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El Cajon Apartments Trade with Assumable Debt
Northmarq SVP Benn Vogelsang arranged the $5,775,000 sale of a 22-unit apartment building located at 299 Wisconsin Ave. in El Cajon. Both the buyer and seller were represented by Vogelsang.
Wisconsin EP, LLC of Santa Ana purchased the property from Wisconsin Apartments, LLC of El Cajon. The property was in escrow for approximately 70 days.
“The assumable debt on this purchase and upside in rents made this property attractive to the buyer,” said Vogelsang.
Built in 1986, the three-building apartment community consists of 875- to 1,076-square-foot two- and three-bedroom units. It’s located in downtown El Cajon, 17 miles east of downtown San Diego, with an average market rent of $2,495.
Residents enjoy a centralized location close to Main Street shopping, restaurants and highways. Community amenities include an onsite laundry facility, storage space, assigned and off-street parking, and onsite management and maintenance.
- ◦Sale/Acquisition




