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NorthMarq Brokers Sell El Cajon Multifamily For $3.44M

Property Image
SOLD
$3,440,000
Erik Anderson
Benn Vogelsang

California

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MultiFamily
Sold 02/26/2024
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Property Image
SOLD

NorthMarq Brokers Sell El Cajon Multifamily For $3.44M

431 Van Houten Avenue

See Similar Deals
MultiFamily
Sold 02/26/2024
Erik Anderson
Benn Vogelsang
the dealplayerscompscontact
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Summary

CALIFORNIA
Asset Type:MultiFamily
Transaction Type:Sale

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.

Players

Erik Anderson
Newmark
Erik Anderson
5 deals$202.4M volume(858) 395-6935
BROKER
Benn Vogelsang
NorthMarq
Benn Vogelsang
5 deals$21M volume
BROKER

Details

SOLD
IMAGE: Benn Vogelsang & Erik Anderson DATE: 02/26/2024 ADDRESS: 431 Van Houten Avenue MARKET: El Cajon ASSET TYPE: Multifamily BROKERS: Benn Vogelsang (@Sandiego.Benn) & Erik Anderson - NorthMarq (@Northmarq) SALE PRICE: $3,440,000 UNITS: 8 ~ PPU: $430,000 NOTE: Northmarq's San Diego team, headed by SVPs Erik Anderson and Benn Vogelsang, sold an eight-unit multifamily property in El Cajon for $3.44 million. The property, built in 1986 and featuring three-bedroom townhome units, attracted attention for its unique mix and rental appeal in the affordable El Cajon submarket.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$183,466.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$12,221.59
Cash-on-Cash Return-1.27%
Monthly Debt Service$16,307.36
Annual Debt Service$195,688.26