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Value-Add Cottage Style Apartment Homes 5015 Comanche Dr 12 Unit Apartment Building $4,500,000 ($375,000/Unit) 5.05% Cap Rate La Mesa, CA 91942
INVESTMENT HIGHLIGHTS
- Located in One of San Diego’s Strongest Rental Markets ~ La Mesa
- All 3Bedroom Units Each w/ Private Yard, Off-Street Parking, & Washer/Dryer
- Extremely Rare and Unique Asset
- Twelve (12) Cottage Style Apartment Homes (10 Buildings)
- Value Add Opportunity on a Large 41,817sf Lot
- North of El Cajon Blvd Near Shops, Restaurants, and Local Services with Close Proximity to I-8
EXECUTIVE SUMMARY
Located North of El Cajon Blvd in one of San Diego’s strongest rental markets, this unique 12-Unit multifamily community consists of ten (10) separate structures on a large 41,817sf lot. The Cottages on Comanche are twelve (12) 3Bedroom / 1 Bathroom units each with their own private yard, off-street parking, and washer/dryer.
The detached cottage style homes and 27% upside in rental income make this value-add opportunity extremely rare. With proximity to shops, restaurants, local services, and I-8, you won’t want to miss the chance to acquire this incredible community.
The detached cottage style homes and 27% upside in rental income make this value-add opportunity extremely rare. With proximity to shops, restaurants, local services, and I-8, you won’t want to miss the chance to acquire this incredible community.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$356,520
|
$38.09
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$10,696
|
$1.14
|
| Effective Gross Income |
$345,824
|
$36.95
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$118,711
|
$12.68
|
| Net Operating Income |
$227,113
|
$24.26
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $356,520 |
| Annual Per SF | $38.09 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $10,696 |
| Annual Per SF | $1.14 |
| Effective Gross Income | |
|---|---|
| Annual | $345,824 |
| Annual Per SF | $36.95 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $118,711 |
| Annual Per SF | $12.68 |
| Net Operating Income | |
|---|---|
| Annual | $227,113 |
| Annual Per SF | $24.26 |
PROPERTY FACTS
| Price | $4,500,000 | Apartment Style | Garden |
| Price Per Unit | $375,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.96 AC |
| Cap Rate | 5.05% | Building Size | 9,360 SF |
| Gross Rent Multiplier | 12.62 | Average Occupancy | 100% |
| No. Units | 12 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1957 |
| Property Subtype | Apartment | Parking Ratio | 2.99/1,000 SF |
| Zoning | R3 - Multi-Family | ||
| Price | $4,500,000 |
| Price Per Unit | $375,000 |
| Sale Type | Investment |
| Cap Rate | 5.05% |
| Gross Rent Multiplier | 12.62 |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.96 AC |
| Building Size | 9,360 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1957 |
| Parking Ratio | 2.99/1,000 SF |
| Zoning | R3 - Multi-Family |
AMENITIES
UNIT AMENITIES
- Washer/Dryer Hookup
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+1 | 12 | $2,476 | 780 |
1 1
Walk Score®
Very Walkable (79)
PROPERTY TAXES
| Parcel Number | 470-091-32 | Improvements Assessment | $2,525,979 (2025) |
| Land Assessment | $1,137,827 (2025) | Total Assessment | $3,663,806 (2025) |
PROPERTY TAXES
Parcel Number
470-091-32
Land Assessment
$1,137,827 (2025)
Improvements Assessment
$2,525,979 (2025)
Total Assessment
$3,663,806 (2025)
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Value-Add Cottage Style Apartment Homes | 5015 Comanche Dr
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