802 Franklin Avenue

El Cajon, CA 92020

$5,900,000

List Price

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Property Description

We are pleased to present the “Franklin Ave Apartments,” located at 802-58 Franklin Avenue, a 24-unit multi-family community in Downtown El Cajon. Constructed in 1958, the asset features a unit mix comprised of fourteen (14) one bedroom/one-bathroom units averaging 575 square feet, and ten (10) two-bedroom/one-bathroom units averaging 780 square feet. Existing amenities include spacious common areas, an on-site laundry facility, and ample off-street parking. Significant rental lift can be captured by performing in-unit and community enhancements. The property is conveniently located in the heart of an energetic and thriving historic district, within walking distance to an array of local shopping and dining options, year-round live entertainment, theatre, and festivals. The City of El Cajon is the fifth largest city in San Diego County, with a diverse economic base, regional connectivity across three major highways, local bus services, and MTS trolley lines. One of the most populated areas in the metro, El Cajon contains the largest concentration of apartment inventory in San Diego County. The city is fortified by an inelastic renter base helping sustain a structurally low vacancy rate. The increase in rental demand is driven by a shifting interest to larger units and more green space, away from density and coastal areas.

Listing Information

List Price $5,900,000
Status Active
MLS 240026176SD
HOA $0
Type Commercial
Subtype Mixed Use
Lot Size N/A
Structure Size N/A
Courtesy Of Marcus & Millichap
Listing Agent Austin Huffman DRE#01981817

Interior Features

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Exterior Information

Maps

Listing information courtesy of: Austin Huffman, Marcus & Millichap 858-373-3100. *Based on information from the Association of REALTORS/Multiple Listing as of Nov 7th, 2024 at 12:15 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.