Description
This low-density, garden-style community consists of 35 apartment homes spread over more than two acres, offering an attractive unit mix of studios, one-, two-, and three-bedroom floor plans. The property features abundant on-site parking with 54 spaces, including 14 garages, as well as community amenities such as laundry facilities and a leasing office. The asset offers both immediate value-add and long-term development upside. Of the 35 units, 21 remain unrenovated (60% of total units), presenting a significant opportunity to raise rents and achieve an estimated $410 rent premium (24% increase in rental income). Additionally, the large underutilized lot provides the potential to expand the community up to 44 units by right under current zoning, with options to convert garage spaces into Accessory Dwelling Units (ADUs) or additional living areas. Please contact Merrick Matricardi in listing office for link to Confidentiality Agreement for access to OM and due diligence information. 858-369-3085 or merrick.matricardi@kidder.com.
Details
| MLS # | 250029807SD |
|---|---|
| Listing Type | For Sale |
| Style | Mixed Use |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 14 |
| Listing Provided By | Eric D. Comer, Broker | Eric Comer |
Features
| Units | 35 |
|---|---|
| Building(s) | 4 |
Interior
| Heating Yes / No | No |
|---|---|
| Cooling Yes / No | Yes |
Market Activity 92020
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Learn More About This Property
| State | CA |
|---|---|
| County | San Diego |
| City | El Cajon |
| Zip Code | 92020 |
| Area | 92020 El Cajon |
| Listing VS Median (in 92020) | |
Price: $8,750,000 low | high Med: $894,500 On site: 14 low | high Med: 50.000000 | |