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    431 Graves Ave El Cajon, CA 92020
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    431 Graves Ave, El Cajon, CA 92020

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    • Retirement homes
    • 1,895 SF
    Off-Market
    Property ID
    US09-9021243
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retirement homes

    Property Details for 431 Graves Ave

    Year built
    1947
    Property type
    Retirement homes

    Description

    This exceptional El Cajon investment opportunity presents a 1947-built, 1,895 square foot apartment building situated on an expansive 11,588 square foot lot. Currently operating as a permitted independent living facility with a strong annual net operating income (NOI) exceeding $134,742, this property offers a 9.17% cap rate. The two, single-story buildings underwent renovations in 2016. The RM-6000 zoning allows for multifamily development, presenting significant value-add potential for an owner/user. The property boasts seven bedrooms and three bathrooms. Further opportunities exist to expand, potentially through the addition of accessory dwelling units (ADUs). The sale includes fully paid solar panels. Seller financing options are available, covering 40-50% of the purchase price. This property is priced at $1,470,000, translating to $775.73 per square foot. This is a rare chance to acquire a well-maintained, income-generating property with substantial upside potential in a desirable El Cajon location. The property's history as an independent living facility provides a solid foundation for continued operation or creative repositioning. The large lot size and favorable zoning provide flexibility for future development and expansion.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    El Cajon
    County
    San Diego
    State
    California
    Longitude
    -116.960342411
    Latitude
    32.799812379714

    Comparable in this City

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      Pending

      El Cajon Triplex with Pool

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    • $1,175,000
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      El Cajon Triplex Oasis

      Meticulously maintained triplex on oversized lot with resort-style living.
      477 Taft Ave, El Cajon, CA 92020
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    • $2,400,000

      Fletcher Hills Triplex Opportunity

      Well-maintained triplex in Fletcher Hills with income potential.
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      View Details

    Similar Nearby for Sale

    • $1,175,000
      Pending

      El Cajon Triplex with Pool

      Rare triplex on a large lot with resort-style pool.
      469-477 Taft Ave, El Cajon, CA 92020
      View Details
    • $1,175,000
      Pending

      El Cajon Triplex Oasis

      Meticulously maintained triplex on oversized lot with resort-style living.
      477 Taft Ave, El Cajon, CA 92020
      View Details
    • $2,400,000

      Fletcher Hills Triplex Opportunity

      Well-maintained triplex in Fletcher Hills with income potential.
      943 Dennstedt Pl, El Cajon, CA 92020
      View Details

    Similar Nearby for Lease

    • Contact for pricing
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      El Cajon Specialty Property

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      El Cajon Retail Opportunity

      Established retail location in El Cajon available for rent.
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      Retail Space on Fletcher Parkway

      Retail property available for lease on Fletcher Parkway.
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      3,304 SF

      El Cajon Warehouse Space

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      867 SF

      Remodeled Office Space Available

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      353 E Park Ave, El Cajon, CA 92020
      View Details
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    El Cajon, CA 92020
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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