11
See all 11 photos
$2,500,000
Est. payment /mo
New
4280 Schoolridge Ln La Mesa, CA 91941
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Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 2600350SD
HOA Y/N No
Property Sub-Type Mixed Use
Property Description
Palm Tree Properties is pleased to present an 8-unit multifamily property located in La Mesa, California. The property consists of (7) two-bedroom units and (1) one-bedroom unit within a single apartment complex constructed in 1958. The asset is 100% occupied and currently operated with a RUBS program in place, allowing for reimbursement of utility expenses. Seven of the eight units have been renovated, with one remaining unit providing additional value-add potential through renovation and rent alignment. At the current level of operations, the property is performing at an estimated 5.23% cap rate. The combination of stabilized occupancy, recent unit upgrades, and partial renovation completion offers a balanced profile of in-place income with remaining upside. The property is located in an established La Mesa rental submarket with consistent demand for two-bedroom units and proximity to major transportation corridors, retail, and employment centers. Additional financial details, rent roll, and underwriting assumptions are available upon request in the Offering Memorandum.
Location
State CA
County San Diego
Area 91941 - La Mesa
Interior
Heating Wall Furnace
Fireplace No
Others
Tax ID 4751001400
Listed by Jensen Escobar Palm Tree Properties