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748 N 3rd St, El Cajon, CA 92021
$5,300,000
748 N 3rd St, El Cajon, CA 92021View this property at 748 N 3rd St, El Cajon, CA 92021
748 N 3rd StEl CajonCA92021
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Property Description
748 N. 3rd St is a 17-unit townhouse-style complex located in the suburban family-focused east county region of San Diego. Built in 1982, this sprawling townhouse complex is 30 minutes from downtown San Diego and consists of (17) 2-bdrm. and 1.5-bath townhomes that are approx. 1,045 SF. Each bright and spacious unit includes a back patio, washer, and dryer. 748 N. 3rd St presents approx. 56% rental upside compared to renovated townhomes in the area. The property is offered at $264,000 per unit and $254 per foot, and at the list price, it stabilizes at an 8.56% CAP rate & 8.50 market GRM with projected market rents. Please note, 748 N. 3rd is not subject to local rent control, allowing for an annual rent increase of 5% + CPI (currently 10%). In addition to the spacious units and significant rental upside, this townhouse complex resides on nearly an acre lot (38,333 SF) with abundant parking (approx. 33 parking spaces) and a well-maintained community pool.
Full Property Details
Full Property Details for 748 N 3rd St
General
- Sold For: $5,300,000
- Status: Closed
- Type: Multi-Family
- MLS ID: 23-301383
- Added to Site: 274 day(s) ago
Rooms
Bathrooms
- Total Bathrooms: 25
Bedrooms
- Total Bedrooms: 34
Other Rooms
- Laundry: In Unit
Additional Information
- Other Features: None
Parking
- Garage: Yes
- Garage Spaces: 2
- Garage Description: Side By Side, Garage
Location
- Area: El Cajon
- County: San Diego
- Cross Streets: Marline Ave. and N. 3rd St.
- Driving Directions: Located just north of the 8 Freeway, the subject property is located on N. 3rd Street between Marline Ave and Naranca Ave.
Heating & Cooling
- Cooling Type: Central
- Heating Type: Central
Structural Information
- # Buildings: 3
- Common Walls: Attached
- Stories/Levels: 2
- Square Feet: 17,748
- Sq. Ft. Source: Assessor
- Year Built: 1982
- Year Built Source: Assessor
Unit Information
- Units in Complex: 17
- Unit Type: 2106
Unit 1
- Total Bathrooms: 1.5
- Bedrooms: 2
Additional Structures
- Other Structures: None
Lot Features
- Lot Size: 38333
- Lot Size Source: Vendor Enhanced
- Zoning: C
Financial Considerations
- Price Per Sq. Ft.: $253.55
- Assessment Year: 1982
Disclosures and Reports
- Disclosures/Reports: As Is
- APN: 507-283-20-00
Listed by Compass, Kenny Stevens and Compass, Patti Gerke
Sold by Keller Williams Realty, Athir Markos
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Schools
Schools serving 748 N 3rd St
School Districts:Cajon Valley Union School District, Grossmont Union High School District
Rating | Name | Grades | Distance |
---|---|---|---|
Bostonia Language Academy
1390 Broadway, El Cajon, CA 92021 | K-5 | 0.3 mi | |
1376 Pepper Dr, El Cajon, CA 92021 | K-5 | 1.1 mi | |
1495 Greenfield Dr, El Cajon, CA 92021 | 6-8 | 0.4 mi | |
1719 E Madison Ave, El Cajon, CA 92019 | 9-12 | 0.7 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 748 N 3rd St
Date
Details
Price
Change
Source
11/13/2023
Sold
$5,300,000
17.78%
MLS
8/16/2023
Listed
$4,500,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
748 N 3rd St, El Cajon, CA 92021 (MLS# 23-301383) is a Multi-Family property that was sold at $5,300,000 on November 13, 2023. Want to learn more about 748 N 3rd St? Do you have questions about finding other Multi-Family real estate for sale in El Cajon? You can browse all El Cajon real estate or contact a Coldwell Banker agent to request more information.