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1219 Persimmon Ave

El Cajon, CA 92021
  • $10,500,000
  • STATUS: ACTIVE
  • ON SITE: 255 Days
  • ID#: 230011250
UPDATED: 166 min ago
$10,500,000
  • 2
    BEDS
  • 0.89
    ACRES
  • 2
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

We are pleased to present 1219 Persimmon Avenue, a charming 46-unit multifamily community located in El Cajon, California. Built in 1990, this well-maintained asset consists of (45) 516 SF One Bedroom / One Bath units & (1) 600 SF One Bedroom / One Bath permitted ADU. All second-floor units feature taller vaulted ceilings for a spacious open feel. *The property is restricted to senior tenants (62+). There are no income-related restrictions currently in place however if someone would like to take advantage of tax credit incentive programs there is opportunity if leasing units to lower income tenants.

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San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2024 San Diego MLS, Inc. Licensed in the state of California.
www.sellsandiego.com/homes/140539546
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1219 Persimmon Ave El Cajon, CA 92021

  • Price: $10,500,000
  • Status: ACTIVE
  • On Site: 255 Days
  • Updated: 166 min ago
  • ID#: 230011250
2
Beds
2
Baths
0
½ Baths
0.89
Acres
Neighborhood:
El Cajon (92021)
County:
San Diego
Area:
El Cajon (92021)
Property Description
We are pleased to present 1219 Persimmon Avenue, a charming 46-unit multifamily community located in El Cajon, California. Built in 1990, this well-maintained asset consists of (45) 516 SF One Bedroom / One Bath units & (1) 600 SF One Bedroom / One Bath permitted ADU. All second-floor units feature taller vaulted ceilings for a spacious open feel. *The property is restricted to senior tenants (62+). There are no income-related restrictions currently in place however if someone would like to take advantage of tax credit incentive programs there is opportunity if leasing units to lower income tenants.
Exterior Features

Construction Frame Parking Spaces Parking Spaces Total 50 Roof Composition

Interior Features

Cooling Wall/Window Sq Ft Of Improvement 23802 Stories 2 Story Unit Furnished1 No Unit Furnished2 No

Property Features

Actual Gross Scheduled Income 653580.0 Actual Operating Expense 307842 Assumable Finance 4800000 Buildings 1 Existing Financing Other/Remarks Gross Equity 5700000 Gross Multiplier 16.1 Have 46 Clean Units w/ upside Leased Apartments 46 Mandatory Remarks None Known Market Area East County Monthly Rent Total 51165 Motive Want Cash Out Other Income Amount 3300 Other Income Source Rubs Present Loan 4800000 Projected Cap Rate 6.01 Projected Cash On Cash 8.1 Projected Gross Multiplier 11 Projected Gross Scheduled Inc 952200 Sq Ft Source Buyer to VerifyTax Record Unit Number1 45 Unit Number2 1 Unit Rent Total1 49365 Unit Rent Total2 1800 Unit Rent1 1097 Unit Rent2 1800 Unit Type Apartment

San Diego MLS logo Listing provided courtesy of Jeff Diller of South Coast Commercial, Inc.: 714-474-4495. Listing information © 2024 San Diego MLS Inc. Source: SDMLS
San Diego MLS logo This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2024 San Diego MLS, Inc. Licensed in the state of California.
 
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