1940 Valley Rim Rd

El Cajon, CA 92021

$1,150,000
Last Sold Price
6
Beds
4
Baths
—Sq. Ft.
— / Sq. Ft.
—
Sq. Ft.
—
per Sq. Ft.
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Sold 5/15/23
Sold 5/15/23
a front view of a house with a yard
a view of a house with a snow in the yard
front view of a house with a yard
a view of a swimming pool with an outdoor space
a front view of a house with a yard
a view of under construction area and mountain view
a view of outdoor space and street
a view of a house with a yard
a view of a house with a outdoor space
a view of a house with swimming pool
a kitchen with white cabinets and stainless steel appliances
a view of a kitchen with wooden floor and a refrigerator
a large kitchen with a wooden floor and window
a view of kitchen with refrigerator stove microwave and cabinets
a bathroom with a shower
a view of a kitchen with a sink dishwasher a refrigerator with wooden floor
a bathroom with a sink a toilet and shower
an empty room with wooden floor cabinet and windows
a view of an empty room with a window
a view of a town with mountains in the background

Description

Priced to cash flow even with crazy 7%+ interest rates! We are pleased to present this turnkey gem on a HUGE lot in the serene Granite Hills of El Cajon. You will not find cheaper price per lot square footage for multifamily than with this 1.42 acre estate - $21/SF! The property is basically brand new construction given the heavy renovation for all 3 units and is comprised of a large 1500 SF 4BR 2BA home with a 400 SF attached studio. Sitting below this is a 900 SF 2BR 1BA home. All units have their...Priced to cash flow even with crazy 7%+ interest rates! We are pleased to present this turnkey gem on a HUGE lot in the serene Granite Hills of El Cajon. You will not find cheaper price per lot square footage for multifamily than with this 1.42 acre estate - $21/SF! The property is basically brand new construction given the heavy renovation for all 3 units and is comprised of a large 1500 SF 4BR 2BA home with a 400 SF attached studio. Sitting below this is a 900 SF 2BR 1BA home. All units have their own solar owned free and clear. Minisplit AC units and laundry hook ups in all. The 4/2 house is rented for $4100 and the 2/1 for $2400. Tenant application ready to go for $1800. On top of this, there is the ability to rent out the 15,000 SF part of the lot at the bottom for RV or boat storage. Seller already has an offer from one RV owner for $100/month is a Buyer wants it. There is the ability to fit 10-20 RVs easily, that is potential for $10-20k extra a year!
  1. Listed by Florian Sighe • DRE #02072593 • Brokerage DRE #01824454 • The Browar Group

Property Details for 1940 Valley Rim Road

Cross Streets
La Cresta Rd
Area
El Cajon (ELC)
HOA Fee Frequency 1
Monthly
HOA Fee 2
$0
HOA Fee Frequency 2
Monthly
Assessor Parcel Number
508-032-01-00
Directions
Take Greenfield exit, turn left at Siesta Calle, Left at Valley Rim for quarter mile. Property is on right.
LISTING CLOSED: 05/15/2023 12:00 AM

Property Details for 1940 Valley Rim Road

StatusSold
MLS #230001570SD
Days on Market24
Taxes-
HOA Fees-
Condo/Co-op Fees-
Property TypeMulti Family
MLS TypeResidential Income
Year Built1958
Lot Size-
CountySan Diego County
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Location

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Building Information for 1940 Valley Rim Road

Stories1Residences-Year Built1958Building Size-Lot Size-

Payment Calculator

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$5,845 per month

30 year fixed, 6.55% Interest

Principal and Interest

$5,845

Property Taxes

$0

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 1940 Valley Rim Road

Community / Development
Community / Development
  • Complex Name: Granite Hills
  • Number Of Units: 3
  • Builders Tract Name: Granite Hills
  • Earth Quake Insurance: 0
Structure Info
Structure Info
  • Number Of Stories: 1
  • View: No
  • Security Features: None
Contract Info
Contract Info
  • Financing: Conventional
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Net Operating Income: $75,501.00
  • Gross Scheduled Income: $102,000
  • Cap Rate: 5.80%
  • Gross Rent Multiplier: $12.50
  • Other Income1: $.00
  • Total Annual Expense: 23439
Land / Lot Info
Land / Lot Info
  • Horse: No
  • Land Included: No
Interior Features
Interior Features
  • Levels: One
  • Cooling Type: Other
Exterior Features
Exterior Features
  • Pool: No
  • Spa: No
  • Roof: Composition
  • Fence: Partial
Lease Terms
Lease Terms
  • Listing Terms: Cash, Conventional, Exchange, Seller May Carry, VA
  • Tenant Pays: Electricity

Property History for 1940 Valley Rim Road

DateEvent & SourcePriceAppreciation
May 15, 2023

Sold

CLAW #230001570SD

$1,150,000—
Feb 16, 2023

Pending

CLAW #230001570SD

—
Jan 23, 2023

Expired

CLAW #220026707SD

—
DateEvent & SourcePrice
05/15/2023

Sold

CLAW #230001570SD

$1,150,000
02/16/2023

Pending

CLAW #230001570SD

—
01/23/2023

Expired

CLAW #220026707SD

—

For completeness, we often displays two records for one sale: the MLS record and the public record.

Schools near 1940 Valley Rim Road

This home is within Cajon Valley Union School District.
Rating
School
Type
Grades
Distance
Madison Avenue Elementary School
Public - K to 5
Montgomery Middle School
Public - 6 to 8
Granite Hills High School
Public - 9 to 12
Kidinnu Academy
Charter - K to 8
Rating
School
Distance
Madison Avenue Elementary School
PublicK to 5

Montgomery Middle School
Public6 to 8

Granite Hills High School
Public9 to 12

Kidinnu Academy
CharterK to 8

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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AddressSold priceBedsBathsSqftLot AC
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–
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–
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1997 La Cresta Road, El Cajon, CA 92021
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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of The Browar Group, Florian Sighe, DRE #02072593

This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by SDMLS®. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2026 SDMLS®, Inc.