Log In/Sign Up
Your email has been sent.
Foothill Manor 8969 Grossmont Blvd 22 Unit Apartment Building $7,500,000 ($340,909/Unit) 4.95% Cap Rate La Mesa, CA 91941
Executive Summary
The offering presents the opportunity to acquire a highly renovated 22-unit multifamily community located in the City of La Mesa, California.? The property features a well-balanced unit mix of ten (10) 1-bedroom/1-bath units and twelve (12) 2-bedroom/1-bath units, all of which have been extensively upgraded with modern interior finishes.? Notably, all 2-bedroom units are equipped with in-unit washer/dryers, a highly desirable amenity in the submarket.?
Since 2022, current ownership has invested approximately $1.2 million in capital improvements and interior renovations.? These upgrades include fully remodeled unit interiors, exterior enhancements, and targeted improvements to select building systems.? The property has been successfully repositioned as a stabilized, turnkey asset.?
The property benefits from strong regional accessibility, with direct access to Interstate 8 and State Route 125, as well as proximity to public transit.? Two trolley stations are located within one mile of the property and are serviced by the Orange Line, providing convenient connectivity to Downtown San Diego and beyond.?
Foothill Manor represents an opportunity to acquire a fully renovated, institutionally upgraded multifamily asset located in a supply-constrained submarket with strong long-term rental demand fundamentals.?
Since 2022, current ownership has invested approximately $1.2 million in capital improvements and interior renovations.? These upgrades include fully remodeled unit interiors, exterior enhancements, and targeted improvements to select building systems.? The property has been successfully repositioned as a stabilized, turnkey asset.?
The property benefits from strong regional accessibility, with direct access to Interstate 8 and State Route 125, as well as proximity to public transit.? Two trolley stations are located within one mile of the property and are serviced by the Orange Line, providing convenient connectivity to Downtown San Diego and beyond.?
Foothill Manor represents an opportunity to acquire a fully renovated, institutionally upgraded multifamily asset located in a supply-constrained submarket with strong long-term rental demand fundamentals.?
Property Facts
| Price | $7,500,000 | Apartment Style | Low-Rise |
| Price Per Unit | $340,909 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.50 AC |
| Cap Rate | 4.95% | Building Size | 19,398 SF |
| Gross Rent Multiplier | 13.3 | No. Stories | 2 |
| No. Units | 22 | Year Built | 1957 |
| Property Type | Multifamily | Parking Ratio | 1.05/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R-3 - Multifamily | ||
| Price | $7,500,000 |
| Price Per Unit | $340,909 |
| Sale Type | Investment |
| Cap Rate | 4.95% |
| Gross Rent Multiplier | 13.3 |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.50 AC |
| Building Size | 19,398 SF |
| No. Stories | 2 |
| Year Built | 1957 |
| Parking Ratio | 1.05/1,000 SF |
| Zoning | R-3 - Multifamily |
Amenities
Unit Amenities
- Balcony
- Heating
- Kitchen
- Refrigerator
- Tub/Shower
Site Amenities
- Courtyard
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | - | - |
| 2+1 | 12 | - | - |
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
40/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 494-840-11 | Improvements Assessment | $3,139,053 |
| Land Assessment | $1,840,134 | Total Assessment | $4,979,187 |
Property Taxes
Parcel Number
494-840-11
Land Assessment
$1,840,134
Improvements Assessment
$3,139,053
Total Assessment
$4,979,187
1 of 10
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
Foothill Manor | 8969 Grossmont Blvd
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.