532 N 1st St El Cajon, CA 92021
Estimated payment $40,351/month
Highlights
- Wood Flooring
- Partially Fenced Property
- 4-minute walk to Wells Park
- Community Barbecue Grill
About This Home
Pleased to present a rare high cap rate investment opportunity in San Diego County. This 20-unit multifamily property offers strong in-place income with significant upside potential. The property consists of approximately 12,000 square feet of rentable space situated on a 21,928 square foot lot, featuring twenty (20) spacious two-bedroom, one-bathroom units. This well-located asset benefits from its proximity to key amenities, including shopping, parks, schools, and major transportation corridors. Conveniently positioned less than one mile from major retail and community resources such as Town & Country Shopping Center El Cajon, Wells Park, Boys & Girls Club of East County, and El Cajon Valley High School, the property also offers excellent access to Interstate 8 and State Route 67, providing connectivity to major employment hubs throughout San Diego County. Several units have been upgraded with modernized kitchens, updated flooring (tile and carpet), and new bathroom vanities, enhancing tenant appeal and rental potential. Community amenities include gated entry, off-street parking, an on-site laundry facility, a community courtyard, and a swimming pool, contributing to a comfortable and attractive living environment. This is an exceptional opportunity for investors seeking a stabilized asset with value-add potential in a high-demand rental market.
Property Details
Home Type
- Multi-Family
Lot Details
- 21,929 Sq Ft Lot
- Lot Dimensions are 101x218
- Partially Fenced Property
- Wood Fence
Home Design
Interior Spaces
- 40 Bedrooms
- 2-Story Property
- Wood Flooring
Parking
- 22 Parking Spaces
- 20 Carport Spaces
Utilities
- Cooling System Mounted To A Wall/Window
- Heating System Mounted To A Wall or Window
Community Details
- 20 Units
- Community Barbecue Grill
- 20 Leased Units
Map
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 | $70,581 | $4,934,617 | $2,918,322 | $2,016,295 |
| 2024 | $70,581 | $4,837,860 | $2,861,100 | $1,976,760 |
| 2023 | $69,744 | $4,743,000 | $2,805,000 | $1,938,000 |
| 2022 | $60,297 | $3,589,773 | $1,576,767 | $2,013,006 |
| 2021 | $56,453 | $3,519,386 | $1,545,850 | $1,973,536 |
| 2020 | $49,921 | $3,483,300 | $1,530,000 | $1,953,300 |
| 2019 | $41,771 | $3,415,000 | $1,500,000 | $1,915,000 |
| 2018 | $24,656 | $1,999,300 | $874,693 | $1,124,607 |
| 2017 | $24,340 | $1,960,099 | $857,543 | $1,102,556 |
| 2016 | $23,367 | $1,921,667 | $840,729 | $1,080,938 |
| 2015 | $23,250 | $1,892,803 | $828,101 | $1,064,702 |
| 2014 | $20,122 | $1,635,000 | $757,000 | $878,000 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 04/17/2026 04/17/26 | For Sale | $6,495,000 | 0.0% | -- | |
| 03/24/2026 03/24/26 | Price Changed | $1,950 | -7.1% | $3 / Sq Ft | |
| 01/12/2026 01/12/26 | For Rent | $2,100 | 0.0% | -- | |
| 02/18/2022 02/18/22 | Sold | $4,650,000 | 0.0% | $373 / Sq Ft | View Prior Sale |
| 09/10/2021 09/10/21 | Pending | -- | -- | -- | |
| 07/15/2021 07/15/21 | For Sale | $4,650,000 | -- | $373 / Sq Ft |
Source: San Diego MLS
MLS Number: 260009246
APN: 489-030-28-00
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