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1362 E Main St
El Cajon, CA 92021
Vista Bella Apartments · Multifamily Property For Sale
·
68 Units
Executive Summary
Located in El Cajon, the Property is a well-maintained 68-unit multifamily community originally constructed in 1975. The unit mix consists of 30 studio units, 37 one-bedroom/one-bathroom units, and one three-bedroom/two-bathroom unit, with 95 surface parking spaces.
The Property has undergone several recent improvements, including upgrades to the pool area, outdoor fitness area and renovations to many unit interiors featuring vinyl plank flooring in wet areas, updated fixtures and lighting, new electrical outlets and switches, and mirrored closet doors. Community amenities include a gated swimming pool with lounge seating, outdoor fitness equipment, gated access, a gazebo with seating, ceiling fans and Wi-Fi, community laundry facilities, leasing office, and picnic area with barbecue grills.
Vista Bella is a stabilized apartment community in a strong East San Diego County rental market with continued demand for attainable housing and immediate upside potential. Current collections are in the 97–98% range. This property performs!
The Property has undergone several recent improvements, including upgrades to the pool area, outdoor fitness area and renovations to many unit interiors featuring vinyl plank flooring in wet areas, updated fixtures and lighting, new electrical outlets and switches, and mirrored closet doors. Community amenities include a gated swimming pool with lounge seating, outdoor fitness equipment, gated access, a gazebo with seating, ceiling fans and Wi-Fi, community laundry facilities, leasing office, and picnic area with barbecue grills.
Vista Bella is a stabilized apartment community in a strong East San Diego County rental market with continued demand for attainable housing and immediate upside potential. Current collections are in the 97–98% range. This property performs!
Property Facts
| Price Per Unit | $198,456 | Building Class | C |
| Sale Type | Investment | Lot Size | 2.14 AC |
| Cap Rate | 4.94% | Building Size | 53,572 SF |
| Gross Rent Multiplier | 10.9 | Average Occupancy | 99% |
| No. Units | 68 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1975 |
| Property Subtype | Apartment | Parking Ratio | 1.76/1,000 SF |
| Apartment Style | Garden | Opportunity Zone |
Yes
|
| Zoning | R3, El Cajon | ||
| Price Per Unit | $198,456 |
| Sale Type | Investment |
| Cap Rate | 4.94% |
| Gross Rent Multiplier | 10.9 |
| No. Units | 68 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.14 AC |
| Building Size | 53,572 SF |
| Average Occupancy | 99% |
| No. Stories | 2 |
| Year Built | 1975 |
| Parking Ratio | 1.76/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R3, El Cajon |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Disposal
- Bay Window
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Pool
- Property Manager on Site
- Tenant Controlled HVAC
- Tennis Court
- Gated
- Grill
- Smoke Free
- Lounge
- Maintenance on site
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 30 | - | 500 |
| 1+1 | 37 | - | 640 |
| 3+2 | 1 | - | 960 |
Property Taxes
| Parcel Number | 489-180-26 | Improvements Assessment | $3,496,628 |
| Land Assessment | $3,833,272 | Total Assessment | $7,329,900 |
Property Taxes
Parcel Number
489-180-26
Land Assessment
$3,833,272
Improvements Assessment
$3,496,628
Total Assessment
$7,329,900
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