The San Diego multifamily investment sales team at Northmarq, consisting of SVPs Erik Anderson and Benn Vogelsang, recently closed a deal for an eight-unit garden-style multifamily property in El Cajon. The transaction was valued at $3.44 million and both parties were represented by Anderson and Vogelsang.
Constructed in 1986, the property is situated at 431 Van Houten Ave. Each unit is a three-bedroom townhome with 2.5 bathrooms, averaging around 1,283 square feet.
According to Anderson, properties with unique unit types are gaining more attention from buyers nowadays. The buyer was particularly drawn to the rental experience offered by townhome units as well as its prime location in El Cajon.
El Cajon is located in the East County region of San Diego County and has a population of approximately 100,000 residents. It is known for being one of the most affordable submarkets within the region.
