Laundry, Private Patios, Gated Access, Surface Parking, and a Shared Back Patio
  • Great Location Proximate to Freeways, Popular Retail, and Less Than a 10-Minute Drive From the Site of a Future Amazon Warehouse, Which is Anticipated to Bring 300-500 Jobs to the Area

Exclusively Listed By

Listing Price: $4,100,000

Cap Rate
4.35%
Number of Units
13
Price/Unit
$315,385
Price/Gross SF
$316.16
Gross SF
12,968

Investment Highlights

  • Turnkey Renovated 1987 Construction Apartment Building With 13 Desirable Townhome-Style Units
  • Sought-After Mix of 11 Two-Bed/One-and-One-Half-Bath Units and Two Three-Bed/Two-Bath Units
  • Amenities Include Central Air and Heating, In-Unit Laundry, Private Patios, Gated Access, Surface Parking, and a Shared Back Patio
  • Great Location Proximate to Freeways, Popular Retail, and Less Than a 10-Minute Drive From the Site of a Future Amazon Warehouse, Which is Anticipated to Bring 300-500 Jobs to the Area

Investment Overview

Marcus & Millichap is pleased to present to market 1322 North 1st Street, 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.

Exclusively Listed By

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