Renovated Quadplex with
For Sale
$1,225,000
653 Avocado Ave, El Cajon, CA 92020
Four residential units include an improved front home, separate rear building, and on-site laundry facilities.
Property Size3,470 SF
Days on Market60
Property Features for 653 Avocado Ave
General Information
Standard status
Active
Size
3,470 SF
Property subtype
Investment
Building Details
Building Size
3,470 SF
Year Built
1968
Units
4
Listing Agency:
Real Broker
(619) 250-3931
Listed By:
Mike Shenkman · License #01460198
(619) 250-3931
Source:
Elliman
Added: Jul 3
Changed: Aug 30
Last Checked: Aug 30 at 5:12PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Real Broker
Investment Insights
Based on property information with market context.
This four-unit residential property includes a renovated front residence with 4 bedrooms and 3 bathrooms, plus a detached rear building containing three additional units. Improvements to the front home include interior remodeling, updated paint, and dual-pane windows. The residence also has a private washer and dryer, while the rear building provides a coin-operated laundry facility. A storage shed adds utility for residents or property operations.
Located at 653 Avocado Ave in El Cajon, the property is near shopping, restaurants, schools, transportation corridors, and major employment centers. Walk Score is 67, Bike Score is 59, and Transit Score is 36. Built in 1968, the asset may also support future additions such as ADUs or other improvements, subject to buyer verification and municipal approval.
Located at 653 Avocado Ave in El Cajon, the property is near shopping, restaurants, schools, transportation corridors, and major employment centers. Walk Score is 67, Bike Score is 59, and Transit Score is 36. Built in 1968, the asset may also support future additions such as ADUs or other improvements, subject to buyer verification and municipal approval.
Key Highlights
- Four‑unit residential property with one front residence and three rear units
- Front home includes 4 bedrooms, 3 bathrooms, interior remodeling, and dual‑pane windows
- Private washer and dryer in the front residence
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$35,683
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.91%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$713,660
$713.7K
Cap Rate 7%
$509,757
$509.8K
Cap Rate 9%
$396,478
$396.5K
Market Conditions
NOI Build-Up for 3,470 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$54.1K $15.60/SF
− Vacancy
−$3.2K −$0.91/SF
EGI
$51.0K $14.69/SF
− OpEx
−$15.3K −$4.41/SF
NOI
$35.7K $10.28/SF
Area
El Cajon, CA
Vacancy
5.83%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$713,660
Cap Rate 7%
$509,757
Cap Rate 9%
$396,478
Alternative Uses
Best Use
Multifamily LT 5
$509.8K
$446.0K – $594.7K
NOI $35,683 @ 7.0% cap · market cap 2.91%
Second Best
Apartment 5plus
$460.6K
$403.1K – $537.4K
NOI $32,244 @ 7.0% cap · market cap 2.63%
Theoretical Best
Office A
$862.2K
$754.4K – $1.01M
NOI $60,351 @ 7.0% cap · market cap 4.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,053
Businesses Nearby
Explore this area
Business Placement
Demographics for 92020, CA
60,454
Population
20,311
Households
3
Avg Household Size
37
Median Age
26%
College-Educated
84%
High-School Grad
11.1 sq mi
ZIP Area
5,446
Density / Sq Mi
$72,822
Median Household Income
$39,855
Median Earnings
$1,793
Median Rent
$741,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units include an improved front home, separate rear building, and on-site laundry facilities.
Where is this quadplex located?
The property is located at 653 Avocado Ave El Cajon, CA.
What is the asking price?
The asking price for this property is $1,225,000.
What are key features of this property?
This property features: Four‑unit residential property with one front residence and three rear units; Front home includes 4 bedrooms, 3 bathrooms, interior remodeling, and dual‑pane windows; Private washer and dryer in the front residence
