445 Hart Drive, El Cajon, CA 92021
- $11,750,000
- List Price
- $11,750,000
- Status
- ACTIVE
- MLS#
- 260010489SD
- Lot Size
- 72,745
- Acres
- 1.67
- Days on Market
- 89
- Property Type
- Commercial
- Property Sub Type
- Mixed Use
Property Description
Price reduced $1,450,000. We are pleased to present Hart Townhomes, a 24-unit townhome community in El Cajon offered by the original developer. - Built 1991, comprehensively renovated 2016 to 2019 - 22 three bedroom homes (1,350 SF) and 2 four bedroom homes (1,550 SF) - Every home: attached duet, two car garage, private yard, fireplace, in-unit laundry - Tentative map contemplating individual townhome sales - 98% historical occupancy with four plus year average tenant tenure - In-place rents approximately 12% below market - Comparable El Cajon townhomes averaged $681,000 over trailing twelve months - Only 22.8% of El Cajon apartments contain three bedroom units; just 2.3% include four bedroom units Stabilized cash flow with embedded mark-to-market upside and condominium disposition optionality.
Additional Information
- Cooling
- Yes
- Attached Structure
- Detached
- Number Of Units Total
- 24
- Gross Scheduled Income
- $971,412
- Operating Expense
- 288017
Listing courtesy of Listing Agent: Erik Anderson (erik.anderson@nmrk.com) from Listing Office: Newmark of Southern California.
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