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233 N Mollison Ave
El Cajon, CA 92021
Terre at Mollison · Multifamily Property For Sale
·
120 Units
Investment Highlights
- TRUE VALUE-ADD OPPORTUNITY: a rent premium of $429 (22%) over classic units can be achieved for the renovated one- and two-bedroom units.
- MAJOR CAPITAL IMPROVEMENTS: Prior ownership has spent $1.14M on in-unit interior upgrades and extensive exterior capital improvements of $945K.
- With larger and more affordable units while still having immediate access to major job nodes and employment drivers.
- DESIRABLE UNIT MIX: Comprised of spacious studio, one-, two-, & three-bedroom floorplans averaging 866 SF.
- CONVENIENTLY LOCATED: Just around the corner from E. Main Street, El Cajon’s major thoroughfare, less than a mile from Downtown El Cajon.
- ???????Conveniently equipped with a sparkling swimming pool with sundeck, assigned parking, laundry facilities, BBQ area, on-site management, and more
Property Facts
| No. Units | 120 | Building Size | 103,694 SF |
| Property Type | Multifamily | Average Occupancy | 98% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1970/2023 |
| Building Class | C | Parking Ratio | 1.69/1,000 SF |
| Lot Size | 3.51 AC | ||
| Zoning | RM-2200 - 160 - 61 Units And Up Generic | ||
| No. Units | 120 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.51 AC |
| Building Size | 103,694 SF |
| Average Occupancy | 98% |
| No. Stories | 2 |
| Year Built/Renovated | 1970/2023 |
| Parking Ratio | 1.69/1,000 SF |
| Zoning | RM-2200 - 160 - 61 Units And Up Generic |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Walk-In Closets
- Carpet
- Window Coverings
Site Amenities
- Laundry Facilities
- Picnic Area
- Pool
- Property Manager on Site
- Grill
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | 680 |
| 1+1 | 52 | - | 688 - 700 |
| 2+2 | 65 | - | 1,000 |
| 3+2 | 2 | - | 1,150 |
Property Taxes
| Parcel Number | 488-132-16 | Improvements Assessment | $17,819,025 |
| Land Assessment | $10,404,000 | Total Assessment | $28,223,025 |
Property Taxes
Parcel Number
488-132-16
Land Assessment
$10,404,000
Improvements Assessment
$17,819,025
Total Assessment
$28,223,025
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