802-58 Franklin AveEl Cajon, CA 92020

Property Details for 802-58 Franklin Ave

Year built

1958

Lot size

0.51 AC

Property type

Apartment buildings

Description

This exceptional 24-unit apartment building, located at 802-58 Franklin Avenue in El Cajon, California, presents a compelling value-add opportunity. Built in 1958 on a 0.51-acre lot (APN 4875310700), the property boasts 15,850 square feet of net rentable space. The unit mix comprises fourteen one-bedroom/one-bathroom units averaging 575 square feet and ten two-bedroom/one-bathroom units averaging 780 square feet. Current amenities include spacious common areas, an on-site laundry facility, and ample off-street parking. Significant rental growth potential exists through strategic interior and exterior renovations. The property enjoys a prime location in downtown El Cajon's vibrant historic district, within walking distance of shopping, dining, entertainment venues, and festivals. Its convenient proximity to Interstate 8 and the El Cajon Transit Center ensures easy access to major employment centers in San Diego, including Downtown San Diego, Kearny Mesa, Mission Valley, and UTC, all within a 25-minute commute. El Cajon's strong renter base and low vacancy rate contribute to the property's inherent stability and investment appeal. The asking price is $5,900,000. This property offers a unique blend of immediate income generation and substantial long-term appreciation potential.

Location Insight

City

El Cajon

County

San Diego

State

California

Latitude

32.789

Longitude

-116.972

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