748 N 3rd St

El Cajon, CA 92021

$5,300,000
Last Sold Price
34
Beds
25
Baths
17,748 Sq. Ft.
$299 / Sq. Ft.
17,748
Sq. Ft.
$299
per Sq. Ft.
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Sold 11/13/23
Sold 11/13/23
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Description

748 N. 3rd St is a 17-unit townhouse-style complex located in the suburban family-focused east county region of San Diego. Built in 1982, this sprawling townhouse complex is 30 minutes from downtown San Diego and consists of (17) 2-bdrm. and 1.5-bath townhomes that are approx. 1,045 SF. Each bright and spacious unit includes a back patio, washer, and dryer. 748 N. 3rd St presents approx. 56% rental upside compared to renovated townhomes in the area. The property is offered at $264,000 per unit and...748 N. 3rd St is a 17-unit townhouse-style complex located in the suburban family-focused east county region of San Diego. Built in 1982, this sprawling townhouse complex is 30 minutes from downtown San Diego and consists of (17) 2-bdrm. and 1.5-bath townhomes that are approx. 1,045 SF. Each bright and spacious unit includes a back patio, washer, and dryer. 748 N. 3rd St presents approx. 56% rental upside compared to renovated townhomes in the area. The property is offered at $264,000 per unit and $254 per foot, and at the list price, it stabilizes at an 8.56% CAP rate & 8.50 market GRM with projected market rents. Please note, 748 N. 3rd is not subject to local rent control, allowing for an annual rent increase of 5% + CPI (currently 10%). In addition to the spacious units and significant rental upside, this townhouse complex resides on nearly an acre lot (38,333 SF) with abundant parking (approx. 33 parking spaces) and a well-maintained community pool.

Listing Agents

  1. Kenny Stevens Team

    Kenny Stevens Team

    Listing Agent

    Compass

    DRE #01090251

    CallTextEmail
  2. Kenny Stevens

    Kenny Stevens

    Listing Agent

    Compass

    DRE #01090251

    kenny.stevens@compass.com

    P: (310)-968-7005

    CallTextEmail
  3. Patti Gerke

    Patti Gerke

    Alternative Listing Agent

    Compass

    DRE #01386269

    patti.gerke@compass.com

    P: (760)-525-7269

    CallTextEmail

Property Details for 748 North 3rd Street

Zoning
C
Cross Streets
Marline Ave. and N. 3rd St.
Parcel Number
5072832000
Total Units
17.0
Living Area
17748
Source Living Area
Assessor
Area
El Cajon (ELC)
Vacancy Rate
0
LISTING UPDATED: 11/13/2023 05:17 PM

Property Details for 748 North 3rd Street

StatusSold
MLS #23-301383
Days on Market20
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1982
Lot Size0.88 AC / 38,333 SF
CountySan Diego County
Buyer's Agent Compensation2%
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Location

Listing Courtesy of Compass, Kenny Stevens Team, DRE #01090251; Compass, Kenny Stevens, DRE #01090251; Compass, Patti Gerke, DRE #01386269

Sold By Keller Williams Realty, Athir Markos, DRE #02024154

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Building Information for 748 North 3rd Street

Stories2Residences-Year Built1982Building Size-Lot Size0.88 AC / 38,333 SF

Payment Calculator

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$27,666 per month

30 year fixed, 6.15% Interest

Principal and Interest

$25,831

Property Taxes

$1,835

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

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Property Information for 748 North 3rd Street

Community / Development
Community / Development
  • Number Of Units: 17
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Assessor
  • Number Of Stories: 2
  • Number Of Buildings: 3
  • Type Of Units: Townhomes
  • View: No
  • View Description: None
  • View: None
Contract Info
Contract Info
  • Disclosures: As Is
  • Listing Type: Exclusive Agency
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $329,507
  • Net Operating Income: $198,512.00
  • Gross Income: $337,956
  • Gross Scheduled Income: $337,956
  • Gross Rent Multiplier: $13.32
  • Financial Info as Of: 08/16/2023
  • Total Annual Expense: 130995
Land / Lot Info
Land / Lot Info
  • Lot Size Square Feet: 38333
Parking Details
Parking Details
  • Parking Garage: Side By Side, Garage
  • Total Parking: 33
  • Open Other Spaces Total: 31
  • Garage Spaces Total: 2
  • Parking Features: Side by Side, Garage
Interior Features
Interior Features
  • Levels: Two
  • Cooling: Central
  • Cooling Type: Central
  • Heating: Central
  • Heating Type: Central
  • Equipment: Built-Ins, Dryer, Washer, Refrigerator, Hood Fan, Dishwasher, Range/Oven
  • Common Walls: Attached
  • Laundry: In Unit
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 08-16-2023
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 2
  • Unit Furnished: No
  • Unit Rent: $1,657.00
  • Unit Actual Rent: $28,163.00
  • Unit Projected Rent: $44,115.00
  • Like Units: 17
Unit Details
  • Unit Type Type: 2106

Property History for 748 North 3rd Street

DateEvent & SourcePriceAppreciation
Nov 13, 2023

Sold

SDMLS #23-301383

$5,300,000—
Nov 13, 2023

Sold

CRMLS #23301383

$5,300,000—
Nov 13, 2023

Sold

CLAW #23-301383

$5,300,000—
Sep 5, 2023

Pending

CRMLS #23301383

—
Sep 5, 2023

Pending

CLAW #23-301383

—
Sep 5, 2023

Pending

SDMLS #23-301383

—
Aug 16, 2023

Listed (Active)

CLAW #23-301383

$4,500,000—
Aug 16, 2023

Listed (Active)

SDMLS #23-301383

$4,500,000—
Aug 16, 2023

Listed (Active)

CRMLS #23301383

$4,500,000—
DateEvent & SourcePrice
11/13/2023

Sold

SDMLS #23-301383

$5,300,000
11/13/2023

Sold

CRMLS #23301383

$5,300,000
11/13/2023

Sold

CLAW #23-301383

$5,300,000
09/05/2023

Pending

CRMLS #23301383

—
09/05/2023

Pending

CLAW #23-301383

—
09/05/2023

Pending

SDMLS #23-301383

—
08/16/2023

Listed (Active)

CLAW #23-301383

$4,500,000
08/16/2023

Listed (Active)

SDMLS #23-301383

$4,500,000
08/16/2023

Listed (Active)

CRMLS #23301383

$4,500,000

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

Public Records for 748 North 3rd Street

Taxable ValueLand$257,865Additions$1,004,061Total$1,261,926
Tax Record2020$22,018 ($1,835 / month)
Home Facts
Total Finished SqFt7,748 SqFtAbove Grade Finished SqFt7,748 SqFtLot Size38,333 SqFtStyleMulti-Family Res (5+ Units)Year Built1982Year Renovated1982ZoningCCountySAN DIEGOAPN5072832000

Schools near 748 North 3rd Street

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 5
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 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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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims 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 discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Compass, Kenny Stevens Team, DRE #01090251; Compass, Kenny Stevens, DRE #01090251; Compass, Patti Gerke, DRE #01386269

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.