NOT LISTED FOR SALE

552 Millar Ave El Cajon, CA 92020

8 Beds
4 Baths
4,012 Sq Ft
8,502 Sq Ft Lot

Last Sold April 18, 2023

Last sale price $1,450,000 $361 Per Sq Ft

8 Days on Market

Highlights

  • No HOA
  • 5-minute walk to El Cajon Transit Center
  • Paved or Partially Paved Lot
  • Grossmont High School Rated A-
  • Laundry Room
  • No Heating

About This Home

As of April 2023

This desirable fourplex (4 units) is a 2 story building located western El Cajon. All units are spacious 2 bedrooms with in-unit laundry areas. One unit was just updated with new paint throughout and carpet in bedrooms. Location is close to all amenities, shopping, restaurants, and FWY. Each unit is individually metered for gas & electric. Fifth electric meter for common area. Eight marked parking spaces, two for each unit. Laminate flooring in all living spaces except bedrooms. Low maintenance landscaped common area with shade provided by mature trees. Excellent candidate for a 1031 exchange or just a long-term investment. Please do not disturb tenants.

Last Agent to Sell the Property

Kelly Kohler

Century 21 Affiliated License #01981011 Listed on: 03/06/2023

Century 21 Affiliated

Last Buyer's Agent

Gregg Phillipson

Keller Williams Realty License #01153857

Keller Williams Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1979

Lot Details

  • 8,502 Sq Ft Lot
  • Two or More Common Walls
  • Paved or Partially Paved Lot
  • Level Lot

Home Design

  • Property Attached
  • Entry on the 1st floor

Interior Spaces

  • 4,012 Sq Ft Home
  • 2-Story Property

Bedrooms and Bathrooms

  • 8 Bedrooms
  • 4 Bathrooms

Laundry

  • Laundry Room
  • Dryer
  • Washer

Parking

  • 7 Open Parking Spaces
  • 7 Parking Spaces

Additional Features

  • Exterior Lighting
  • No Heating

Listing and Financial Details

  • Tax Lot 03188
  • Tax Tract Number 2028
  • Assessor Parcel Number 4874802100

Community Details

Overview

  • No Home Owners Association
  • 4 Units

Building Details

  • 5 Separate Electric Meters
  • 4 Separate Gas Meters
  • 1 Separate Water Meter
  • Electric Expense $50
  • Insurance Expense $1,552
  • Trash Expense $412
  • Water Sewer Expense $2,773
  • New Taxes Expense $18,331
  • Operating Expense $22,613
  • Gross Income $86,400
  • Net Operating Income $63,786

Property Details

Home Type

Multi-Family

Year Built

Built in 1979

Lot Details

0

Listing Details

  • Assessments: Yes
  • CapRate: 4.50
  • Property Attached: Yes
  • View: No
  • Water Sewer Expenses: 2773.00
  • Zoning: Multi Family Dwellings Generic Any Co...
  • Property Type: Residential Income
  • Parcel Number: 4874802100
  • Year Built: 1979
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Fireplace: No
  • Stories: 2
  • Common Walls: 2+ Common Walls
  • Appliances: No
  • Entry Level: 1
  • Price Per Square Foot: 361.42

Exterior Features

  • Fence: No
  • Pool Private: No
  • Spa: No

Garage/Parking

  • Parking: No
  • Total Parking Spaces: 7.00
  • Uncovered Spaces: 7.00

Utilities

  • Heating: No
  • Laundry: Yes
  • Laundry Features: Dryer Included, Inside, Washer Included
  • Trash Expense: 412.00
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No
  • Community Features: Sidewalks, Street Lights

Lot Info

  • Land Lease: No
  • Lot Features: Level with Street, Level, Paved
  • Lot Size Sq Ft: 8502.00
  • Lot Size Acres: 0.1952

Multi Family

  • Electric Expense: 50.00
  • Gross Income: 86400.00
  • Gross Scheduled Income: 86400.00
  • Insurance Expense: 1552.00
  • Lot Size Area: 8502.0000 Square Feet
  • Net Operating Income: 63786.00
  • Number Of Separate Electric Meters: 5
  • Number Of Separate Gas Meters: 4
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 4
  • Number With Range: 4
  • Number With Refrigerator: 4
  • Operating Expense: 22613.00
  • Rent Control: No
  • Total Expenses: 22613.00

Tax Info

  • New Taxes Expense: 18331.00
  • Tax Lot: 03188
  • Tax Tract Number: 002028

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Average Value
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Sold Price
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Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
04/18/2023 04/18/23 Sold $1,450,000 +1.8% $361 / Sq Ft
03/14/2023 03/14/23 Pending -- -- --
03/06/2023 03/06/23 For Sale $1,425,000 +3.6% $355 / Sq Ft
12/06/2021 12/06/21 Sold $1,375,000 -1.8% $343 / Sq Ft View Prior Sale
11/03/2021 11/03/21 Pending -- -- --
10/27/2021 10/27/21 For Sale $1,400,000 -- $349 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

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 $22,238 $1,508,580 $816,714 $691,866
2024 $22,238 $1,479,000 $800,700 $678,300
2023 $19,792 $1,402,500 $765,000 $637,500
2022 $18,331 $1,375,000 $750,000 $625,000
2021 $9,513 $655,617 $178,800 $476,817
2020 $9,253 $648,895 $176,967 $471,928
2019 $7,809 $636,173 $173,498 $462,675
2018 $7,683 $623,700 $170,097 $453,603
2017 $7,584 $611,471 $166,762 $444,709
2016 $7,282 $599,483 $163,493 $435,990
2015 $7,245 $590,480 $161,038 $429,442
2014 $7,105 $578,914 $157,884 $421,030
Source: Public Records

Agents Affiliated with this Home

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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: NDP2301638

California Regional Multiple Listing Service (CRMLS)

APN: 487-480-21-00