340 Orlando St, El Cajon, CA 92021
- $4,700,000
- 22
- BD
- 20
- BA
- 13,162
- SqFt
- List Price
- $4,700,000
- Days on Market
- 26
- Status
- ACTIVE
- MLS#
- 260018202
- Bedrooms
- 22
- Bathrooms
- 20
- Living Sq. Ft
- 13,162
- City
- El Cajon
- Property Type
- Multifamily
Property Description
Northwinds Apartments is a 20-unit garden community at 340 Orlando Street in El Cajon, fully gated and built around a lush, meticulously maintained central courtyard. The property is 100% occupied with long resident tenure, averaging nearly four and a half years, and offers 18 one bedroom homes at 550 square feet and two two bedroom homes at 750 square feet, each with a private patio and generous storage. Eleven garages, nine with direct courtyard access, and ample additional gated parking serve the community. Built in 1977 and well maintained since, every unit shows in strong condition with quartz or granite countertops, and finish levels leave room for a moderate value-add program on turns. Central water heaters were replaced within the last five to six years. Gross rents sit roughly 11% below market, giving the next owner a clear path to income growth on an already stabilized asset in one of San Diego County's tightest rental submarkets.
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Additional Information
- Living Area
- 13,162
- Stories
- 2
- Parking Spaces
- 33
Mortgage Calculator
Listing courtesy of Listing Agent: Erik M Anderson (858-395-6935) from Listing Office: Newmark of Southern California.
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