EL CAJON, CA (June 21, 2016) – Renette Manor, a value-add, 17-unit investment property in El Cajon, just sold for $2.8 million, $164,706 a unit, approximately 5% Cap Rate and 11 GRM on actual rents. The complex consists of 3 studios and 14 two-bedroom apartment units. The amenities include ample off-street parking, on-site laundry and a community swimming pool.
CLOSING HIGHLIGHTS
- 5% Cap Rate and 11 GRM on Actual Rents
- On Market Only a Few Weeks
- Seller Is In 1031 Exchange
The seller was represented by Anni Grimes of Grimes Group with Coldwell Banker Commercial SC (CBC SC), a full service commercial real estate firm located in Southern California, with office locations in San Diego, Temecula, Redlands and Ontario, specializing in commercial real estate and asset management. Anni Grimes, Partner at CBC SC, specializes in Multi-Family investment sales in San Diego County. For more information, please contact Anni at 858-261-1472 or email at [email protected].
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About Coldwell Banker Commercial SC
Coldwell Banker Commercial SC is a full service commercial real estate firm located in Southern California with office locations in San Diego, Temecula, Redlands and Ontario, specializing in commercial real estate brokerage and asset management. With a proven track record of efficiency, quality care and service, we offer the global strength that is synonymous with the Coldwell Banker Commercial brand. Our years of combined experience in commercial asset management services allows us to cost effectively serve the unique needs of each client. Our priority is value enhancement and the optimization of our client’s financial returns. Every effort is focused on this goal.
For more information, visit: www.cbcsocalgroup.com
