About 532 N 1st
Pleased to present a rare high cap rate investment opportunity in San Diego County. This 20-unit multifamily property offers strong in-place income with significant upside potential. The property consists of approximately 12,000 square feet of rentable space situated on a 21,928 square foot lot, featuring twenty (20) spacious two-bedroom, one-bathroom units. This well-located asset benefits from its proximity to key amenities, including shopping, parks, schools, and major transportation corridors. Conveniently positioned less than one mile from major retail and community resources such as Town & Country Shopping Center El Cajon, Wells Park, Boys & Girls Club of East County, and El Cajon Valley High School, the property also offers excellent access to Interstate 8 and State Route 67, providing connectivity to major employment hubs throughout San Diego County. Several units have been upgraded with modernized kitchens, updated flooring (tile and carpet), and new bathroom vanities, enhancing tenant appeal and rental potential. Community amenities include gated entry, off-street parking, an on-site laundry facility, a community courtyard, and a swimming pool, contributing to a comfortable and attractive living environment. This is an exceptional opportunity for investors seeking a stabilized asset with value-add potential in a high-demand rental market.
