532 N 1St
El Cajon, CA 92021
$5,950,000
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.
| Listing Id: | 260009246 |
|---|---|
| List Price: | $5,950,000 |
| Property Type: | Residential Income |
| Property Sub Type: | Com-Res Income |
| Status: | Active |
| Bedrooms Total: | 40 |
| Bathrooms Full: | 20 |
| Lot Size Square Feet: | 21,929.0 |
| Waterfront?: | No |
| City: | El Cajon |
| County Or Parish: | San Diego |
| Postal Code: | 92021 |
| Year Built: | 0 |
| Number Of Units Total: | 20 |
| Structure Type: | Apartment |
| Basement: | false |
| Bathrooms Total Integer: | 20 |
| Building Area Units: | Sqft |
| Feed Types: | IDX |
| Carport Spaces: | 20.0 |
| Construction Materials: | Metal Fence, Part Fenced, Part Landscaped, Wood Fence |
| Cooling: | Wall/Window |
| Flooring: | Slab, Wood |
| Heating: | Wall |
| Laundry Features: | Leased |
| Levels: | 2 Story |
| Living Area Units: | Sqft |
| Lot Size Area: | 0.5 |
| Lot Size Dimensions: | 101X218 |
| Lot Size Units: | Acres |
| MLS Area Major: | East County |
| Parcel Number: | 489-030-28-00 |
| Parking Features: | Carports |
| Photos Change Timestamp: | 2026-04-19T20:28:27Z |
| Roof: | Other/Remarks |
| Special Listing Conditions: | N/K |
| State Or Province: | CA |
| Stories: | 2 |
| Zoning: | R-3:RESTRI |
| Sdmls Area Zip: | EL CAJON (92021) |
| Sdmls Lvt Date: | 2026-04-17 |
| Original List Price: | $6,495,000 |
| Sale Or Rent: | For Sale |
| Sdmls Status Detail: | 0 |
| Community Features: | BBQ, Other/Remarks |
| Existing Financing: | Conventional |
| Financial Data Source: | Owner |
| Building Area Source: | Buyer to Verify |
| Listing Terms: | Cash |
| Sdmls Internet Address: | 532 N 1St |
| Sdmls Have: | 0 |
| Sdmls Unit Rent1: | 2100 |
| Sdmls Motive Want: | 0 |
| Number Of Buildings: | 1 |
| Sdmls Numof Units1: | 20 |
| Sdmls Numof Leased Apartments: | 20 |
| Sdmls Max Search Price: | 5,950,000 |
| Sdmls Mt: | 49 |
| Sdmls Price Unit: | 325,000 |
| Sdmls Unit Rent Total1: | 42,000 |
| Sdmls Age: | 1,959 |
| Parking Total: | 22 |
| Sdmls Geo Update Timestamp: | 2026-04-17T22:06:45.2 |
| Sdmls Full Address: | 532 N 1St |
| Sdmls Pp Insta: | https://www.propertypanorama.com/instaview/snd/260009246 |
| Showing Requirements: | With Accepted Offer |
| Sdmls Lot Size: | .5 through .75 Acres |
| Sdmls Supplement Remarks: | 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. |
| On Market Date: | 2026-04-17 |
Listing Courtesy of: Bluxen, Inc
Listing Agent: Farid Khayamian
858-922-4845
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© 2026 San Diego MLS.
San Diego MLS data last updated on November 01, 2026 12:12 AM - PT.
Property Last Updated: November 01, 2026 12:12 AM - PT
