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August 20, 2019
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SAN DIEGO NEWS
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El Cajon Multifamily Property Gets New Owner in $13 Mil Transaction

6/17/19

In an El Cajon multifamily trade, A.L. Group LLC purchased The Heritage, a 56-unit complex, for $12.95 mil ($225k/unit). The 43.4k sf property sits on a 70k sf lot at 360 North 1st St.

Built in 1973 and thoroughly remodeled from the studs in 2009, all units have washer/dryers, central air-conditioning, granite counters and vanities, dual-pane windows, mounted microwaves, and stainless-steel appliances. There are 89 parking spaces. In addition, the buildings have pitched roofs, a BBQ area, a swimming pool and gated entry.

Located just south of the intersection between North 1st Street and East Madison Ave, the property is only a few blocks from the I-8 Fwy, providing easy access to San Diego as well as local shopping and culinary options in El Cajon.

Arby Eivazian of ACI Apartments represented the buyer and the seller, Pinnacle Heritage LLC, in the transaction. The deal came in at a 5.28% cap rate.





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