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150 S Mollison

El Cajon, CA 92020
  • $9,500,000
  • STATUS: ACTIVE
  • ON SITE: 79 Days
  • ID#: 220013208
UPDATED: 148 min ago
$9,500,000
  • 10
    BEDS
  • N/A
    ACRES
  • 5
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

Mollison Gardens Apartments is a 35-unit value add property for sale in the east San Diego submarket of El Cajon. Originally, constructed in 1987, this community offers one, two and three-bedroom floor plans. Community amenities feature a swimming pool, common laundry facility, picnic area with barbecue and 20-single car garages. The property is located south of Interstate 8 and offers easy access to shopping, schools and nearby employment. While the property is well maintained, the majority of units are in original condition. There is opportunity for enhancements that can result in increased rents. Mollison Garden's desirable unit mix of mostly 2-bedroom floor plans, accessibility to local amenities and employment, and value-add potential, makes it a prime investment opportunity.

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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 © 2022 San Diego MLS, Inc. Licensed in the state of California.
www.sellsandiego.com/homes/129255278
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150 S Mollison El Cajon, CA 92020

  • Price: $9,500,000
  • Status: ACTIVE
  • On Site: 79 Days
  • Updated: 148 min ago
  • ID#: 220013208
10
Beds
5
Baths
0
½ Baths
N/A
Acres
Neighborhood:
El Cajon (92020)
County:
San Diego
Area:
El Cajon (92020)
Property Description
Mollison Gardens Apartments is a 35-unit value add property for sale in the east San Diego submarket of El Cajon. Originally, constructed in 1987, this community offers one, two and three-bedroom floor plans. Community amenities feature a swimming pool, common laundry facility, picnic area with barbecue and 20-single car garages. The property is located south of Interstate 8 and offers easy access to shopping, schools and nearby employment. While the property is well maintained, the majority of units are in original condition. There is opportunity for enhancements that can result in increased rents. Mollison Garden's desirable unit mix of mostly 2-bedroom floor plans, accessibility to local amenities and employment, and value-add potential, makes it a prime investment opportunity.
Exterior Features

Parking GaragesSpaces Parking Spaces Total 85

Interior Features

Laundry Owned Sq Ft Of Improvement 29444

Property Features

Actual Gross Scheduled Income 590532.0 Actual Operating Expense 277177 Assumable Finance 0 Buildings 3 Complex Features Bbq Financial Information Source Owner Gross Equity 4300000 Gross Multiplier 15.6 Have 35 Units Mandatory Remarks None Known Market Area East County Motive Want Cash Out Projected Cap Rate 5.24 Projected Gross Multiplier 11.7 Projected Gross Scheduled Inc 787800 Short Sale No Sq Ft Source Buyer To Verify Unit Number1 9 Unit Number2 8 Unit Number3 14 Unit Number4 3 Unit Number5 1 Unit Rent Total1 11165 Unit Rent Total2 11500 Unit Rent Total3 20496 Unit Rent Total4 4200 Unit Rent Total5 1850 Unit Rent1 1241 Unit Rent2 1438 Unit Rent3 1464 Unit Rent4 1400 Unit Rent5 1850 Unit Type Apartment

San Diego MLS logo Listing provided courtesy of Eric D. Comer, Broker. Listing information © 2022 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 © 2022 San Diego MLS, Inc. Licensed in the state of California.
 
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Neuman & Neuman Real Estate Inc.
516 5th Avenue
San Diego CA, 92101