Benn Vogelsang, Senior Vice President of Northmarq, successfully arranged the $5.775 million sale of a 22-unit apartment building located at 299 Wisconsin Ave. in El Cajon. Both the buyer and seller were represented by Vogelsang during this transaction which was completed after approximately 70 days in escrow.
Wisconsin EP LLC from Santa Ana purchased the property from Wisconsin Apartments LLC based out of El Cajon due to its assumable debt and potential for increased rents that made it an attractive option for buyers looking to invest in real estate within downtown El Cajon – 17 miles east of downtown San Diego with an average market rent rate set at $2,495 per unit.
The three-building complex was built back in 1986 and offers 875 – 1,076 square foot two or three bedroom units complete with onsite laundry facilities as well as storage space options along with assigned parking spots both onsite and offstreet plus management services available for residents’ convenience . Residents will also enjoy being close to Main Street shopping centers , restaurants , highways all while living centrally located within this vibrant city .
