986 Merritt Drive, El Cajon, California 92020, El Cajon, 92020 - 4 bed, 3 bath
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El Cajon, California 92020
This Renovated Multi-Unit Property is a Strong Value Opportunity, listed at $899,000—positioned well below the $961,847 Fair Market Value by 6%. This valuation gap provides $62,847 in Instant Equity for the incoming buyer. Boasting an Excellent Condition Rating following $150,000 in recent capital improvements, the home features a modernized kitchen, owned solar panels, and a functional 1-bedroom ADU for immediate rental income. Located near Hwy 8, it offers a turnkey lifestyle with significant financial upside. This is an ideal acquisition for Owner-Occupants seeking a house-hack or Buy-and-Hold Investors targeting high-yield assets.
Property is new construction or fully renovated.
The property has undergone an extensive $150,000 recent renovation that effectively modernized the 1946 structure. The kitchen features contemporary white shaker cabinetry, stone countertops, and stainless steel appliances, while the bathrooms have been fully updated with modern tile work and fixtures. With new flooring throughout, recessed lighting, owned solar panels, and a fully functional ADU, the home meets the criteria for excellent condition due to the comprehensive nature of the recent upgrades and lack of deferred maintenance.
The property features a 1-bedroom, 1-bathroom ADU, providing a turnkey opportunity for significant rental income or multi-generational living.
With $150,000 recently invested in repairs and enhancements, the home offers modernized key components and reduced immediate maintenance requirements.
The inclusion of owned solar panels provides substantial long-term energy savings and increases the property's value without the burden of a lease.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =8712, other record lot size in square feet = 8575. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 5.
Originally built in 1946, the home may possess aging infrastructure or vintage systems that require more frequent oversight than a modern build.
The presence of month-to-month tenants may complicate the timeline for buyers seeking immediate full possession or those wishing to renovate the entire site.
Welcome to 986 Merritt Dr — a hidden gem in the heart of El Cajon! Nestled on a quiet residential street, this charming home offers comfort, convenience, and classic Southern California living. Enjoy a functional layout filled with natural light, ideal for both everyday living and entertaining. The property features a spacious yard with endless potential for outdoor gatherings, gardening, or future customization. 4 bedroom 2 bath home with a 1 bedroom, 1 bath ADU. Tenants on month to month. The property has solar panels that are owned not leased. The property is currently rented to one tenant but could generate more income by renting the ADU separately. Motivated seller! Located just minutes from Hwy 8, shopping, dining, schools, and parks, this home offers easy access to everything El Cajon has to offer while maintaining a peaceful neighborhood feel. Whether you’re a first-time buyer, growing household, or savvy investor, this is an opportunity you won’t want to miss. Significant recent improvements! The seller has spent $150,000 on repairs and property enhancements, thoughtfully upgrading key components to ensure quality, comfort, and long-term durability. A fantastic opportunity to own a well-maintained and improved home.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 55% |
| Baths | 3.0 | 2.0 | 59% |
| Square foot | 2,462 | 1,920 | 74% |
| Lot Size | 8,712 | 9,200 | 48% |
| Price | $899.0K | $930.0K | 43% |
| Price per sq ft | $365 | $523 | 7% |
| Built year | 1946 | 1965 | 3% |
| HOA | $0 | $0 | 50% |
| Days on market | 72 | 153 | 21% |
Feb 13, 2026
$899,000
$1,050,000
-14% Price Drop
Initial Listing
Feb 9, 2026
$1,050,000
Initial Listing
May 31, 2024
$825,000
Public Record
Dec 11, 2008
$225,000
Public Record
Sep 17, 1999
$167,500
Public Record