650 Mollison AveEl Cajon, CA 92021

  • Hospitality properties
  • 19,982 SF
For Sale

Property Details for 650 Mollison Ave

Year built
1977
Lot size
1.75 AC
Property size (Sq ft)
19,982 SF
Zone code
COMMERCIAL
Property type
Hospitality properties
Property subtype
Hotels
APN
484-321-09-00
APU
4843210900

Description

This exceptional investment opportunity presents two Class B hotels totaling 97+ rooms and approximately 38,261 square feet. Located in El Cajon, CA, on two contiguous parcels totaling over two acres, these properties boast a prime location with convenient Interstate 8 freeway access. Originally built in 1977 and 1989, the hotels have undergone significant renovations and currently operate under the Quality Inn brand. Amenities include free Wi-Fi, parking, hot breakfast, guest laundry, fitness center, business center, on-site marketplace, outdoor pool, and hot tub. Spacious suites feature refrigerators, flat-screen TVs, and stone-tiled bathrooms; select suites offer fully equipped kitchens. The strategic location offers guests easy access to numerous San Diego attractions, including downtown San Diego (20 minutes away), Sycuan Casino Resort, San Diego State University, Lake Jennings, and local parks. This multi-tenant property presents a compelling value-add opportunity for discerning investors. The properties are situated at 650 N Mollison Ave and 850 Sandalwood Dr, El Cajon, CA 92021, with APNs 484-321-09-00 and 484-321-11-00. The combined lot size ranges from 23,036 to 76,230 square feet, and the buildings comprise three stories. This is a rare chance to acquire a well-established hospitality asset with significant upside potential in a thriving market.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $5,041,976
    6.5%
    $4,654,131
    7%
    $4,321,693
  • Comparable approach

    Method
    Valuation
    Relative Method
    $7,728,140
    Geo Method
    $16,527,702
  • Alternative Use

    Use
    Valuation
    Residential
    $5,080,959
    Hospitality
    $4,654,131
    Educational
    $3,872,182
    Medical
    $4,005,353
    Retail
    $6,023,395
650 Mollison Ave, El Cajon, California

Location Insight

City
El Cajon
County
San Diego
State
California
Latitude
32.8037
Longitude
-116.952
CBSA code
41740
CBSA name
SAN DIEGO-CARLSBAD-SAN MARCOS, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$138,637
$2,409,519
$2,208,726
$4,618,245
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