PROPERTY DESCRIPTION

We are proud presents the Colonial Gardens Apartments, a spacious apartment in El Cajon, California. The Colonial Gardens Apartments offers several amenities to its residents. The property is secured with controlled access and has a charming courtyard-style community.  There is an attractive Fannie Mae loan on this property that can be assumed.  The interest rate is 3.32%, fully amortized over 30 years, and due in 2027.  The current balance on the loan is $4,849,963.  With current interest rates averaging 6% or higher, the assumption of the existing loan creates a desirable return on investment.  The property also includes a BBQ area and on-site laundry facilities. The owner has instituted a utility billing system allowing the tenants to pay for electricity, gas, water, sewer, and trash. One of the major advantages of this apartment is that it comes with off-street parking, which is a huge convenience in a busy location.  The apartment itself has newer energy-efficient air conditioning, which means that the resident can enjoy a comfortable living space while also keeping their energy bills low. Additionally, the apartment has been recently painted and is in very clean condition.