NOT LISTED FOR SALE

424 Emerald Ave El Cajon, CA 92020

5 Beds
2 Baths
11,840 Sq Ft
-- Built

Last Sold October 07, 2021

Last sale price $4,142,000 $350 Per Sq Ft

59 Days on Market

About This Home

As of October 2021

424 Emerald Avenue is a 14-unit apartment complex that has been recently renovated. The 11,840 square foot structure was built in 1959 and is situated on a 16,569 square foot lot. The unit mix consists of 3 approximately 950 square foot 3Bd/1Ba units and 11 approximately 825 square foot 2Bd/1Ba units. The secure complex features gated off-street parking, tankless water heaters, and an onsite laundry room. The interiors have new laminate flooring, crown molding, baseboards, drywall, paint/texture, ceiling fans, electrical outlets/covers, A/C, window treatments, electrical subpanels, and common washers and dryers. Exterior improvements include new staircases, vinyl windows, exterior paint, and landscaping. The kitchens and baths have new plywood cabinets, quartz countertops, sinks, toilets, doors and hardware. The bedrooms have new doors/hardware, mirrored closet doors, and balconies. There is an assumable Luther Burbank loan on the property.

Last Agent to Sell the Property

Benn Vogelsang

NorthMarq Multifamily License #01883437 Listed on: 06/17/2021

Last Buyer's Agent

Benn Vogelsang

NorthMarq Multifamily License #01883437 Listed on: 06/17/2021

Property Details

Home Type

  • Multi-Family

Parking

  • 14 Parking Spaces

Home Design

Interior Spaces

  • 5 Bedrooms
  • 11,840 Sq Ft Home
  • 2-Story Property

Additional Homes

  • Number of ADU Units: 3

Listing and Financial Details

  • Total Actual Rent $24,304

Community Details

Overview

  • 14 Units

Building Details

  • 14 Leased Units
  • Operating Expense $88,106

Property Details

Home Type

Multi-Family

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Stories: 2
  • Property Sub Type: Com-Res Income
  • CapRate: 4.5
  • Co List Office Mls Id: 69464
  • Living Area: 11840.0
  • FeedTypes: IDX
  • RFModificationTimestamp: 2025-03-05T12:17:41Z
  • FullAddress: 424 Emerald Avenue
  • NumofLeasedApartments: 14
  • ShortSale: No
  • Special Features: VirtualTour

Interior Features

  • Total Bedrooms: 5

Garage/Parking

  • Total Parking Spaces: 14.0

Multi Family

  • Number Of Buildings: 1
  • Number Of Units Total: 14
  • Annual Operating Expense: 88106.0
  • Total Actual Rent: 24304.0
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Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
10/07/2021 10/07/21 Sold $4,142,000 -3.7% $350 / Sq Ft
08/23/2021 08/23/21 Pending -- -- --
06/24/2021 06/24/21 For Sale $4,300,000 +22.9% $363 / Sq Ft
06/16/2020 06/16/20 Sold $3,500,000 -9.1% $296 / Sq Ft View Prior Sale
03/21/2020 03/21/20 Pending -- -- --
02/11/2020 02/11/20 For Sale $3,850,000 -- $325 / Sq Ft
Source: San Diego MLS

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 $66,737 $4,395,522 $2,653,020 $1,742,502
2024 $66,737 $4,309,336 $2,601,000 $1,708,336
2023 $65,016 $4,224,840 $2,550,000 $1,674,840
2022 $57,633 $3,606,984 $2,061,134 $1,545,850
2021 $48,879 $3,536,260 $2,020,720 $1,515,540
2020 $26,818 $1,820,700 $1,300,500 $520,200
2019 $21,892 $1,785,000 $1,275,000 $510,000
2018 $12,868 $1,038,669 $188,252 $850,417
2017 $12,703 $1,018,304 $184,561 $833,743
2016 $12,194 $998,339 $180,943 $817,396
2015 $12,133 $983,344 $178,226 $805,118
2014 $11,902 $964,082 $174,735 $789,347
Source: Public Records

Agents Affiliated with this Home

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Map

Source: San Diego MLS

MLS Number: 210017481

San Diego MLS

APN: 487-541-21-00