621-637 Grape St - Apartments FOR SALE


El Cajon, CA 92021
$2,250,000 USD
858-248-1222
621-637 Grape St, El Cajon, CA for Sale
$2,250,000 USD
Apartments - FOR SALE
1/6
null | 4.81% Cap Rate

621-637 Grape St
El Cajon, CA 92021


HIGHLIGHTS

  • True Value-Add Opportunity - Immediate Rental Upside
  • Additional Income Potential by Implementation of a Utility Billing Program
  • Ideal Unit Mix with 55% Two-Bedrooms Units
  • 15 On-Site Surface Level Parking Spaces
  • Shared Laundry Facility Onsite

OVERVIEW

CBRE is pleased to present 621 Grape Street, a well-maintained 9-unit multifamily property with significant in-place rental upside located in the heart of El Cajon in East San Diego County. Constructed in 1987, this well-maintained property offers a compelling investment opportunity with significant rental upside potential in a high-demand suburban market. Comprised of two separate buildings with a strong parking ratio and a strategic transit friendly location, 621 Grape Street attracts a reliable and sticky tenant base due to its proximity to educational institutions, employment centers, and recreational amenities. The property is comprised of four (4) one-bedroom/one-bathroom units, three (3) two bedroom/one-bathroom units, and two (2) two bedroom/two bathroom units which all feature various levels of upgrades. Rents are well below market given their current renovated condition. A new owner can also implement a utility billing program to further enhance income.

FOR SALE DETAILS

PRICE

$2,250,000 USD

PRICE/SF

$375 USD /SF

# OF UNITS

9

PRICE/UNIT

$250,000

CAP RATE

4.81%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1987

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.41 AC

LAND SF

17,860 SF

ZONING

R3A88

APN/PARCEL ID

511-012-27

ASK ABOUT THIS PROPERTY

Nate PepperCBREMore Info
858-248-1222

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Nate PepperCBREMore Info
858-248-1222

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