340 Orlando St, El Cajon, CA 92021
- $4,700,000
- List Price
- $4,700,000
- Status
- ACTIVE
- MLS#
- 260018202SD
- Lot Size
- 24,829
- Acres
- 0.57
- Days on Market
- 26
- Property Type
- Commercial
- Property Sub Type
- Mixed Use
Property Description
Northwinds Apartments is a 20-unit garden community at 340 Orlando Street in El Cajon, fully gated and built around a lush, meticulously maintained central courtyard. The property is 100% occupied with long resident tenure, averaging nearly four and a half years, and offers 18 one bedroom homes at 550 square feet and two two bedroom homes at 750 square feet, each with a private patio and generous storage. Eleven garages, nine with direct courtyard access, and ample additional gated parking serve the community. Built in 1977 and well maintained since, every unit shows in strong condition with quartz or granite countertops, and finish levels leave room for a moderate value-add program on turns. Central water heaters were replaced within the last five to six years. Gross rents sit roughly 11% below market, giving the next owner a clear path to income growth on an already stabilized asset in one of San Diego County's tightest rental submarkets.
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Additional Information
- Cooling
- Yes
- Attached Structure
- Detached
- Number Of Units Total
- 20
- Gross Scheduled Income
- $413,748
- Operating Expense
- 185644
Listing courtesy of Listing Agent: Erik Anderson (erik.anderson@nmrk.com) from Listing Office: Newmark of Southern California.
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.