1386-1390 Oakdale Ave - Apartments FOR SALE


El Cajon, CA 92021
$4,800,000 USD
415-250-4947
1386-1390 Oakdale Ave, El Cajon, CA for Sale
$4,800,000 USD
Apartments - FOR SALE
1/6
null | 5.18% Cap Rate

1386-1390 Oakdale Ave
El Cajon, CA 92021


HIGHLIGHTS

  • Market 6.38% Cap Rate & 9 GRM
  • New Roofs and Solar Panels
  • 1982 Construction With 31 Parking Spaces
  • Potential For 4-8 ADUs

OVERVIEW

The Oakdale Apartments are a 17-unit apartment complex that consists of two structures totaling 14,756 square feet built in 1982 and situated on a 37,370 square foot lot in the strong rental market of El Cajon. The unit mix consists of one 4 bedroom / 2 bathroom unit, fifteen 2 bedroom / 1 bathroom units, and one 1 bedroom / 1 bathroom unit. The complex features 31 off-street surface parking spaces, solar panels, and the potential for 4 to 8 ADUs. Buyer to verify. The spacious units feature AC wall units, ceiling fans, electric stoves, dishwashers, microwaves, and garbage disposals. The two structures were re-roofed in 2022 and 2023. Solar Panels were installed in 2022 and there was re-routing of the plumbing in 2017. The property is located in a desirable El Cajon residential area with convenient access to schools and freeways. The nearby I-8 runs towards La Mesa and the SDSU College Area to the West and the I-67 runs north towards Santee and Lakeside. The average household income exceeds $85,000 in a 3-mile radius with an average family size of 3 members per household. The property is in close proximity to national health and consumer stores including VONS, Rite-Aid, CVS and North Park Produce as well as walkable to numerous quick-service restaurants, 24 Hour Fitness and schools along El Cajon Boulevard. El Cajon is located in East San Diego County and is bordered by Santee, Spring Valley, and La Mesa. It has the I-8 freeway as its main artery to the coast and downtown San Diego. El Cajon is a strong apartment rental market with low vacancies. El Cajon experienced high growth after World War II and presently growth is more moderate and steadier. Guided by prudent and fiscally responsible civic leadership, the city has weathered its rapid growth period with a balanced economy and a governmental structure that offers full municipal services. In 1976, a new civic center was opened to serve the citizens of El Cajon, lending added luster to the historic corners of Main and Magnolia. The most recent additions to this area are the new Headquarters Fire Station and the Neighborhood Center on Lexington and Douglas Avenues as well as the new stores and restaurants at the intersection of South Magnolia Avenue and Main Street. El Cajon, a suburb of San Diego, is nestled in a valley and surrounded by mountainous terrain, the city is nicknamed “The Box” due to its secluded atmosphere. Located 17 miles east of Downtown San Diego, El Cajon is an ideal choice for commuters. Residents have easy access to public bus routes, Interstate 8, and Highways 125 and 52. There are so many shopping, dining, and entertainment options as well. Residents live near Mission Trails Regional Park and Harry Griffin Park, so outdoor adventure is always around the corner. Locals can shop the 170 stores at Parkway Plaza, watch the annual Air Show San Diego event at Gillespie Field, try their luck at the Sycuan Casino, or catch some air at Kennedy Skate Park. Residents appreciate the community events in Downtown El Cajon, such as the weekly Cajun Classic Cruise, the summertime Dinner and a Concert Series, the annual Haunt Fest, America on Main, and the Mother Goose Parade. DO NOT WALK ON THE PROPERTY OR DISTURB TENANTS.

FOR SALE DETAILS

PRICE

$4,800,000 USD

PRICE/SF

$295 USD /SF

# OF UNITS

17

PRICE/UNIT

$282,353

CAP RATE

5.18%

% LEASED

94%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Oakdale Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2000

PARKING SPACES

31

LAND DETAILS

LAND ACRES

0.62 AC

LAND SF

27,007 SF

ZONING

R3

APN/PARCEL ID

489-122-29

ASK ABOUT THIS PROPERTY

Benn VogelsangNorthmarqMore Info
415-250-4947

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Benn VogelsangNorthmarqMore Info
415-250-4947

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.