El Cajon Multi-Family Properties for Sale

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Newest El Cajon Multi-Family Homes for Sale

$1,300,000

260025058 MLS ⋅ ACTIVE Status

PRIME COMMERCIAL PROPERTY & MIXED-USE DEVELOPMENT OPPORTUNITY – EL CAJON! Excellent investment opportunity located at 1256 N. 1st Street, El Cajon, CA 92021. Approximately 11,204 Sq. Ft. (0.257 acres) with reported C-36 commercial zoning, offering potential for various commercial uses. Conveniently located near Greenfield Drive and North 1st Street, just minutes from Interstate 8, shopping centers, businesses, and residential neighborhoods. The owner has proposed plans for mixed-use development featuring retail spaces and residential apartments, subject to city approval. Ideal for investors, developers, or business owners seeking a prime East County location with long-term investment potential. Buyer to verify zoning, permitted uses, development feasibility, property information, and all required city approvals.

1256 N 1st, El Cajon

$3,195,000

16 Beds ⋅ 16 Baths ⋅ 260024843 MLS ⋅ ACTIVE Status

633 E Park Avenue presents a fantastic opportunity to acquire a fully occupied, 16-unit apartment community in El Cajon at a 6.52% in-place cap rate, SIGNIFICANLY better then any other market opportunity currently available and well above the 4.7% San Diego County multifamily average. Built in 1972 and situated on a 16,122 square foot corner parcel, the approximately 7,440 square foot, two-story buildings feature sixteen 1BR/1BA units, a gated on-site parking lot with 20 spaces, and wrought-iron perimeter fencing. The RUBS billback and laundry produce approximately $6,375 per year in additional income. Upside remains increasing rent to market at $1,700 per month. With an actual gross scheduled income of $322,629 and a net operating income of over $208,000, investors can achieve a 6.52% cap rate at asking, rising to 6.82% at market rents, with a 1.58 debt coverage ratio on new financing. The property’s location further elevates its investment appeal. 633 E Park Avenue sits just blocks from Interstate 8, and minutes from downtown El Cajon, Parkway Plaza, and the East Main Street retail corridor. The all one-bedroom unit mix keeps leasing, turnover, and management simple. For investors seeking a stabilized, easily managed asset with a cap rate well above the market, utility recovery already in place, and positive cash flow from day one, 633 E Park Avenue, represents a compelling acquisition in the heart of East County. 633 E Park Avenue presents a fantastic opportunity to acquire a fully occupied, 16-unit apartment community in El Cajon at a 6.52% in-place cap rate, SIGNIFICANLY better then any other market opportunity currently available and well above the 4.7% San Diego County multifamily average. Built in 1972 and situated on a 16,122 square foot corner parcel, the approximately 7,440 square foot, two-story buildings feature sixteen 1BR/1BA units, a gated on-site parking lot with 20 spaces, and wrought-iron perimeter fencing. The RUBS billback and laundry produce approximately $6,375 per year in additional income. Upside remains increasing rent to market at $1,700 per month. With an actual gross scheduled income of $322,629 and a net operating income of over $208,000, investors can achieve a 6.52% cap rate at asking, rising to 6.82% at market rents, with a 1.58 debt coverage ratio on new financing. The property’s location further elevates its investment appeal. 633 E Park Avenue sits just blocks from Interstate 8, and minutes from downtown El Cajon, Parkway Plaza, and the East Main Street retail corridor. The all one-bedroom unit mix keeps leasing, turnover, and management simple. For investors seeking a stabilized, easily managed asset with a cap rate well above the market, utility recovery already in place, and positive cash flow from day one, 633 E Park Avenue, represents a compelling acquisition in the heart of East County.

633 E Park Ave, El Cajon

$1,249,000

8 Beds ⋅ 7 Baths ⋅ 260024692 MLS ⋅ ACTIVE Status ⋅ Bradley Park West BLDG.

Rare investment opportunity in El Cajon featuring four units with a versatile mix of layouts and desirable amenities. The property includes two mirrored front units, each offering 2 bedrooms, 2 bathrooms, a private patio, and a cozy fireplace. The rear units feature a bright upstairs 3-bedroom, 2-bathroom with a spacious deck, plus a downstairs 1-bedroom, 1-bathroom unit. All four units feature A/C, two tandem carport parking spaces, on-site coin-operated laundry, and extra storage closets. An excellent opportunity for investors seeking a multi-unit property with a diverse unit mix and outdoor living spaces. HOA includes pools, playground, rec room and landscaping

