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.