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209 Millar

209 Millar Ave, El Cajon, CA 92020, USA

Sold

$938,000

2021.06.10

Drone Video

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.

Contact Agent

Maxim Delbecq

(858) 333-7701

DRE #01964069

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