400 W Madison Ave, El Cajon

$899,000

4 Beds ⋅ 2 Baths ⋅ PTP2607468 MLS ⋅ ACTIVE Status

TWO DETACHED HOMES + ROOM FOR MORE! A rare opportunity for an owner-occupant, investor, or buyer looking for future upside. 12701272 Marline Ave features two separate 2-bedroom, 1-bath homes situated on one large approximately 0.45-acre parcel in El Cajon. Live in one and rent the other to help offset your monthly housing expense, create a multi-generational living arrangement, or enjoy the privacy and flexibility of two detached residences on one property. Both homes are currently tenant occupied. The tenants would like to remain, but continued tenancy is not a condition of the sale, giving the new owner added flexibility. And there may be more opportunity ahead. The generous lot size may provide potential for a strategically located third residence, ADU, additional development, or a future property configuration designed to preserve the existing homes while maximizing the use and value of the land, subject to City approval. This is the kind of property that can work today while offering possibilities for tomorrowtwo existing homes, rental income potential, owner-occupancy options, a large parcel, and potential development upside all in one package. VA, FHA and Conventional financing welcome, subject to buyer and property qualification. Convenient El Cajon location near shopping, schools, transportation and freeway access. Buyer to independently verify zoning, allowable density, ADU/additional dwelling potential, subdivision or lot-split possibilities, setbacks, parking, utilities, financing requirements and all proposed uses with the City of El Cajon, lender and appropria TWO DETACHED HOMES + ROOM FOR MORE! A rare opportunity for an owner-occupant, investor, or buyer looking for future upside. 12701272 Marline Ave features two separate 2-bedroom, 1-bath homes situated on one large approximately 0.45-acre parcel in El Cajon. Live in one and rent the other to help offset your monthly housing expense, create a multi-generational living arrangement, or enjoy the privacy and flexibility of two detached residences on one property. Both homes are currently tenant occupied. The tenants would like to remain, but continued tenancy is not a condition of the sale, giving the new owner added flexibility. And there may be more opportunity ahead. The generous lot size may provide potential for a strategically located third residence, ADU, additional development, or a future property configuration designed to preserve the existing homes while maximizing the use and value of the land, subject to City approval. This is the kind of property that can work today while offering possibilities for tomorrowtwo existing homes, rental income potential, owner-occupancy options, a large parcel, and potential development upside all in one package. VA, FHA and Conventional financing welcome, subject to buyer and property qualification. Convenient El Cajon location near shopping, schools, transportation and freeway access. Buyer to independently verify zoning, allowable density, ADU/additional dwelling potential, subdivision or lot-split possibilities, setbacks, parking, utilities, financing requirements and all proposed uses with the City of El Cajon, lender and appropriate agencies.

1270-72 Marline Ave, El Cajon

$1,159,000

6 Beds ⋅ 4 Baths ⋅ 260023706 MLS ⋅ ACTIVE Status ⋅ N/A BLDG.

SINGLE FAMILY HOME WITH DETACHED ADU! This unique property offers two separate residences, providing excellent flexibility for homeowners and investors alike. The main home features 3 bedrooms, 2 bathroom, 1,150 sq ft of living space, along with a covered patio and a designated planting area with multiple fruits tress. The separate ADU offers 3 bedrooms, 2 bathrooms, 1,040 sq ft with low-maintenance turf grass. With two distinct living spaces, this property offers the opportunity to live in one home while renting the other, or utilize both for rental income. A great opportunity to own two separate living spaces on one property. The address for the ADU is 828 Avocado Ave

398 Minnesota Ave, El Cajon

$999,999

5 Beds ⋅ 3 Baths ⋅ 260022472 MLS ⋅ ACTIVE Status ⋅ El Cajon BLDG.

Rare property! 2 detached renovated houses with separate private yards. Large lot which can potentially be used for ADU or assigned off-street parking. Both houses have been renovated and both have upgraded electrical panels & plumbing. 702 Lemon Ave has a brand new roof. Great property for an owner occupied buyer or for an investor looking to expand their portfolio.

905 W Washington Ave, El Cajon

$3,500,000

260022227 MLS ⋅ ACTIVE Status

Ballantyne Condominiums is󠃳󠂠󠂀󠂠󠃢󠂁󠂢󠃢󠂁󠂣󠃢󠂁󠂣󠃍󠂏󠃍󠂏 a newly constructed mixed-use asset ideally located in the heart of downtown El Cajon, within walking distance of Magnolia entertainment venue, popular restaurants, shopping, and local amenities. The property consists of eight residential condominium units and two ground-floor retail/office suites, including: INVESTMENT OVERVIEW Four (4) spacious 2-bedroom, 2.5-bath units Two (2) 1-bedroom plus study, 1.5-bath units Two (2) 1-bedroom, 1.5-bath units Two (2) street-level retail spaces Each residential unit is equipped with in-unit washer and dryer, individual HVAC systems, and secure gated covered parking. The property is currently 100% occupied, with all residential tenants on month-to-month leases, providing a new owner with the flexibility to implement immediate rental increases and maximize income potential. This turnkey investment is strategically positioned to benefit from the continued growth and revitalization of the East County submarket. A unique value-add opportunity exists for a buyer to complete the HOA formation process and pursue the sale of individual condominium units, potentially unlocking significant additional value. As a rare newer-construction asset, Ballantyne Condominiums offers low maintenance requirements, modern amenities, and strong long-term investment fundamentals.

