NOT LISTED FOR SALE

1372-78 E Madison Ave El Cajon, CA 92021

8 Beds
4 Baths
3,272 Sq Ft
0.36 Acres

Last Sold March 30, 2022

Last sale price $1,250,000 $382 Per Sq Ft

2 Days on Market

Highlights

  • 1-Story Property
  • Property is Fully Fenced
  • Level Lot

About This Home

As of March 2022

Value range $1.25M-1.35M. Well maintained, great condition, great location. 4 units each have 2 bed, 1 bath, 1 car garage, plus 2 additional parking spots in a highly desirable rental area. One level. Lots of upgrades in kitchens and baths. Upgraded dual pane windows throughout. Upgraded Insulated Garage doors, New roof and insulation in 2016, Ceiling fans with lights in bedrooms and living rooms, Iron screen doors, Wall mounted A/C units, Washer and dryer hook ups in each garage. Common area in front yard and each unit has its own private back yard. This is a great opportunity for an investment in one of the strongest rental markets in the County. Walk everywhere, shopping, restaurants, schools, parks, public transportation. Owner pays water and trash. Water heater in each unit. Most popcorn removed. Long term tenants paying subpar rents. Location, Location, Location.

Last Agent to Sell the Property

Dana Horne

Dana Horne Realty License #00773028 Listed on: 02/15/2022

Last Buyer's Agent

Eric Comer

Eric D. Comer, Broker License #00842230

Property Details

Home Type

  • Multi-Family

Year Built

  • 1960

Lot Details

  • 0.36 Acre Lot
  • Property is Fully Fenced
  • Level Lot

Home Design

  • Composition Roof
  • Stucco Exterior

Interior Spaces

  • 1-Story Property

Utilities

  • Cooling System Mounted To A Wall/Window
  • Gravity Heating System
  • Heating System Uses Natural Gas
  • Separate Water Meter
  • Gas Water Heater

Listing and Financial Details

  • Tenant pays for electricity, gas/propane, hot water
  • Assessor Parcel Number 489-123-62-00

Community Details

Overview

  • 4 Units
  • Bostonia Acres Community

Building Details

  • Net Operating Income $50,173

Property Details

Home Type

Multi-Family

Year Built

1960

Lot Details

0

Listing Details

  • Class: 2-4 UNITS
  • Market Area: East County
  • Cross Street: N. Second St
  • Neighborhood: El Cajon
  • Supplement: Walk everywhere, shopping, restaurants, schools, parks, public transportation. Owner pays water and trash. Water heater in each unit. Most popcorn removed. Long term tenants paying subpar rents. Location, Location, Location.
  • LP / Sq Ft: 15.66
  • Stories: 1 Story
  • Sale Price List Price: 0.83
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1960

Exterior Features

  • Boat Facilities: No/Unknown
  • Exterior Material: Stucco
  • Fencing: Full
  • Roof: Composition

Utilities

  • Cooling: Wall/Window
  • Sewer/Septic: Sewer Connected
  • Water: Meter on Property
  • Water Heater Type: Gas
  • Heat Equipment: Wall/Gravity

Condo/Co-op/Association

  • Complex Name: Bostonia Acres
  • Community: EL CAJON

Lot Info

  • Lot Size: .25 to .5 AC
  • Topography: Level
  • Zoning: R-3:RESTRI
  • Assessor Parcel Number: 489-123-62-00
  • Estimated Lot Sq Ft: 15472

Rental Info

  • Tenant Pays: Electricity, Gas/Propane, Hot Water

Multi Family

  • No. of Units: 4
  • Actual Net Operating Income: 50173
  • Gross Rent Multiplier Actual: 21.0
  • Gross Rent Multiplier Projected: 14.0
  • Number Of Buildings: 1
  • Number Of Units With Cooling: 4
  • Number Of Units With Garage: 4
  • Number Of Units With Patios: 4
  • Number Of Units With Range Oven: 4
  • Number Of Units With Refrigerator: 4
  • Other Income Actual: 550
  • Other Income Projected: 550.0

Range of Values:

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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 List to Sale Price per Sq Ft
03/30/2022 03/30/22 Sold $1,250,000 -16.7% $382 / Sq Ft
02/18/2022 02/18/22 Pending -- -- --
02/18/2022 02/18/22 Price Changed $1,500,000 +11.1% $458 / Sq Ft
02/15/2022 02/15/22 For Sale $1,350,000 -- $413 / Sq Ft
Source: San Diego MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Dana Horne

    Seller's Agent in 2022

    Dana Horne

    Dana Horne Realty

    (858) 945-3004

    78 Total Sales

    Dana Horne
    Section Image
  • Eric Comer

    Buyer's Agent in 2022

    Eric Comer

    Eric D. Comer, Broker

    (858) 231-4683

    51 Total Sales

    Eric Comer
    Section Image
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Map

Source: San Diego MLS

MLS Number: 220003349

San Diego MLS
California San Diego County El Cajon 92021

1372-78 E Madison Ave, El Cajon, CA

Not Listed for Sale

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