1064-1066 1/2 Aster Ave, El Cajon, CA 92020

Property Description

1064-1066 1/2 Aster Ave is a 3 unit property located in El Cajon, California. There is approximately 40% upside in rental income. The City of El Cajon is considered one of the strongest east county rental markets in San Diego County, with great demand for apartment rentals. Historical occupancy in this sub-market is estimated to be approximately 97%-100% and rental rates continue to rise. This community offers excellent access to the Interstate 8 and Interstate 125 freeways, which connect to major employment centers in the greater San Diego area. The subject property was built in 1959 and consists of one 3 bedroom/2 bath unit that is approximately 1,150 square feet, one 2 bedroom/2 bath unit that is approximately 950 square feet, and one 2 bedroom/1 bath unit + a bonus room that is about 900 square feet. The exterior was just painted, the interiors have hardwood flooring, are well kept with 1950's charm, include spacious and efficient layouts, and offer in unit and shared laundry for all residents. Newer HVAC units installed for 1064 and 1066 1/2. There is ample on-site parking and select units come with a private patio or yard space for tenant enjoyment. The property has excellent ADUs potential with the large 0.23 AC lot.