120 Ballantyne, El Cajon

$1,500,000

5 Beds ⋅ 3 Baths ⋅ PT26177397 MLS ⋅ ACTIVE Status

Incredible investment &󠃳󠂠󠂀󠂠󠃢󠂁󠂢󠃢󠂁󠂣󠃢󠂁󠂣󠃍󠂏󠃍󠂏 multi-unit development opportunity! Situated on a massive 25,700 sqft RM-6000 lot, 1375 Naranca Ave combines instant cash flow with an expansive multi-unit plan. The property currently features two existing dwellings generating $4,800/mo ($3,000 main 3bd/2ba home + $1,800 Jr ADU 2bd/1ba) to easily offset carrying costs. Conceptual plans outline a high-density compound featuring proposed new builds: a 4bd/3ba unit, a 3bd/2ba unit, detached ADU 1, and potential detached ADU 2 garage conversion upside. In total, the multi-unit layouts provide a flexible 5-to-6 unit configuration scaling up to 1415 bedrooms. A rare turnkey development site with exceptional income and scale potential. Incredible investment & multi-unit development opportunity! Situated on a massive 25,700 sqft RM-6000 lot, 1375 Naranca Ave combines instant cash flow with an expansive multi-unit plan. The property currently features two existing dwellings generating $4,800/mo ($3,000 main 3bd/2ba home + $1,800 Jr ADU 2bd/1ba) to easily offset carrying costs. Conceptual plans outline a high-density compound featuring proposed new builds: a 4bd/3ba unit, a 3bd/2ba unit, detached ADU 1, and potential detached ADU 2 garage conversion upside. In total, the multi-unit layouts provide a flexible 5-to-6 unit configuration scaling up to 1415 bedrooms. A rare turnkey development site with exceptional income and scale potential.

1375 Naranca Ave, El Cajon

$1,999,000

8 Beds ⋅ 4 Baths ⋅ NDP2607908 MLS ⋅ ACTIVE Status

Rare 6-Unit Investment󠃳󠂠󠂀󠂠󠃢󠂁󠂢󠃢󠂁󠂣󠃢󠂁󠂣󠃍󠂏󠃍󠂏 Opportunity Prime Income Property Now available , this well-positioned 6-unit apartment complex presents an exceptional opportunity for investors seeking strong cash flow and long-term appreciation. Featuring a diverse unit mix, the property attracts a wide range of tenants, ensuring consistent occupancy and income stability. Strategically located in a high-demand rental area, this asset benefits from steady tenant interest, convenient access to local amenities, and solid rental growth potential. Ideal for both seasoned investors and those looking to expand their portfolio, this property offers multiple avenues for value-add improvements and increased returns. Dont miss this chance to acquire a versatile multi-family asset with built-in income and upside potential. only Unit 2 has washer & dryer hook up. please drive by only , don't disturb tenant. Rare 6-Unit Investment Opportunity Prime Income Property Now available , this well-positioned 6-unit apartment complex presents an exceptional opportunity for investors seeking strong cash flow and long-term appreciation. Featuring a diverse unit mix, the property attracts a wide range of tenants, ensuring consistent occupancy and income stability. Strategically located in a high-demand rental area, this asset benefits from steady tenant interest, convenient access to local amenities, and solid rental growth potential. Ideal for both seasoned investors and those looking to expand their portfolio, this property offers multiple avenues for value-add improvements and increased returns. Dont miss this chance to acquire a versatile multi-family asset with built-in income and upside potential. only Unit 2 has washer & dryer hook up. please drive by only , don't disturb tenant.

321-331 Roanoke Rd, El Cajon

$1,150,000

PTP2605735 MLS ⋅ ACTIVE Status

lot currently has a habitable house on it. However, the listing is for the land including the engineering and the plans. Plan review is completed by SD County and approved. Ready to pull permits after paying approx. $80K to Helix water, $6,162 Grading permit, $7,878 Demolition permit, and approx. $20K for final building fees. Plans are to build 4 detached units; 3 houses of 4BR/2.5BA, 2,350sf each and 1 ADU of 3BR/2.5BA 1,200 sf. Each house will have a 2-car garage of 500sf. Note that there is a fence at the back and there is a second fence behind it. Property includes both fenced areas. lot currently has a habitable house on it. However, the listing is for the land including the engineering and the plans. Plan review is completed by SD County and approved. Ready to pull permits after paying approx. $80K to Helix water, $6,162 Grading permit, $7,878 Demolition permit, and approx. $20K for final building fees. Plans are to build 4 detached units; 3 houses of 4BR/2.5BA, 2,350sf each and 1 ADU of 3BR/2.5BA 1,200 sf. Each house will have a 2-car garage of 500sf. Note that there is a fence at the back and there is a second fence behind it. Property includes both fenced areas.

