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Key Details
Sold Price $4,100,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 12,968 sqft
Price per Sqft $316
Subdivision El Cajon
MLS Listing ID PW21227369
Sold Date 11/22/21
HOA Y/N No
Year Built 1987
Lot Size 0.457 Acres
Acres 0.457
Property Description
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.
Location
State CA
County San Diego
Area 92021 - El Cajon
Zoning C
Rooms
Ensuite Laundry Inside
Interior
Laundry Location Inside
Fireplace No
Laundry Inside
Exterior
Pool None
Community Features Suburban
Total Parking Spaces 21
Private Pool No
Building
Lot Description RectangularLot
Story 2
Entry Level Two
Sewer PublicSewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 4840123100
Acceptable Financing Cash, CashtoNewLoan
Listing Terms Cash, CashtoNewLoan
Financing Cash
Special Listing Condition Standard
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Bought with Jeff Castellaw • San Diego Apartment Brokers
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