NOT LISTED FOR SALE

1940 Valley Rim Rd El Cajon, CA 92019

Granite Hills Neighborhood

Estimated Value: $717,000 - $1,315,546

6 Beds
4 Baths
2,800 Sq Ft
$384/Sq Ft Est. Value

Last Sold May 16, 2023

Last sale price $1,150,000 $411 Per Sq Ft

Est. 8% decrease in value since last sale

Current estimated payment $6,985/month

22 Days on Market

Highlights

  • Partially Fenced Property
  • Granite Hills High School Rated A-
  • 1-Story Property

About This Home

As of May 2023

PRICED TO CASH FLOW EVEN WITH CRAZY 7%+ INTEREST RATES! We are pleased to present this turnkey gem on a HUGE lot in the serene Granite Hills of El Cajon. You will not find cheaper price per lot square footage for multifamily than with this 1.42 acre estate - $21/SF! The property is basically brand new construction given the heavy renovation for all 3 units and is comprised of a large 1500 SF 4BR 2BA home with a 400 SF attached studio. Sitting below this is a 900 SF 2BR 1BA home. All units have their own solar owned free and clear. Minisplit AC units and laundry hook ups in all. The 4/2 house is rented for $4100 and the 2/1 for $2400. Tenant application ready to go for $1800. On top of this, there is the ability to rent out the 15,000 SF part of the lot at the bottom for RV or boat storage. Seller already has an offer from one RV owner for $100/month is a Buyer wants it. There is the ability to fit 10-20 RVs easily, that is potential for $10-20k extra a year!

Last Agent to Sell the Property

Florian Sighe

The Browar Group License #02072593 Listed on: 01/25/2023

Last Buyer's Agent

Thomas Dinh Nguyen

Golden Century Investments License #01179972

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $14,148

Year Built

  • Built in 1958

Lot Details

  • 1.42

Home Design

  • Composition Roof
  • Stucco Exterior

Additional Features

  • 1-Story Property
  • Partially Fenced Property

Listing and Financial Details

  • Tenant pays for electricity
  • Assessor Parcel Number 508-032-01-00

Community Details

Overview

  • 2 Buildings
  • 3 Units
  • Granite Hills Community

Building Details

  • Net Operating Income $75,501

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$14,148

Year Built

Built in 1958

Lot Details

0

Listing Details

  • Class: 2-4 UNITS
  • Type: Res Income 2-4 Units
  • Market Area: East County
  • Cross Street: La Cresta Rd
  • Neighborhood: Granite Hills
  • Stories: 1 Story
  • Sale Price List Price: 0.96
  • Total Stories: 1
  • Year Built: 1958
  • Allow Comments Review: Yes
  • Internet Address Field: Full Address
  • Internet Syndication Y N: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily

Exterior Features

  • Exterior Material: Stucco
  • Fencing: Partial
  • Roof: Composition

Condo/Co-op/Association

  • Complex Name: Granite Hills
  • Community: EL CAJON

Lot Info

  • Lot Size: 1+ to 2 AC
  • Assessor Parcel Number: 508-032-01-00

Rental Info

  • Tenant Pays: Electricity

Multi Family

  • No. of Units: 3
  • Actual Net Operating Income: 75501
  • Annual Expense Actual: 23439
  • Gross Rent Multiplier Actual: 12.5
  • Gross Sched Income Actual: 102000
  • Gross Sched Income Projected: 102000
  • Number Of Buildings: 2
  • Number Of Units With Cooling: 3
  • Number Of Units With Dishwashers: 2
  • Number Of Units With Dryers: 3
  • Number Of Units With Range Oven: 3
  • Number Of Units With Refrigerator: 3
  • Number Of Units With Washers: 3

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Mar 7, 2023
Sold by
Muska Safi
Bought by
Safi Obaidullah
Current Estimated Value
$1,060,372

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$977,500
Interest Rate
6.32%
Mortgage Type
New Conventional

Purchase Details

Closed on
Mar 6, 2023
Sold by
Crypto Is Not A Crime Llc
Bought by
Safi Obaidullah

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$977,500
Interest Rate
6.32%
Mortgage Type
New Conventional

Purchase Details

Closed on
Feb 11, 2021
Sold by
Fiorito Frank and Marital Trust
Bought by
Sdre Homebuyers Holdings Llc

Purchase Details

Closed on
Sep 17, 2020
Sold by
Florito Frank and Declaration Of Tr Of Rodney W
Bought by
Sdre Homebuyers Holdings Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$524,000
Interest Rate
2.9%
Mortgage Type
Commercial

Purchase Details

Closed on
Jun 4, 1986

Purchase Details

Closed on
Sep 28, 1983
Source: Public Records

Range of Values:

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Average Value
Not Available
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

Purchase History

Date Buyer Sale Price Title Company
Safi Obaidullah -- None Listed On Document
Safi Obaidullah $1,150,000 Lawyers Title
Sdre Homebuyers Holdings Llc -- First American Title Company
Sdre Homebuyers Holdings Llc $410,000 First American Title Company
-- $155,000 --
-- $150,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Safi Obaidullah $977,500
Previous Owner Sdre Homebuyers Holdings Llc $608,000
Previous Owner Sdre Homebuyers Holdings Llc $524,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/16/2023 05/16/23 Sold $1,150,000 -4.2% $411 / Sq Ft
02/17/2023 02/17/23 Pending -- -- --
01/25/2023 01/25/23 For Sale $1,199,999 -- $429 / Sq Ft
Source: San Diego MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $14,148 $1,196,460 $624,240 $572,220
2024 $14,148 $1,173,000 $612,000 $561,000
2023 $8,949 $745,497 $327,393 $418,104
2022 $5,817 $481,400 $218,400 $263,000
2021 $3,044 $248,799 $153,109 $95,690
2020 $5,761 $474,300 $275,400 $198,900
2019 $2,916 $236,682 $145,652 $91,030
2018 $2,869 $232,043 $142,797 $89,246
2017 $2,832 $227,495 $139,998 $87,497
2016 $2,719 $223,035 $137,253 $85,782
2015 $2,706 $219,686 $135,192 $84,494
2014 $2,654 $215,383 $132,544 $82,839
Source: Public Records

Agents Affiliated with this Home

  • Florian Sighe

    Seller's Agent in 2023

    Florian Sighe

    The Browar Group

    (619) 894-3030

    1 in this area

    51 Total Sales

    Section Image

  • T

    Buyer's Agent in 2023

    Thomas Dinh Nguyen

    Golden Century Investments

  • Steven Bryie

    Buyer's Agent in 2023

    Steven Bryie

    ERA Ranch & Sea Realty

    (760) 815-4060

    1 in this area

    43 Total Sales

    Section Image
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Map

Source: San Diego MLS

MLS Number: 230001570

San Diego MLS

APN: 508-032-01

California San Diego County El Cajon 92019 Granite Hills

1940 Valley Rim Rd, El Cajon, CA

This home is located at 1940 Valley Rim Rd, El Cajon, CA 92019 since 25 January 2023 and is currently estimated at $1,074,637, approximately $383 per square foot. This property was built in 1958. 1940 Valley Rim Rd is a home located in San Diego County with nearby schools including Madison Avenue Elementary School, Montgomery Middle School, and Granite Hills High School.

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