NOT LISTED FOR SALE

425 Millar Ave El Cajon, CA 92020

8 Beds
4 Baths
3,360 Sq Ft
8,113 Sq Ft Lot

Last Sold January 05, 2021

Last sale price $1,095,000 $326 Per Sq Ft

12 Days on Market

About This Home

As of January 2021

• Fantastic Unit Mix: All 2 Bedroom Units (840sf) • Prime West El Cajon Location • Four (4) Single-Car Garages, Two (2) Carport Spaces • Brand-New Roof (September 2020) • Pride of Ownership Asset • Ample Off-Street Parking • Onsite Laundry Room • Owned by Original Builder • Residential, 30-year Fixed Financing Available • Fantastic Investment or Owner-Occupant Opportunity • High Demand Rental Market • Easy Access to Local Services and Major Freeways This is a fantastic opportunity to purchase an extremely well-maintained four (4) unit complex in the high-demand rental market of El Cajon. The subject property is comprised of four (4) 2 bedroom / 1 bathroom units (840sf) with four (4) single-car garages, two (2) carport spaces and (2) surface parking spaces. The rear building has a large, common-area yard. This is a great opportunity for either an investor or an owner occupant buyer seeking a well-maintained property with spacious floorplans. A new owner can take advantage of the upside in rental income by upgrading the units with contemporary finishes as well as monetizing the storage area and garages.

Last Agent to Sell the Property

James V. Carter

Apartment Realty Group (ARG) License #01352336 Listed on: 12/03/2020

Last Buyer's Agent

Estela Williamson

David Gullifer, Broker License #01394896

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1987

Lot Details

  • 8,113

Home Design

  • Composition Roof

Additional Features

  • 2-Story Property
  • 8,113 Sq Ft Lot

Community Details

  • 4 Units
  • Net Operating Income $35,794

Listing and Financial Details

  • Tenant pays for electricity, gas/propane
  • Assessor Parcel Number 487-500-24-00

Property Details

Home Type

Multi-Family

Year Built

Built in 1987

Lot Details

0

Listing Details

  • Class: 2-4 UNITS
  • Type: Res Income 2-4 Units
  • Market Area: East County
  • Cross Street: W. Main Street
  • Neighborhood: El Cajon
  • Supplement: This is a fantastic opportunity to purchase an extremely well-maintained four (4) unit complex in the high-demand rental market of El Cajon. The subject property is comprised of four (4) 2 bedroom / 1 bathroom units (840sf) with four (4) single-car garages, two (2) carport spaces and (2) surface parking spaces. The rear building has a large, common-area yard. This is a great opportunity for either an investor or an owner occupant buyer seeking a well-maintained property with spacious floorplans. A new owner can take advantage of the upside in rental income by upgrading the units with contemporary finishes as well as monetizing the storage area and garages.
  • LP / Sq Ft: 19.28
  • Stories: 2 Story
  • Sale Price List Price: 0.95
  • Total Stories: 2
  • Year Built: 1987
  • 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: Wood/Stucco
  • Roof: Composition

Condo/Co-op/Association

  • Community: EL CAJON

Lot Info

  • Lot Size: 7,500-10,889 SF
  • Water District: HELIX WATER DISTRICT
  • Assessor Parcel Number: 487-500-24-00
  • Estimated Lot Sq Ft: 8113
  • Water District URL: http://www.hwd.com
  • Estimated Number of Acres: 0.19
  • Map Code Column: E
  • Map Code Page: 1251
  • Map Code Row: 6

Rental Info

  • Tenant Pays: Electricity, Gas/Propane

Multi Family

  • No. of Units: 4
  • Actual Net Operating Income: 35794
  • Annual Expense Actual: 24385
  • Annual Expense Projected: 24385
  • Gross Rent Multiplier Actual: 61620.0
  • Gross Rent Multiplier Projected: 86160.0
  • Gross Sched Income Actual: 62040
  • Gross Sched Income Projected: 86580
  • Number Of Buildings: 1
  • Number Of Units With Cooling: 4
  • Number Of Units With Garage: 4
  • Number Of Units With Patios: 2
  • Number Of Units With Range Oven: 4
  • Number Of Units With Refrigerator: 4
  • Number Of Units With Washers: 4
  • Other Income Actual: 420
  • Other Income Projected: 420.0

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 Change Sq Ft Price
01/05/2021 01/05/21 Sold $1,095,000 -4.7% $326 / Sq Ft
12/16/2020 12/16/20 Pending -- -- --
12/03/2020 12/03/20 For Sale $1,149,000 -- $342 / Sq Ft
Source: San Diego MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • James V. Carter

    Seller's Agent in 2021

    James V. Carter

    Apartment Realty Group (ARG)

    (610) 755-1778

    41 Total Sales

    James V. Carter
    Section Image
  • Estela Williamson

    Buyer's Agent in 2021

    Estela Williamson

    David Gullifer, Broker

    (619) 549-0501

    24 Total Sales

    Estela Williamson
    Section Image
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Map

Source: San Diego MLS

MLS Number: 200053150

San Diego MLS

APN: 487-500-24-00

California San Diego County El Cajon 92020

425 Millar Ave, El Cajon, CA

This home is located at 425 Millar Ave, El Cajon, CA 92020 since 03 December 2020. This property was built in 1987. 425 Millar Ave is a home located in San Diego County with nearby schools including Johnson Elementary School, Cajon Valley Middle School, and Grossmont High School.

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