NOT LISTED FOR SALE

1140 & 1146 E Lexington Ave El Cajon, CA 92019

El Cajon Area
5 Beds
2 Baths
10,572 Sq Ft
0.32 Acre Lot

Sale Details

Date Sold: November 4, 2024

Last sale price $3,685,000 $349 Per Sq Ft

113 Days on Market

About This Home

As of November 2024

12 Turn Key Units with all of the Major Capital Improvements Completed. Current Owner recently installed and paid for Solar Panels eliminating most electric bills. In addition the roofs, windows, hot water heaters, parking gate, exterior paint have all been updated within the past couple years. All the interiors have been renovated in some fashion over the past 5-7 years. Rents are approximately 12% below market so with all the heavy lifting completed the new owner should be able to continue and raise rents in what is considered a very stable rental market.

Last Agent to Sell the Property

Tom McCartin

Marcus & Millichap License #01427348 Listed on: 07/10/2024

Last Buyer's Agent

Tom McCartin

Marcus & Millichap License #01427348 Listed on: 07/10/2024

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Property Details

Home Type

  • Multi-Family

Lot Details

  • 13,900 Sq Ft Lot
  • No Landscaping

Parking

  • 13 Parking Spaces

Home Design

Interior Spaces

  • 5 Bedrooms
  • 10,572 Sq Ft Home
  • 2-Story Property
  • Vinyl Flooring

Additional Features

  • Solar owned by seller
  • Number of ADU Units: 8
  • Cooling System Mounted To A Wall/Window

Listing and Financial Details

  • Total Actual Rent $25,245

Community Details

Overview

  • 2 Buildings
  • 12 Units

Building Details

  • 12 Leased Units
  • Operating Expense $95,284

Property Details

Home Type

Multi-Family

Lot Details

0.32 Acres

Listing Details

  • Property Type: Residential Income
  • Stories: 2
  • Property Sub Type: Com-Res Income
  • CapRate: 5.15
  • Co List Office Mls Id: 62951
  • Directions: 8 Freeway, exit Jamacha South, Right on Lexington
  • Living Area: 10572.0
  • FeedTypes: IDX
  • RFModificationTimestamp: 2025-01-31T01:41:40Z
  • FullAddress: 1140 & 1146 E Lexington Ave
  • NumofLeasedApartments: 12
  • SDMLS_NumofADUUnits: 8.0
  • Special Features: VirtualTour

Interior Features

  • Total Bedrooms: 5
  • Flooring: Vinyl

Exterior Features

  • Construction Type: Metal Fence, No Landscaping, Solar Owned

Garage/Parking

  • Total Parking Spaces: 13.0

Utilities

  • Cooling: Wall/Window

Lot Info

  • Zoning: R3 Multipl
  • Lot Size Sq Ft: 13900.0

Multi Family

  • Number Of Buildings: 2
  • Number Of Units Total: 12
  • Annual Operating Expense: 95284.0
  • Total Actual Rent: 25245.0

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
11/04/2024 11/04/24 Sold $3,685,000 -6.7% $349 / Sq Ft
07/10/2024 07/10/24 For Sale $3,950,000 -- $374 / Sq Ft
Source: San Diego MLS

Agents Affiliated with this Home

  • Tom McCartin Real Estate Agent - Marcus & Millichap

    Seller's Agent in 2024

    Tom McCartin

    Marcus & Millichap

    (858) 362-9376

    28 Total Sales

    Tom McCartin
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Map

Source: San Diego MLS

MLS Number: 240015800

San Diego MLS
California San Diego County El Cajon 92019

1140 & 1146 E Lexington Ave, El Cajon, CA

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