$11,750,000
Price reduced $1,450,000. We are pleased to present Hart Townhomes, a 24-unit townhome community in El Cajon offered by the original developer. - Built 1991, comprehensively renovated 2016 to 2019 - 22 three bedroom homes (1,350 SF) and 2 four bedroom homes (1,550 SF) - Every home: attached duet, two car garage, private yard, fireplace, in-unit laundry - Tentative map contemplating individual townhome sales - 98% historical occupancy with four plus year average tenant tenure - In-place rents approximately 12% below market - Comparable El Cajon townhomes averaged $681,000 over trailing twelve months - Only 22.8% of El Cajon apartments contain three bedroom units; just 2.3% include four bedroom units Stabilized cash flow with embedded mark-to-market upside and condominium disposition optionality.
Listed by Erik Anderson with Newmark of Southern California
MLS Property Type
Commercial Sale
Property Subtype
Mixed Use
Status
Active
MLS Number
260010489SD
Units
24
Lot Size
1.67 acres
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