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The Arches 4940 Comanche Dr 18 Unit Apartment Building $4,850,000 ($269,444/Unit) 4.90% Cap Rate La Mesa, CA 91942
INVESTMENT HIGHLIGHTS
- The Arches is an 18 -unit apartment building in a great La Mesa location. It has been well managed and has a history of low vacancy.
EXECUTIVE SUMMARY
Rare find in La Mesa! Great location! 5.02 Cap Rate on market rents. Perfect Value Add opportunity! Price just reduced $25,000!
A well-maintained, well-managed, 18-unit property close to downtown La Mesa. Great Mix. Priced to sell at $269,444/unit.
Although it has been updated as needed, it's a perfect property to take to the next level! VALUE ADD. Rehab kitchens and bathrooms and
raise rents accordingly. Great cash flow opportunity!
A well-maintained, well-managed, 18-unit property close to downtown La Mesa. Great Mix. Priced to sell at $269,444/unit.
Although it has been updated as needed, it's a perfect property to take to the next level! VALUE ADD. Rehab kitchens and bathrooms and
raise rents accordingly. Great cash flow opportunity!
DATA ROOM Click Here to Access
PROPERTY FACTS
| Price | $4,850,000 | Apartment Style | Low-Rise |
| Price Per Unit | $269,444 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.46 AC |
| Cap Rate | 4.90% | Building Size | 10,640 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 96% |
| Gross Rent Multiplier | 12.1 | No. Stories | 2 |
| No. Units | 18 | Year Built | 1966 |
| Property Type | Multifamily | Parking Ratio | 1.39/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | MR-1500, San Diego - Commercially zoned in a mixed area of residential, commercial, and retail. The neighborhood is mostly single family homes. | ||
| Price | $4,850,000 |
| Price Per Unit | $269,444 |
| Sale Type | Investment |
| Cap Rate | 4.90% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 12.1 |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.46 AC |
| Building Size | 10,640 SF |
| Average Occupancy | 96% |
| No. Stories | 2 |
| Year Built | 1966 |
| Parking Ratio | 1.39/1,000 SF |
| Zoning | MR-1500, San Diego - Commercially zoned in a mixed area of residential, commercial, and retail. The neighborhood is mostly single family homes. |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Disposal
- Ceiling Fans
- Carpet
- Vinyl Flooring
SITE AMENITIES
- Courtyard
- Laundry Facilities
- Pool
- Property Manager on Site
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 14 | $1,750 | 520 - 7,280 |
| 2+2 | 4 | $1,900 | 840 - 3,360 |
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Walk Score®
Very Walkable (79)
PROPERTY TAXES
| Parcel Number | 469-160-09 | Improvements Assessment | $1,757,935 |
| Land Assessment | $1,438,311 | Total Assessment | $3,196,246 |
PROPERTY TAXES
Parcel Number
469-160-09
Land Assessment
$1,438,311
Improvements Assessment
$1,757,935
Total Assessment
$3,196,246
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The Arches | 4940 Comanche Dr
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