1096 Mollison Ave El Cajon, CA 92021-4777
Property profile & analytics
1096 Mollison Ave El Cajon, CA 92021-4777
- Apartment buildings
- 24,778 SF
- 1.17 lot acres
Property ID
US09-8761043
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Colonial Gardens Apartments / Commercial Real Estate Agency / Property Management Company
- KLAT Consultations / Consultant
Property Details for 1096 Mollison Ave
- Year built
- 1977
- Lot size
- 1.17 lot acres
- Property size
- 24,778 SF
- Zone code
- R-4:MULTIPLE RESIDENTIAL
- Property type
- Apartment buildings
- APN
- 483-181-31-00
- APU
- 4831813100
Description
This exceptional 36-unit apartment building, Colonial Gardens, presents a compelling value-add investment opportunity in El Cajon, California. Located at 1096 N Mollison Ave, 92021, this property boasts 24,778 square feet across five, two-story buildings on a 1.2-acre lot. Built in 1977 and renovated in 2013, the property features a desirable R-4 zoning designation. Currently operating at 100% occupancy (as of December 4, 2024), the property generates a strong NOI of $550,028, with a pro-forma NOI projected at $572,165, resulting in a 6.25% current cap rate and a pro-forma cap rate of 6.50%. The asking price is $8,800,000, translating to $244,444 per unit and $355.15 per square foot. Amenities include a gated security courtyard, a BBQ area, on-site laundry facilities, and 48 off-street covered parking spaces. The property benefits from a utility reimbursement system (RUBs) for electricity, gas, water, sewer, and trash. Many units offer a townhome-style layout. This fee-simple ownership opportunity is suitable for a 1031 exchange.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,840,000
- ML approach
- $2,940,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $3,835,000
- 6.5%
- $3,540,000
- 7%
- $3,290,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $1,821,000
Market price range: $820k - $2.80M
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- El Cajon
- County
- San Diego
- State
- California
- Longitude
- -116.951
- Latitude
- 32.8102
- CBSA code
- 41740
- CBSA name
- SAN DIEGO-CARLSBAD-SAN MARCOS, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2024
$88,200
$2,760,907
$3,011,899
$5,772,806
-
$0.00
$0.00
$0.00
