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512 June Way

El Cajon, CA 92021
  • $7,299,000
  • STATUS: ACTIVE
  • ON SITE: 23 Days
  • ID#: 240009444
$7,299,000
  • 2
    BEDS
  • 0.68
    ACRES
  • 1
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

We are extremely proud to present 512 June Way , a true Turn-Key / Condo Grade 20 Unit investment property located in the heart of downtown El Cajon. This is by far the easiest opportunity for passive income and effortless upside we have seen in a long time. No deferred maintenance and all tenants happily pay on time. The property was completely renovated ( down to the studs ) in 2007 including but not limited to new plumbing and electrical systems, with the intent of condo conversion. Final Condo Map approved and available for new owner to capitalize if desired.

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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/150088623
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512 June Way El Cajon, CA 92021

  • Price: $7,299,000
  • Status: ACTIVE
  • On Site: 23 Days
  • ID#: 240009444
2
Beds
1
Baths
0
½ Baths
0.68
Acres
Neighborhood:
El Cajon (92021)
County:
San Diego
Area:
El Cajon (92021)
Property Description
We are extremely proud to present 512 June Way , a true Turn-Key / Condo Grade 20 Unit investment property located in the heart of downtown El Cajon. This is by far the easiest opportunity for passive income and effortless upside we have seen in a long time. No deferred maintenance and all tenants happily pay on time. The property was completely renovated ( down to the studs ) in 2007 including but not limited to new plumbing and electrical systems, with the intent of condo conversion. Final Condo Map approved and available for new owner to capitalize if desired.
Exterior Features

Construction DrywallFrameStucco Exterior Fully Landscaped Parking Spaces Parking Spaces Total 20

Interior Features

Cooling Wall/Window Floor Coverings Tile Laundry Owned Sq Ft Of Improvement 23577 Stories 2 Story Unit Furnished1 No

Property Features

Actual Cap Rate 5.03 Actual Cash On Cash 4.5 Actual Gross Scheduled Income 563400.0 Actual Operating Expense 179044 Actual Vacancy And Credit Loss 16902 Assumable Finance 3080000 Buildings 2 Complex Features Other/Remarks Existing Financing Other/Remarks Gross Equity 4219000 Gross Multiplier 13 Have 20 Condo Grade Townhomes Mandatory Remarks None Known Market Area East County Monthly Rent Total 46750 Motive Want Cash to 1031 Other Income Actual 2400 Other Income Amount 200 Other Income Source Laundry Present Loan 3080000 Projected Cap Rate 6.14 Projected Cash On Cash 6.4 Projected Gross Multiplier 11.3 Projected Gross Scheduled Inc 646800 Short Sale No Sq Ft Source Tax Record Terms Assumable 1st Unit Number1 20 Unit Rent Total1 46750 Unit Rent1 2338 Unit Type Townhouse Zoning RM-2200

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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The Neuman Team
516 5th Avenue
San Diego CA, 92101