NOT LISTED FOR SALE

1119 E Lexington Ave El Cajon, CA 92019

8 Beds
4 Baths
3,818 Sq Ft
7,612 Sq Ft Lot

Last Sold October 09, 2024

Last sale price $1,425,000 $373 Per Sq Ft

84 Days on Market

Highlights

  • No Units Above
  • Laundry Room
  • Level Lot
  • No HOA
  • Forced Air Heating and Cooling System

About This Home

As of October 2024

Great 4 unit investment property & upside on rental income! Long term tenants that want to stay and room for rent increases. The property has 3 single story units w a 4th unit upstairs with each unit over 950 sq. ft. Each unit has a 1 car garage, one parking spot and share laundry room in back of property. All units are in good condition and offer fireplaces and new AC units. This complex can be sold with the adjoining 4 unit property next door that shares a courtyard together to comprise a total of 8 units! Great location in the 92019 zip code of El Cajon with high rental demand.

Last Agent to Sell the Property

Mike Aon

Realty Executives Dillon License #01300658 Listed on: 05/30/2024

Realty Executives Dillon

Last Buyer's Agent

Mike Aqrawi

San Diego Homes Realty License #01930877

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1964

Lot Details

  • 7,612 Sq Ft Lot
  • No Units Above
  • 1 Common Wall
  • Level Lot

Parking

  • 4 Open Parking Spaces
  • 4 Car Garage
  • Parking Available
  • Single Garage Door
  • Driveway
  • Off-Street Parking

Home Design

  • Apartment
  • Entry on the 1st floor
  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 3,818 Sq Ft Home
  • 2-Story Property
  • Family Room with Fireplace
  • Laundry Room

Kitchen

  • Gas Cooktop
  • Dishwasher
  • Disposal

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 4 Bathrooms

Outdoor Features

  • Exterior Lighting

Utilities

  • Forced Air Heating and Cooling System
  • Floor Furnace
  • Standard Electricity
  • Water Heater

Listing and Financial Details

  • Tenant pays for telephone
  • Tax Lot 03003
  • Tax Tract Number 3951
  • Assessor Parcel Number 4892220500

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Amenities

  • Laundry Facilities

Building Details

  • 4 Leased Units
  • Rent Control
  • 5 Separate Electric Meters
  • 5 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $4,000
  • Trash Expense $900
  • Water Sewer Expense $3,600
  • New Taxes Expense $16,875
  • Operating Expense $25,375
  • Gross Income $103,200
  • Net Operating Income $77,628

Property Details

Home Type

Multi-Family

Year Built

Built in 1964

Lot Details

0

Parking

4

Listing Details

  • Assessments: Yes
  • CapRate: 5.50
  • Property Attached: Yes
  • Road Surface Type: Paved
  • Subdivision Name Other: Concord Park
  • View: No
  • Water Sewer Expenses: 3600.00
  • Zoning: R-3;RESTRICTED MULTIPLE
  • Property Type: Residential Income
  • Parcel Number: 4892220500
  • Year Built: 1964
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: Yes
  • Stories: 2
  • Common Walls: 1 Common Wall, No One Above
  • Appliances: Yes
  • Entry Level: 1
  • Fireplace Features: Family Room
  • Price Per Square Foot: 373.23

Exterior Features

  • Foundation: Concrete Perimeter
  • Fence: No
  • Pool Private: No
  • Roof: Composition
  • Spa: No

Garage/Parking

  • Garage Spaces: 4.00
  • Parking: Yes
  • Parking Features: Driveway, Garage - Single Door, Off Street
  • Total Parking Spaces: 8.00
  • Uncovered Spaces: 4.00

Utilities

  • Heating: Yes
  • Laundry: Yes
  • Appliances: Dishwasher, Disposal, Gas Cooktop, Refrigerator, Water Heater
  • Electric: Standard
  • Heating Type: Central, Floor Furnace, Forced Air
  • Laundry Features: Community
  • Sewer: Public Sewer
  • Trash Expense: 900.00
  • Cooling: Central Air, Electric
  • Cooling: Yes

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Common Interest: Community Apartment
  • Community Features: Curbs, Sidewalks, Street Lights

Lot Info

  • Additional Parcels: No
  • Land Lease: No
  • Lot Features: Level
  • Lot Size Sq Ft: 7612.00
  • Lot Size Acres: 0.1747

Rental Info

  • Tenant Pays: Telephone

Multi Family

  • Gross Income: 103200.00
  • Gross Operating Income: 103200.00
  • Gross Scheduled Income: 103200.00
  • Insurance Expense: 4000.00
  • Lot Size Area: 7612.0000 Square Feet
  • Net Operating Income: 77628.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 5
  • Number Of Separate Water Meters: 1
  • Number Of Units Leased: 4
  • Number Of Units Total: 4
  • Number With Dishwasher: 4
  • Number With Disposal: 4
  • Number With Drapes: 4
  • Number With Range: 4
  • Number With Refrigerator: 4
  • Operating Expense: 25572.00
  • Rent Control: Yes
  • Total Actual Rent: 8600.00
  • Total Expenses: 25375.00

Tax Info

  • New Taxes Expense: 16875.00
  • Tax Lot: 03003
  • Tax Tract Number: 003951

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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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 List to Sale Price per Sq Ft Prior Sale
10/09/2024 10/09/24 Sold $1,425,000 -1.7% $373 / Sq Ft
08/22/2024 08/22/24 Pending -- -- --
07/11/2024 07/11/24 Price Changed $1,450,000 -3.3% $380 / Sq Ft
05/30/2024 05/30/24 For Sale $1,500,000 +167.9% $393 / Sq Ft
10/07/2013 10/07/13 Sold $560,000 0.0% $147 / Sq Ft View Prior Sale
08/16/2013 08/16/13 Pending -- -- --
08/08/2013 08/08/13 For Sale $560,000 -- $147 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: PTP2403123

California Regional Multiple Listing Service (CRMLS)

APN: 489-222-05-00