Cajon Senior Villas

Cajon Senior Villas is ideally located within proximity to schools, Bostonia Park, the Parkway Plaza Mall, the East County Performing Arts Center, the Arnele Avenue Trolley Station, Interstate-8, and Highway 67. The densely populated community of El Cajon presents some excellent multifamily rental market fundamentals such as proximity to high-wage jobs, an increasing average household income, no new deliveries scheduled for 2022, and significant discount to home ownership. Cajon Senior Vias offers a $1,620 discount to home ownership. According to AxioMetrics, the El Cajon submarket is projected to experience 13.3% rent growth and the occupancy rate is expected to increase to 99.4%. Cajon Senior Villas provides easy access Arnele Avenue Station, which runs on San Diego Trolley’s Orange and Green lines connecting to major employers in the Greater San Diego region. The Arnele Avenue Station is about a 15-minute ride to Downtown San Diego, giving residents access to over 105,000 jobs, 4,000 businesses, and 13 million square feet of office space. Future developments Downtown include 13 major office projects currently in the process of delivering a total of 4.6 million square feet of office space and 20,000 new jobs that will further fuel Downtown’s stunning transformation into a thriving urban metropolis. The Property is also conveniently located adjacent to Interstate 8 and just east of Highway 67, connecting residents to over 400,000 jobs in Mission Valley, Kearny Mesa/Clairemont and Golden Triangle within a 20-minute drive or less.South Coast Commercial, Inc. is pleased to present 1219 Persimmon Avenue, a charming 46-unit multifamily community located in El Cajon, California. Built in 1990, this well-maintained asset consists of (45) 516 Square foot One Bedroom / One Bath units & (1) 600 Square foot One Bedroom / One Bath permitted ADU. All second-floor units feature taller vaulted ceilings for a spacious open feel. There is the ability for a buyer to assume the current debt at an interest rate of 3.5% Interest only. Contact Brokers for details. Must be a qualified borrower and subject to approval by the current noteholder. This asset presents significant rental upside and is extremely easy to manage given the current tenant profile. The property is restricted to senior tenants (62+). There are no income-related restrictions currently in place. The demand for senior housing is growing rapidly and according to recent studies, the aging population is projected to increase significantly in the coming years leading to a surge in demand for affordable senior housing options. The baby boomer generation, one of the largest demographic groups in history, is reaching retirement age. This cohort seeks housing options that offer convenience, accessibility, and a sense of community, making senior living communities an attractive opportunity. Furthermore, in response to the pandemic disruption, fewer senior housing projects were proposed in recent years and builders are factoring in higher borrowing costs resulting in a small construction pipeline for 2023 and likely the next few years which will only add to current demand for Senior housing moving forward.