Cajon Senior Villas | 1219 Persimmon Ave
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Cajon Senior Villas 1219 Persimmon Ave
46 Unit Apartment Building $10,500,000 ($228,261/Unit) 6.20% Cap Rate El Cajon, CA 92021
Investment Highlights
- Assumable private Debt @ 3.5% interest only
- 1990s Construction
- Second Floor Units have Tall Vaulted Ceilings w/ Skylights
- Excellent Condition - No Deferred Maintenance
- Large Lot with Ample Parking
Executive Summary
South Coast Commercial, Inc. is pleased to present 1219 Persimmon Avenue, a charming 46-unit multifamily community located in El Cajon, California. Built in 1990, this well-maintained asset consists of (45) 525 SF One Bedroom / One Bath units & (1) 600 SF One Bedroom / One Bath permitted ADU. All second-floor units feature vaulted ceilings & Skylight. This asset presents significant rental upside and is extremely easy to manage given the current tenant profile. The property is restricted to senior tenants (62+). There are no income-related restrictions currently in place.
Financial Summary (Pro forma - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$912,600
|
$38.34
|
| Other Income |
$39,600
|
$1.66
|
| Vacancy Loss |
$28,566
|
$1.20
|
| Effective Gross Income |
$923,634
|
$38.80
|
| Taxes |
$170,000
|
$7.14
|
| Operating Expenses |
$115,692
|
$4.86
|
| Total Expenses |
$285,692
|
$12.00
|
| Net Operating Income |
$637,942
|
$26.80
|
Financial Summary (Pro forma - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $912,600 |
| Annual Per SF | $38.34 |
| Other Income | |
|---|---|
| Annual | $39,600 |
| Annual Per SF | $1.66 |
| Vacancy Loss | |
|---|---|
| Annual | $28,566 |
| Annual Per SF | $1.20 |
| Effective Gross Income | |
|---|---|
| Annual | $923,634 |
| Annual Per SF | $38.80 |
| Taxes | |
|---|---|
| Annual | $170,000 |
| Annual Per SF | $7.14 |
| Operating Expenses | |
|---|---|
| Annual | $115,692 |
| Annual Per SF | $4.86 |
| Total Expenses | |
|---|---|
| Annual | $285,692 |
| Annual Per SF | $12.00 |
| Net Operating Income | |
|---|---|
| Annual | $637,942 |
| Annual Per SF | $26.80 |
Property Facts
| Price | $10,500,000 | Apartment Style | Low Rise |
| Price Per Unit | $228,261 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.89 AC |
| Cap Rate | 6.20% | Building Size | 23,802 SF |
| Sale Conditions | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 11 | No. Stories | 2 |
| No. Units | 46 | Year Built | 1990 |
| Property Type | Multifamily | Parking Ratio | 2.1/1,000 SF |
| Property Subtype | Apartment |
| Price | $10,500,000 |
| Price Per Unit | $228,261 |
| Sale Type | Investment |
| Cap Rate | 6.20% |
| Sale Conditions | 1031 Exchange |
| Gross Rent Multiplier | 11 |
| No. Units | 46 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.89 AC |
| Building Size | 23,802 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1990 |
| Parking Ratio | 2.1/1,000 SF |
Unit Amenities
- Air Conditioning
- Vaulted Ceiling
- Refrigerator
- Double Pane Windows
- Skylights
Site Amenities
- Laundry Facilities
- Property Manager on Site
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 46 | $1,675 | 526 - 600 |
Walk Score ®
Very Walkable (71)
PROPERTY TAXES
| Parcel Number | 484-201-02 | Total Assessment | $7,246,814 (2024) |
| Land Assessment | $2,812,201 (2024) | Annual Taxes | $170,000 ($7.14/SF) |
| Improvements Assessment | $4,434,613 (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
484-201-02
Land Assessment
$2,812,201 (2024)
Improvements Assessment
$4,434,613 (2024)
Total Assessment
$7,246,814 (2024)
Annual Taxes
$170,000 ($7.14/SF)
Tax Year
2025
zoning
| Zoning Code | RV (VARIABLE FAMILY RESIDENTIAL USE REGULATIONS) |
| RV (VARIABLE FAMILY RESIDENTIAL USE REGULATIONS) |
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Cajon Senior Villas | 1219 Persimmon Ave
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