1470 Marline Ave, El Cajon

$12,500,000

105 Beds ⋅ 105 Baths ⋅ 260014840 MLS ⋅ ACTIVE Status

Pleased to present Maronda Terrace, a 56-unit gated multifamily investment opportunity located in the heart of El Cajon, one of East San Diego County’s most established rental markets. Built in 1972, the property sits on an expansive ±1.84-acre parcel and features a desirable unit mix consisting of seven (7) one-bedroom/one-bath units, ten (10) two-bedroom/one-and-a-half-bath townhome units, and thirty-nine (39) two-bedroom/two-bath units, appealing to a broad tenant base seeking larger floor plans and convenient access to regional amenities. The asset has benefited from extensive capital improvements that significantly reduce deferred maintenance and support long-term operational stability. Recent upgrades include roof replacements with long-term warranties on most buildings, upgraded electrical subpanels, exterior paint, parking lot resurfacing, interior property fencing, asphalt improvements throughout parking areas, updated water heaters, and completed SB721 balcony inspections. These improvements provide investors with a well-maintained asset requiring limited near-term capital expenditures.

444-60 Graves Ave, El Cajon

$11,750,000

74 Beds ⋅ 72 Baths ⋅ 260010489 MLS ⋅ ACTIVE Status

Price reduced $1,450,000. We are pleased to present Hart Townhomes, a 24-unit townhome community in El Cajon offered by the original developer. - Built 1991, comprehensively renovated 2016 to 2019 - 22 three bedroom homes (1,350 SF) and 2 four bedroom homes (1,550 SF) - Every home: attached duet, two car garage, private yard, fireplace, in-unit laundry - Tentative map contemplating individual townhome sales - 98% historical occupancy with four plus year average tenant tenure - In-place rents approximately 12% below market - Comparable El Cajon townhomes averaged $681,000 over trailing twelve months - Only 22.8% of El Cajon apartments contain three bedroom units; just 2.3% include four bedroom units Stabilized cash flow with embedded mark-to-market upside and condominium disposition optionality.

445-523 Hart Dr, El Cajon

$5,950,000

40 Beds ⋅ 20 Baths ⋅ 260009246 MLS ⋅ ACTIVE Status

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. 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.

532 N 1st, El Cajon

$3,900,000

14 Beds ⋅ 13 Baths ⋅ 260007287 MLS ⋅ ACTIVE Status

275 S Mollison Avenue is a 13-unit apartment community offering a fully leased, turnkey investment opportunity. The property features recent upgrades throughout, including new flooring and modern bathroom finishes with floating vanities, creating a clean, contemporary feel that appeals to today’s tenants.This asset delivers stable cash flow, low maintenance, and strong rental demand, all within a private setting and conveniently located near schools, shopping, and major freeways.The current ownership has completed significant improvements, including a full renovation of one unit following vacancy. Upgrades included new cabinetry, flooring, drywall, insulation, updated sliding doors, a remodeled bathroom, and relocation of the water heater to a new tankless system. Professionally managed by Sandirent Property Management for the past three years, the property has maintained consistent performance with no major tenant-related issues, providing investors with confidence in its ongoing operations.An excellent opportunity for investors seeking a stabilized, income-producing asset with upside potential.

275-99 S Mollison, El Cajon

$1,399,000

8 Beds ⋅ 4 Baths ⋅ PTP2506451 MLS ⋅ ACTIVE Status

Great Investment Opportunity! Upside on rental income. The property has 3 first floor units with a fourth unit upstairs with each unit at approximately 860 sq. ft. Each unit has a 1 car garage, one parking spot and has on site laundry room in back of property. Each unit has 2 bedrooms, 1 full bath. Located near the heart of downtown El Cajon. Plenty of parking for all residents & guests. Great Investment Opportunity! Upside on rental income. The property has 3 first floor units with a fourth unit upstairs with each unit at approximately 860 sq. ft. Each unit has a 1 car garage, one parking spot and has on site laundry room in back of property. Each unit has 2 bedrooms, 1 full bath. Located near the heart of downtown El Cajon. Plenty of parking for all residents & guests.

1109 E Lexington, El Cajon

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El Cajon Multi-Family Properties for Sale

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