964-980 Merritt Drive
$5,940,000
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Description
Portfolio sale Seller may consider individual offers. Property to be sold with 986 Merritt Drive & 1096 N. Mollison Ave. (With the option to buy additional properties at 1012-1014 N 1st, 1022-1024 N 1st, 504-506 Ann Street, 1064 E. Madison, and 898 Valley Village). Please call or email for full marketing packages. We are proud to present Merritt Manor, an extremely well-maintained 18-unit apartment complex in one of the nicest areas of El Cajon. The subject property is close to schools, shopping,...Portfolio sale Seller may consider individual offers. Property to be sold with 986 Merritt Drive & 1096 N. Mollison Ave. (With the option to buy additional properties at 1012-1014 N 1st, 1022-1024 N 1st, 504-506 Ann Street, 1064 E. Madison, and 898 Valley Village). Please call or email for full marketing packages. We are proud to present Merritt Manor, an extremely well-maintained 18-unit apartment complex in one of the nicest areas of El Cajon. The subject property is close to schools, shopping, and transportation. There is an attractive Fannie Mae loan on this property that can be assumed. The interest rate is 3.32%, fully amortized over 30 years, and due in 2027. The current balance on the loan is $2,466,780. With current interest rates averaging 6% or higher, the assumption of the existing loan creates a desirable return on investment. Merritt Manor consists of eight separate one-story buildings, with each unit having private rear yards/patios. Each unit is separately metered for gas and electricity, with individual water heaters and gas appliances. The tenants reimburse the owner for all utilities, including water, sewer, and trash, through a RUBs system. The two front units have attached garages and washer/ dryer hookups, and all the buildings have newer roofs and paint. All the units have wall A/C units. The property has lush, mature trees and landscaping, with plenty of open space between the buildings. The property shows the overall pride of ownership. This property is perfect for a buyer looking for a turnkey investment with some upside in the rents.
- Listed by Craig Stewart • DRE #01060001 • Acre Investment Real Estate
Property Details for 964-980 Merritt Drive
City Postal ID
EL CAJON (92020)
LISTING UPDATED: 02/23/2024 09:32 AM
Property Details for 964-980 Merritt Drive
Status | Active |
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MLS # | 240001794 |
Days on Market | 302 |
Taxes | - |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Commercial-Res Income / Apartment |
Year Built | - |
Lot Size | 0.96 AC / 41,817 SF |
County | San Diego County |
Building Information for 964-980 Merritt Drive
Stories-Residences-Year Built-Building Size-Lot Size0.96 AC / 41,817 SF
Property Information for 964-980 Merritt Drive
Property History for 964-980 Merritt Drive
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Schools near 964-980 Merritt Drive
This home is within Cajon Valley Union School District.
Rating | School | Type | Grades | Distance |
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Public - | K to 6 | |||
Public - | 6 to 8 | |||
Public - | 9 to 12 | |||
Charter - | K to 5 |
Rating | School | Distance |
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Anza Elementary School PublicK to 6 | ||
Emerald Middle School Public6 to 8 | ||
Valhalla High School Public9 to 12 | ||
Eje Elementary Academy Charter CharterK to 5 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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