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5590-5588 Shasta Lane 5590 Shasta Ln 3 Unit Apartment Building $1,950,000 ($650,000/Unit) 4.79% Cap Rate La Mesa, CA 91942
Investment Highlights
- Turnkey single-story asset with ADU potential
- Ample off-street parking for residents
- Easy access to major employment centers via Interstate-8 and Grossmont Transit Center
- Proximate to Sharp Grossmont Hospital and The Grossmont Shopping Center
- Diversified unit mix of one and three-bedroom floorplans
Executive Summary
We are pleased to present 5588-90 Shasta Ln, a meticulously designed triplex tucked in the rolling hills of Lake Murray, in the City of La Mesa, California. Built in 1957 and fully renovated in recent years, the complex is comprised of a large single story three-bedroom/two-bathroom single family home and two (2) single story one-bedroom/one-bathroom units spanning across a large 0,37-acre lot! The turnkey investment is poised for additional ADU development.
The property features private outdoor space for each unit, in unit laundry, fully appliance and kitchen packages, and single-story living attracting higher quality tenants. The spacious floorplans are well-appointed with remodeled interiors including central air conditioning, large closets, private patios/balconies, and upgraded fixtures throughout. Residents enjoy ample parking and quick access to Lake Murray Blvd.
Centrally located in La Mesa, the property is a short drive to Interstate-8, which serves as a critical interregional east/west travel corridor through San Diego County, and is one of the more heavily trafficked freeways. The property is only 1.2 miles from Sharp Grossmont Hospital and The Grossmont Shopping Center. Sharp Grossmont Hospital is East County’s largest health care facility with 524 beds, cutting edge medical care, and total patient revenue of over $3.7 billion. The Grossmont Center is an outdoor shopping mall with 100 unique stores, over 20 restaurants, and 10 large movie screens. The Grossmont Transit Center is 1.1 miles away from the property, and provides residents effective, high-quality rail and bus line transportation options for convenient access to major employment centers and popular destinations. San Diego State University, with a student body of over 34,000, is 3.1 miles West of the property along the I-8 corridor, and generates over $2.4 billion annually for the San Diego economy. Downtown San Diego is just a 15-minute drive. The property provides investors the rare opportunity to acquire a stable asset in one of the most desirable inland communities in San Diego County.
The property features private outdoor space for each unit, in unit laundry, fully appliance and kitchen packages, and single-story living attracting higher quality tenants. The spacious floorplans are well-appointed with remodeled interiors including central air conditioning, large closets, private patios/balconies, and upgraded fixtures throughout. Residents enjoy ample parking and quick access to Lake Murray Blvd.
Centrally located in La Mesa, the property is a short drive to Interstate-8, which serves as a critical interregional east/west travel corridor through San Diego County, and is one of the more heavily trafficked freeways. The property is only 1.2 miles from Sharp Grossmont Hospital and The Grossmont Shopping Center. Sharp Grossmont Hospital is East County’s largest health care facility with 524 beds, cutting edge medical care, and total patient revenue of over $3.7 billion. The Grossmont Center is an outdoor shopping mall with 100 unique stores, over 20 restaurants, and 10 large movie screens. The Grossmont Transit Center is 1.1 miles away from the property, and provides residents effective, high-quality rail and bus line transportation options for convenient access to major employment centers and popular destinations. San Diego State University, with a student body of over 34,000, is 3.1 miles West of the property along the I-8 corridor, and generates over $2.4 billion annually for the San Diego economy. Downtown San Diego is just a 15-minute drive. The property provides investors the rare opportunity to acquire a stable asset in one of the most desirable inland communities in San Diego County.
Property Facts
| Price | $1,950,000 | Apartment Style | Low-Rise |
| Price Per Unit | $650,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.38 AC |
| Cap Rate | 4.79% | Building Size | 2,532 SF |
| Gross Rent Multiplier | 13.77 | Average Occupancy | 100% |
| No. Units | 3 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1957 |
| Property Subtype | Apartment | Parking Ratio | 2.86/1,000 SF |
| Zoning | R3 - R3 zoning & lot size also allows for development of 5 additional detached (ADU) units, or a maximum of 10-20 consecutive units up to 5 floors through | ||
| Price | $1,950,000 |
| Price Per Unit | $650,000 |
| Sale Type | Investment |
| Cap Rate | 4.79% |
| Gross Rent Multiplier | 13.77 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.38 AC |
| Building Size | 2,532 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1957 |
| Parking Ratio | 2.86/1,000 SF |
| Zoning | R3 - R3 zoning & lot size also allows for development of 5 additional detached (ADU) units, or a maximum of 10-20 consecutive units up to 5 floors through |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Fireplace
- Microwave
- Storage Space
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Tile Floors
- Crown Molding
- Double Vanities
- Eat-in Kitchen
- Kitchen
- Granite Countertops
- Hardwood Floors
- Vaulted Ceiling
- High Speed Internet Access
- Ice Maker
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Sunroom
- Carpet
- Yard
- Attic
- Breakfast Nook
- Deck
- Dining Room
- Double Pane Windows
- Family Room
- Framed Mirrors
- Freezer
- Garden
- Handrails
- Island Kitchen
- Lawn
- Linen Closet
- Loft Layout
- Office
- Porch
- Skylights
Site Amenities
- Courtyard
- Fenced Lot
- Laundry Facilities
- Picnic Area
- Gated
- Furnished Units Available
- Guest Apartment
- Gas Range
- Smoke Free
- Walking/Biking Trails
- Wi-Fi
- Storage Space
- Community-Wide WiFi
- Lake Access
- Multi Use Room
- Sundeck
- Zen Garden
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | $3,000 | 516 - 1,032 |
| 3+2 | 1 | $5,800 | 1,500 |
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
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Contact the Sale Advisor
5590-5588 Shasta Lane | 5590 Shasta Ln