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MULTIFAMILY NEWS
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El Cajon Apartment Building Trades for $262k/Unit

5/23/23

A 22-unit apartment building in El Cajon traded hands in a recent $5.775 mil ($262.5k/unit) transaction. Built in 1986, the property is located at 299 Wisconsin Ave, south of I-8 and west of Magnolia Ave in the city’s downtown area.

The three-building apartment community consists of two- and three-bedroom units ranging in size from 875 sf to 1.1k sf. Community amenities at the property include on-site laundry facility, storage space, assigned and off-street parking, and on-site management and maintenance.

The city of El Cajon is situated just 17 miles east of Downtown San Diego and provides easy access to public bus routes, Interstate 8, and Highways 125 and 52. Residents enjoy a centralized location close to Main Street shopping, restaurants, and highways.

Benn Vogelsang with Northmarq represented both the buyer, Wisconsin EP LLC of Santa Ana, and the seller, Wisconsin Apartments LLC of El Cajon, in the deal. The property was in escrow for approximately 70 days.

“The assumable debt on this purchase and upside in rents made this property attractive to the buyer,” said Vogelsang.





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