1990 Cottonwood Circle, 1996, El Centro, CA 92243 (MLS# 219113460)

1990 Cottonwood Circle, 1996, El Centro, CA 92243

$2,875,000

Property Type: Commercial Sale Square Footage: 18,444 Status: Closed

Current Price: $2,875,000 List Date: 6/27/2024 Last Modified: 11/20/2024

Overview

Description

A rare investment opportunity in El Centro! This is your opportunity to own a long time family owned 28-unit apartment complex with 7 buildings. The units range from 1 bedroom, 1 bath to 2 bedroom, 1 bath. The complex features charming courtyards and some covered carports. It is conveniently located near the Interstate 8 freeway onramp and Imperial Avenue, close to El Centro Regional Hospital and local schools. The property has long-term tenants with low turnover. Here's your chance to add to your portfolio or create generational wealth.

Listing Details MLS# 219113460

General Property Information

Approx SqFt: 18444
SqFt Source: Assessor
Zoning: R-3
Year Built: 1977

Property Features

Business Type: Residential Sale Type: Standard Financing: Submit Listing Terms: Standard Sale Owner Pays: Insurance; Sewer; Taxes; Water Tenant Pays: A/C; Electric Asset Class: Multi-Family Land Use: Multi-Family Exterior Construction: Stucco Heating: Electric Laundry: Community; Room Roofing: Shingle Water: Public Utilities: Electricity Connected Disclosures: Property As Is

Listing Location and Property Info

APN: 052334002000
Original List Price: 3499990
Property Sub-Type: Multi Family
Street #: 1990
Street Name: Cottonwood
Street Suffix: Circle
County: Imperial
State: CA
Zip Code: 92243
Area: ELCN - El Centro
Country: US

Status Change Info

Status Change Date: 2024-08-27
Pending Date: 2024-07-09
Closed Date: 2024-08-21
Closed Price: 2875000

Expenses

Annual Electric Expense: 2703
Annual Insurance Expense: 18000
Annual Maintenance Expense: 3000
Annual Professional Management Expense: 14622
Annual Resident Manager Expense: 3000
Annual Trash Expense: 4239
Annual Water/Sewer Expense: 7392

Income

Effective Gross: 254064
Laundry Income: 2400

More Information

Parking SpacesInformation

Total Carport Spaces: 14
Total Uncovered/Assigned Spaces: 20
Total Parking Spaces: 34

Listing Office: Prince & Associates Realtors

Listing Agent: Sherry Cowie

Last Updated: November - 20 - 2024

Information deemed reliable but not guaranteed.