For Sale
$1,470,000

431 Graves AveEl Cajon, CA 92020

Prime El Cajon location, high ROI potential.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional El Cajon investment opportunity presents a 1947-built, 1,895 square foot apartment building situated on an expansive 11,588 square foot lot. Currently operating as a permitted independent living facility with a strong annual net operating income (NOI) exceeding $134,742, this property offers a 9.17% cap rate. The two, single-story buildings underwent renovations in 2016. The RM-6000 zoning allows for multifamily development, presenting significant value-add potential for an owner/user. The property boasts seven bedrooms and three bathrooms. Further opportunities exist to expand, potentially through the addition of accessory dwelling units (ADUs). The sale includes fully paid solar panels. Seller financing options are available, covering 40-50% of the purchase price. This property is priced at $1,470,000, translating to $775.73 per square foot. This is a rare chance to acquire a well-maintained, income-generating property with substantial upside potential in a desirable El Cajon location. The property's history as an independent living facility provides a solid foundation for continued operation or creative repositioning. The large lot size and favorable zoning provide flexibility for future development and expansion.

Highlights

  • Independent Living Facility currently operating.
  • 11,588 square foot lot.
  • Multifamily zoning.
  • Potential for Accessory Dwelling Unit (ADU) development.
  • Seven bedrooms, three bathrooms.
  • Seller financing available (40-50%).

Property Details for 431 Graves Ave

Property type
Specialty properties, Retirement homes
Square Feet
1,895 SF
Year Built/Renovated
1947/2016
Buildings
2
Stories
1

Location Insight

City
El Cajon
County
San Diego
State
California
Latitude
32.799812379714
Longitude
-116.960342411
431 Graves Ave, El Cajon, California

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431 Graves Ave
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