9
See all 9 photos
$2,500,000
Est. payment /mo
6,500 SqFt
New
4280-84 Schoolridge Ln La Mesa, CA 91941
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Key Details
Property Type Single Family Home
Sub Type Com-Res Income
Listing Status Active
Purchase Type For Sale
Square Footage 6,500 sqft
Price per Sqft $384
MLS Listing ID 2600350
Property Sub-Type Com-Res Income
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 East County
Interior
Heating Wall
Flooring Vinyl
Fireplace No
Laundry Owned
Exterior
Parking Features Spaces
View Y/N No
Building
Dwelling Type Free Standing
Story 2
Others
Senior Community No
Tax ID 475-100-14-00
Special Listing Condition Call Agent
Listed by Jensen I Escobar Palm Tree Properties