NOT LISTED FOR SALE

1004-38 Coleen Ct El Cajon, CA 92021

10 Beds
4 Baths
-- Sq Ft
-- Built

Last Sold October 09, 2023

Last sale price $1,420,000

4 Days on Market

Highlights

  • Property Fronts a Bay or Harbor
  • Cross Fenced
  • Gravity Heating System
  • Granite Hills High School Rated A-
  • Level Lot
  • 1-Story Property

About This Home

As of October 2023

First time on the market! 1004-1038 Coleen Ct offers the rare chance to own four detached homes on one large lot in the heart of El Cajon. With a strong mix of two (3 bed/1 bath) homes and two (2 bed/1 bath) homes. Each unit is separately metered for water, and with buyer verification there is a possibility for a condo map split. The investment is a pro forma 6.9% cap rate, a testament to the significant upside potential offered at the subject property. This is an opportunity for an owner-occupied buyer, traditional investor, and 1031 exchange candidate alike.

Last Agent to Sell the Property

Brendan Flynn

South Coast Commercial, Inc. License #01933302 Listed on: 09/20/2023

South Coast Commercial, Inc.

Last Buyer's Agent

Sinan Zakaria

Capital Realty Group License #01948642

Property Details

Home Type

  • Multi-Family

Lot Details

  • Property Fronts a Bay or Harbor
  • Cross Fenced
  • Level Lot

Home Design

  • Composition Roof
  • Stone Exterior Construction

Interior Spaces

  • 1-Story Property

Utilities

  • Gravity Heating System
  • Separate Water Meter

Listing and Financial Details

  • Tenant pays for water, electricity
  • Assessor Parcel Number 507-270-30-00

Community Details

Overview

  • 4 Buildings
  • 4 Units

Building Details

  • Net Operating Income $45,784

Property Details

Home Type

Multi-Family

Lot Details

0

Listing Details

  • Class: 2-4 UNITS
  • Type: Res Income 2-4 Units
  • Market Area: East County
  • Cross Street: Broadway
  • Neighborhood: Bostonia
  • LP / Sq Ft: 14.53
  • Stories: 1 Story
  • Sale Price List Price: 1.01
  • Total Stories: 1
  • Year Built: 9999
  • Allow Comments Review: No
  • Internet Address Field: No Address
  • Internet Syndication Y N: No
  • Prkng Non Garage Spac U1: 1
  • Prkng Non Garage Spac U2: 1
  • Prkng Non Garage Spac U3: 1
  • Prkng Non Garage Spac U4: 1
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Exterior Material: Stone
  • Fencing: Cross Fencing
  • Frontage: Bay
  • Roof: Composition

Utilities

  • Water: Meter on Property
  • Heat Equipment: Wall/Gravity

Condo/Co-op/Association

  • Community: EL CAJON

Lot Info

  • Lot Size: .25 to .5 AC
  • Topography: Level
  • Assessor Parcel Number: 507-270-30-00

Rental Info

  • Tenant Pays: Water, Electricity

Multi Family

  • No. of Units: 4
  • Actual Net Operating Income: 45784
  • Annual Expense Actual: 33080
  • Annual Expense Projected: 33080
  • Gross Rent Multiplier Actual: 18.2
  • Gross Rent Multiplier Projected: 10.9
  • Gross Sched Income Actual: 76800
  • Gross Sched Income Projected: 128400
  • Number Of Buildings: 4
  • Number Of Units With Garage: 2
  • Number Of Units With Patios: 4
  • Number Of Units With Range Oven: 4
  • Number Of Units With Refrigerator: 4

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/09/2023 10/09/23 Sold $1,420,000 +1.4% --
09/25/2023 09/25/23 Pending -- -- --
09/20/2023 09/20/23 For Sale $1,400,000 -- --
Source: San Diego MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Brendan Flynn

    Seller's Agent in 2023

    Brendan Flynn

    South Coast Commercial, Inc.

    (339) 222-3361

    40 Total Sales

    Brendan Flynn
    Section Image

  • S

    Buyer's Agent in 2023

    Sinan Zakaria

    Capital Realty Group

    Section Image
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Map

Source: San Diego MLS

MLS Number: 230018412

San Diego MLS
California San Diego County El Cajon 92021

1004-38 Coleen Ct, El Cajon, CA

This home is located at 1004-38 Coleen Ct, El Cajon, CA 92021 since 20 September 2023. 1004-38 Coleen Ct is a home located in San Diego County with nearby schools including Bostonia Elementary School, W.D. Hall Elementary School, and Greenfield Middle School.

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