Updated Dec 4, 2024
NorthMarq Brokers Sell El Cajon Multifamily For $3.44M
431 Van Houten Avenue
$3,440,000
Units
8
Asset Type
MultiFamily
Closing
Feb 26, 2024
About this deal
AI
The multifamily property located at 431 Van Houten Avenue in El Cajon was sold for $3.44 million. The property, built in 1986, consists of eight three-bedroom townhome units, making it an attractive investment in the affordable El Cajon submarket.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $3,440,000
- Units: 8
- Price Per Unit: $430,000
- Address: 431 Van Houten Avenue
- Market: El Cajon
The sale of the property was facilitated by NorthMarq's San Diego team, led by Senior Vice Presidents Erik Anderson and Benn Vogelsang. Their expertise and efforts in marketing the unique mix of units and rental appeal of the property played a significant role in attracting buyer interest and successfully closing the deal.
On the Map
$3,440,000
MultiFamily
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Players
El Cajon MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.61%
Cash-on-Cash
-1.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93