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424 Emerald Avenue, El Cajon, CA 92020

Commercial property · 2 recorded sales since 2020

424 Emerald Avenue, El Cajon, CA 92020 Sold October 2021 CRMLS
$4,142,000Sold October 2021

Listing Agent: Benn Vogelsang (DRE #01883437) · Listing Office: South Coast Commercial, Inc. · Contact: 619-226-6011 · Bought with: Benn Vogelsang · South Coast Commercial, Inc. · MLS #210017481 · Source: CRMLS

14
Units
4.50%
Cap Rate
$194,792
NOI
16,569 sqft
Lot Size
Commercial property
Type

About this commercial property

424 Emerald Avenue is a 14-unit apartment complex that has been recently renovated. The 11,840 square foot structure was built in 1959 and is situated on a 16,569 square foot lot. The unit mix consists of 3 approximately 950 square foot 3Bd/1Ba units and 11 approximately 825 square foot 2Bd/1Ba units. The secure complex features gated off-street parking, tankless water heaters, and an onsite laundry room. The interiors have new laminate flooring, crown molding, baseboards, drywall, paint/texture, ceiling fans, electrical outlets/covers, A/C, window treatments, electrical subpanels, and common washers and dryers. Exterior improvements include new staircases, vinyl windows, exterior paint, and landscaping. The kitchens and baths have new plywood cabinets, quartz countertops, sinks, toilets, doors and hardware. The bedrooms have new doors/hardware, mirrored closet doors, and balconies. There is an assumable Luther Burbank loan on the property.

Listing description from the October 2021 sale, as reported to CRMLS.

Sale history

$4,142,000
Sold October 2021 · listed $4,300,000, on market June 2021 · MLS #210017481 · Source: CRMLS
Listing Agent: Benn Vogelsang · Listing Office: South Coast Commercial, Inc. · Contact: 619-226-6011 · Bought with: Benn Vogelsang · South Coast Commercial, Inc.
$3,500,000
Sold June 2020 · listed $3,850,000, on market February 2020 · MLS #200006909 · Source: CRMLS
Listing Agent: Adam Cairo · Listing Office: South Coast Commercial, Inc. · Contact: 619-226-6011 · Bought with: Seth Watje · South Coast Commercial, Inc.
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