REQUEST A TOUR
$5,900,000
Est. payment /mo
UPDATED:
11/07/2024 12:18 AM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID 240026176
Property Description
We are pleased to present the “Franklin Ave Apartments,” located at 802-58 Franklin Avenue, a 24-unit multi-family community in Downtown El Cajon. Constructed in 1958, the asset features a unit mix comprised of fourteen (14) one bedroom/one-bathroom units averaging 575 square feet, and ten (10) two-bedroom/one-bathroom units averaging 780 square feet. Existing amenities include spacious common areas, an on-site laundry facility, and ample off-street parking. Significant rental lift can be captured by performing in-unit and community enhancements. The property is conveniently located in the heart of an energetic and thriving historic district, within walking distance to an array of local shopping and dining options, year-round live entertainment, theatre, and festivals. The City of El Cajon is the fifth largest city in San Diego County, with a diverse economic base, regional connectivity across three major highways, local bus services, and MTS trolley lines. One of the most populated areas in the metro, El Cajon contains the largest concentration of apartment inventory in San Diego County. The city is fortified by an inelastic renter base helping sustain a structurally low vacancy rate. The increase in rental demand is driven by a shifting interest to larger units and more green space, away from density and coastal areas.
Location
State CA
County San Diego
Area El Cajon (92020)
Building
Story 2
Others
Space Rent $451,707
Read Less Info
Listed by Austin Huffman • Marcus & Millichap
MORTGAGE CALCULATOR
Payment
Schedule
Your mortgage payments over 30 years will add up to $0.
Get Pre-Approved
in Minutes!
By registering you agree to our Terms of Service & Privacy Policy. Consent is not a condition of buying a property, goods, or services.