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7932-7936 La Mesa Blvd 18 Unit Apartment Building $4,675,000 ($259,722/Unit) 5% Cap Rate La Mesa, CA 91942
Investment Highlights
- Excellent La Mesa village location.
- Located near everything: schools, shops, restaurants, specialty stores and downtown La Mesa. Fantastic location.
- Property boasts mature landscape and palms trees, a large parking lot with entrance and exit driveways, and great street appeal.
Executive Summary
Huge price reduction! Seller says sell. $259,722/unit in prime La Mesa!
This property has been professionally managed, and well-maintained for the last several years. The two commercial units are being used as one space a real estate office.
Some of the units have maintained vintage colored tile in the kitchens and bathrooms. Other units have been updated. The units are quite charming with hardwood floors and tile kitchens and bathrooms. Mature landscape. Security screen doors. Ingress and Egress driveway with recently paved parking lot. Plenty of off-street parking. Owned laundry.
This property has been professionally managed, and well-maintained for the last several years. The two commercial units are being used as one space a real estate office.
Some of the units have maintained vintage colored tile in the kitchens and bathrooms. Other units have been updated. The units are quite charming with hardwood floors and tile kitchens and bathrooms. Mature landscape. Security screen doors. Ingress and Egress driveway with recently paved parking lot. Plenty of off-street parking. Owned laundry.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $4,675,000 | Apartment Style | Low-Rise |
| Price Per Unit | $259,722 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.44 AC |
| Cap Rate | 5% | Building Size | 14,108 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 12.9 | No. Stories | 2 |
| No. Units | 18 | Year Built | 1953 |
| Property Type | Multifamily | Parking Ratio | 1.56/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | C - The property is zoned commercial. There are 16 apartments and 2 commercial units being used as one big office. | ||
| Price | $4,675,000 |
| Price Per Unit | $259,722 |
| Sale Type | Investment |
| Cap Rate | 5% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 12.9 |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.44 AC |
| Building Size | 14,108 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1953 |
| Parking Ratio | 1.56/1,000 SF |
| Zoning | C - The property is zoned commercial. There are 16 apartments and 2 commercial units being used as one big office. |
Amenities
Unit Amenities
- Heating
- Ceiling Fans
- Kitchen
- Carpet
- Built-In Bookshelves
- Vinyl Flooring
Site Amenities
- 24 Hour Access
- Fenced Lot
- Laundry Facilities
- Trash Pickup - Curbside
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | $1,500 | 400 |
| 1+1 | 11 | $1,650 | 550 |
| 2+1 | 4 | $1,850 | 700 |
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Walk Score®
Very Walkable (89)
Property Taxes
| Parcel Number | 470-340-03 | Improvements Assessment | $1,200,637 (2025) |
| Land Assessment | $1,477,708 (2025) | Total Assessment | $2,678,345 (2025) |
Property Taxes
Parcel Number
470-340-03
Land Assessment
$1,477,708 (2025)
Improvements Assessment
$1,200,637 (2025)
Total Assessment
$2,678,345 (2025)
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7932-7936 La Mesa Blvd
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