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594 Graves Ave

El Cajon, CA 92020
  • $2,995,000
  • STATUS: ACTIVE
  • ON SITE: 23 Days
  • ID#: 240006473
$2,995,000
  • 2
    BEDS
  • 0.46
    ACRES
  • 1
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
County:

School Ratings & Info

Description

594 Graves is a 10 unit apartment complex with a desirable unit mix of 2 bedroom 1 bath units. The property sits on a 19,973 sq. ft. lot in El Cajon. The property has income producing laundry and storage closets onsite and there is still room for exterior upgrades. This apartment makes a great investment property and can reach a CAP rate of 7.2% if stabilized. Current rents range from $1300 to $1750 per month. 6 out of 10 units have been fully renovated and there is a new roof. The exterior of the property has been recently painted.

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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.redtreerealty.com/homes/148939320
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594 Graves Ave El Cajon, CA 92020

  • Price: $2,995,000
  • Status: ACTIVE
  • On Site: 23 Days
  • ID#: 240006473
2
Beds
1
Baths
0
½ Baths
0.46
Acres
Neighborhood:
El Cajon (92020)
County:
San Diego
Area:
El Cajon (92020)
Property Description
594 Graves is a 10 unit apartment complex with a desirable unit mix of 2 bedroom 1 bath units. The property sits on a 19,973 sq. ft. lot in El Cajon. The property has income producing laundry and storage closets onsite and there is still room for exterior upgrades. This apartment makes a great investment property and can reach a CAP rate of 7.2% if stabilized. Current rents range from $1300 to $1750 per month. 6 out of 10 units have been fully renovated and there is a new roof. The exterior of the property has been recently painted.
Exterior Features

Carports 0 Construction Stucco Parking Spaces Parking Spaces Total 20 Roof Composition Units With Garages 0

Interior Features

Cooling Wall/Window Sq Ft Of Improvement 8432 Units With Dishwashers 0 Units With Disposals 0 Units With Drapes 0 Units With Ranges 10 Units With Refrigerators 10

Property Features

Actual Cap Rate 4.0 Actual Gardener Expense 1200 Actual Gas And Electric 3000 Actual Gross Operating Income 190198 Actual Gross Scheduled Income 196080.0 Actual Maintenance Expense 7500 Actual Operating Expense 70169 Actual Pest Control Expense 900 Actual Prop Management 11726 Actual Taxes Expense 34443 Actual Total Expense 70169 Actual Trash Expense 3000 Actual Vacancy And Credit Loss 5882 Assumable Finance 0 Buildings 1 Flood Zone Hazard Unknown Geological Hazard Zone Hazard Unknown Gross Equity 0 Gross Multiplier 15.3 Have n/a Leased Apartments 10 Mandatory Remarks None Known Market Area East County Monthly Rent Total 15900 Motive Want n/a Other Income Amount 440 Other Income Source Lndry/Strg Projected Cap Rate 7.2 Projected Gross Multiplier 10.2 Projected Gross Operating Inc 284365 Projected Gross Scheduled Inc 293160 Projected Net Income 214196 Projected Operating Expense 70169 Projected Vacancy And Credit Loss 8795 Short Sale No Tenant Pays Electric T Tenant Pays Gas T Unit Number1 10 Unit Rent Total1 16340 Unit Rent1 1590 Zoning R-4

San Diego MLS logo Listing provided courtesy of Jason Lee of JLM Real Estate Inc.: 858-336-9688. 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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