Brokerage
Brokerage
209 Millar
209 Millar Ave, El Cajon, CA 92020, USA
Sold
$938,000
2021.06.10
Property Type
Multifamily
Units
4
SqFt
2,508
Price
$938,000
Price/Unit
$234,500
Year Built
'55/'79
Market
El Cajon
Price/SF
$374
Cap Rate
5.66%
GRM
11.84
Unit Mix
(2) 2+1, (2) 1+1
Property Description
*FINANCIALS ARE PRO-FORMA - CURRENT RENTS ARE SIGNIFICANTLY BELOW MARKET*. Value-add 4plex in central El Cajon. Minutes to downtown El Cajon, transit center, restaurants, and retail. Quiet, family-friendly neighborhood near major freeways. (2) 2bed+1bath (roughly 750 SF), (2) 1bed+1bath units (roughly 500 SF). (8) off-street parking spaces. Roughly 45% upside in rents. Units are in mostly original condition with some minor upgrades. Separately metered for all utilities. Common-area coin-op. laundry. (2) rear storage rooms. Fenced front and rear yard areas with natural grass. Ready for further renovations. Resurfaced parking area and exterior painting completed in 2020 ($30K+ in total upgrades). All tenants on month-month leases.