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$4,700,000
Est. payment /mo
22 Beds
20 Baths
13,162 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Com-Res Income
Listing Status Active
Purchase Type For Sale
Square Footage 13,162 sqft
Price per Sqft $357
MLS Listing ID 260018202
Bedrooms 22
Full Baths 20
Property Sub-Type Com-Res Income
Property Type Com-Res Income
Property Description
Northwinds Apartments is a 20-unit garden community at 340 Orlando Street in El Cajon, fully gated and built around a lush, meticulously maintained central courtyard. The property is 100% occupied with long resident tenure, averaging nearly four and a half years, and offers 18 one bedroom homes at 550 square feet and two two bedroom homes at 750 square feet, each with a private patio and generous storage. Eleven garages, nine with direct courtyard access, and ample additional gated parking serve the community. Built in 1977 and well maintained since, every unit shows in strong condition with quartz or granite countertops, and finish levels leave room for a moderate value-add program on turns. Central water heaters were replaced within the last five to six years. Gross rents sit roughly 11% below market, giving the next owner a clear path to income growth on an already stabilized asset in one of San Diego County's tightest rental submarkets.
Location
State CA
County San Diego
Area East County
Interior
Fireplace No
Exterior
View Y/N No
Total Parking Spaces 33
Building
Story 2
Others
Senior Community No
Tax ID 489-140-47
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Listed by Erik M Anderson, DRE#01991182 Newmark of Southern California
Nearby School & Business
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Glen Henderson
Broker Associate | CA BRE #01384181
Broker Associate CA BRE #01384181
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