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594 Graves Ave 10 Unit Apartment Building $3,867,360 CAD ($386,736 CAD/Unit) 4.74% Cap Rate El Cajon, CA 92020
Investment Highlights
- All large 2 bedroom / 1 Bathroom Units (845sf)
- Strong 4.6% In-Place Cap Rate + Immediate Upside
- 23 On-Site Parking Spaces
- 8 out of 10 units newly renovated
- Large 19,973 SF lot
- All Tenants Due for Rental Increase
Executive Summary
594 Graves Ave is a 10-unit multifamily property located in the highly desirable rentable market of El Cajon. The property consists of a single, two-story structure with a large laundry room as well as a community front patio. The 8,483 square foot structure features (10) 2 bedroom / 1-bathroom units, each at 845 square feet. 8/10 units each have been newly remodeled with porcelain tile flooring, quartz countertops, dove tail cabinets, and stainless-steel appliances. Tenants have not had a rental increase in over 2 years. There is upside for a buyer to renovate the remaining two vintage units and bring them to market rents.
Property Facts
| Price | $3,867,360 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $386,736 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.45 AC |
| Cap Rate | 4.74% | Building Size | 8,432 SF |
| Gross Rent Multiplier | 12.8 | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1977/2025 |
| Property Subtype | Apartment | Parking Ratio | 2.35/1,000 SF |
| Zoning | R-4 - Multi-Family | ||
| Price | $3,867,360 CAD |
| Price Per Unit | $386,736 CAD |
| Sale Type | Investment |
| Cap Rate | 4.74% |
| Gross Rent Multiplier | 12.8 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.45 AC |
| Building Size | 8,432 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1977/2025 |
| Parking Ratio | 2.35/1,000 SF |
| Zoning | R-4 - Multi-Family |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Storage Space
- Tile Floors
- Kitchen
- Stainless Steel Appliances
- Tub/Shower
- Quartz Countertops
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Storage Space
- Public Transportation
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 10 | - | 845 |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 483-330-40 | Improvements Assessment | $1,714,916 CAD |
| Land Assessment | $1,905,462 CAD | Total Assessment | $3,620,378 CAD |
Property Taxes
Parcel Number
483-330-40
Land Assessment
$1,905,462 CAD
Improvements Assessment
$1,714,916 CAD
Total Assessment
$3,620,378 CAD
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594 Graves Ave
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