1477 Broadway

El Cajon, CA 92021

$5,400,000
Price
2
Beds
32
Baths
13,608 Sq. Ft.
$397 / Sq. Ft.
13,608
Sq. Ft.
$397
per Sq. Ft.

Description

Broadway Estates is a 16-unit multifamily investment property located at 1477 Broadway, El Cajon, California. Built in 1986, Broadway Estates offers exclusively spacious two-bedroom floor plans, each with two bathrooms and in-unit stackable laundry machines. Furthermore, the property offers desirable amenities including ample garage and surface parking, a spacious courtyard, private patios and balconies, and a swimming pool. Current ownership has invested significant capital into the property, with...Broadway Estates is a 16-unit multifamily investment property located at 1477 Broadway, El Cajon, California. Built in 1986, Broadway Estates offers exclusively spacious two-bedroom floor plans, each with two bathrooms and in-unit stackable laundry machines. Furthermore, the property offers desirable amenities including ample garage and surface parking, a spacious courtyard, private patios and balconies, and a swimming pool. Current ownership has invested significant capital into the property, with work completed since 2021 including new pool fencing, new patio fencing, a repaved concrete driveway, as well as a resurfaced pool and pool deck. Broadway Estates benefits from its optimal El Cajon location, in close proximity to an abundance of local area amenities. The property is situated within one mile of Madison Elementary School, Montgomery Middle School, and Granite Hills High School. Additionally, the property is located near shops and restaurants along 2nd Street and Main Street, two major thoroughfares in the area. Furthermore, Broadway Estates is located just over two miles from Parkway Plaza, one of the premier shopping destinations in the area with over 1.3 million square feet of retail, dining, and entertainment space.
  1. Listed by Tyler Leeson • DRE #01451551 • Brokerage DRE #00530854 • Marcus & Millichap RE Invest • 714-713-9086

Property Details for 1477 Broadway

Parking Spaces Total
25
Private Pool
No
Total Units
16.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
13608
Assessor Parcel Number
507-281-61-00
Property Attached YN
false

Location

Listing Courtesy of Marcus & Millichap RE Invest, Tyler Leeson, DRE #01451551
Add your commute
LISTING UPDATED: 04/02/2024 03:58 AM

Property Details for 1477 Broadway

StatusActive
MLS #OC24064761
Days on Market30
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1986
CountySan Diego County

Location

Listing Courtesy of Marcus & Millichap RE Invest, Tyler Leeson, DRE #01451551
Add your commute

Building Information for 1477 Broadway

Building/Complex1477 BroadwayFloor-Stories2Residences-Pet Policy-Year Built1986Building Size-

Payment Calculator

$32,469 per month

30 year fixed, 7.25% Interest

Principal and Interest

$29,470

Property Taxes

$2,999

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 1477 Broadway

Income / Expense / Tax Details
Income Details
  • Gross Income: $454,847
  • Gross Scheduled Income: $413,124
  • Vacancy Allowance: 12394
  • Vacancy Allowance Rate: 3
  • Gross Operating Income: $400,730
  • Net Operating Income: $262,238
  • Other Income Description: Misc
  • Other Income 1: $41,723
  • Gross Multiplier: 11.87
  • Cap Rate: 4.86
Expense Details
  • Operating Expense: $180,215
  • Operating Expense Percent: 40.70%
  • New Taxes Expense: $64,518
  • Fuel Expense: $8,238
  • Electric Expense: $8,238
  • Insurance Expense: $12,937
  • Maintenance Expense: $11,200
  • Professional Management Expense: $17,698
  • Trash Expense: $8,238
  • Water Sewer Expense: $8,238
  • Total Expenses: $180,215
Tax / Assessment Info
  • Tax Tract Number: 13651
  • Tax Census Tract: 164.04
  • CFD/Mello-Roos Fee: $12,310
  • Tax Lot: N/A
Community / Development
Community / Development
  • Community Features: Curbs, Gutters, Sidewalks
  • Community: EL CAJON
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Dryer Included, In Closet, Stackable, Washer Included
Exterior Features
  • Entry Location: First Level
  • Pool Features: Community
  • Pool: Community/Common
Land/Lot Info
  • Lot Features: Level with Street
  • Number Of Units: 16
  • Land Lease: No
  • Land Lease Type: Fee
  • Topography: Level
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 8
  • Uncovered Spaces: 17
  • Open Other Spaces Total: 17
  • Parking Garage Spaces: 8
  • Carport Spaces: 0
Property / Structure Info
  • Builders Tract Name: El Cajon
  • Builders Tract Code: El Cajon
Unit Information
Unit 1
  • Unit Type Units Total: 16
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 8
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $35,817
  • Unit Type Total Rent: $35,817
  • Unit Type Pro Forma: 37820
  • Unit Type Type: 1
Unit Information
  • Rent Controlled: No
  • Number Of Buildings: 2
  • Number Of Separate Electric Meters: 16
  • Number Of Separate Gas Meters: 16
  • Number Of Separate Water Meters: 1

Property History for 1477 Broadway

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 1477 Broadway

Taxable ValueLand$735,544Additions$1,245,833Total$1,981,377
Tax Record2023$35,983 ($2,999 / month)
Home Facts
Total Finished SqFt13,608 SqFtAbove Grade Finished SqFt13,608 SqFtLot Size30,056 SqFtStyleMulti-Family Res (5+ Units)Year Built1986ZoningCOMMERCIALCountySAN DIEGOAPN507-281-61-00

Schools near 1477 Broadway

This home is within Cajon Valley Union School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - K to 8
Public - 6 to 8
Public - 9 to 12
Rating
School
Distance
W. D. Hall Elementary School
PublicK to 5

Bostonia Elementary School
PublicK to 8

Greenfield Middle School
Public6 to 8

Granite Hills High School
Public9 to 12

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.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

1477 Broadway is a multi-family home for sale in El Cajon, CA 92021. This property was listed for sale on April 2, 2024 by Marcus & Millichap RE Invest, it's currently listed at $5,400,000. It has been on the market for a total of 30 days and was last sold on October 11, 2007. This listing's school districts are Cajon Valley Union School District, Grossmont Union High School District. Nearby schools include W. D. Hall Elementary School, Bostonia Elementary School and Greenfield Middle School. 1477 Broadway is a 2-bed, 32-bath, 13,608 sqft multi-family home built in 1986.

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 expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap RE Invest, Tyler Leeson, DRE #01451551

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 © 2024 SDMLS®, Inc.