8695 Mellmanor Drive

8695 Mellmanor Drive ,
La Mesa, CA 91942

 

$1,195,000
Offering Price
14.70
GRM
$298,750
Price Per Unit
4
Number of Units
4.73%
Cap Rate
4,140
Building SF
$1,195,000
Offering Price
14.70
GRM
$298,750
Price Per Unit
4
Number of Units
4.73%
Cap Rate
4,140
Building SF

Investment Summary

  • 8695 Mellmanor Drive is a 4 unit apartment complex in the highly desired community of La Mesa. It was originally built in 1964 and consists of a structure on a 10,018 lot. The property has a great unit mix of all 2 bedroom 1.5 bath. These spacious town homes style rentals are approx 1,035 sq ft each for a total rentable square feet of 4,140. Every unit has individual laundry, central air conditioning, private yards, dishwashers, and an off street parking space.The ownership has maintained the property over time with the most recent improvements including replacing fascia, fully renovating a unit, and resurfacing the parking lot. With the cash flow, highly sought after pocket north of the 8, convenient access to shopping, restaurants, trolley stations, and freeway this is the caliber of assets that rarely come available yet truly has it all.

Location Summary

  • La Mesa is known as the Jewel of the Hills with its tree-lined neighborhoods, its downtown village, and it’s very walkable streets set in the rolling hills of southwestern San Diego. La Mesa is the gateway to East County with access to all areas of San Diego through three major freeways, two trolley lines and five trolley stations. A vibrant city, La Mesa is home to the Mt. Helix Park and Amphitheater, Lake Murray recreation area, and Mission Trails Park, including Cowles Mountain. Also nearby are Sun Valley Fairways Golf Course, SDSU, shopping, restaurant, theaters and the San Diego Trolley. La Mesa borders the Lemon Grove/Spring Valley to the South, Santee to the North, El Cajon to the East and San Diego to the West. Only a 15 minute drive to Downtown San Diego and the beaches, La Mesa is a short drive to all major employment centers including Mission Valley, Kearny Mesa, Downtown San Diego, University Towne Centre, Sorrento Valley, North and South San Diego County. La Mesa’s near perfect climate, its 14 public parks, a variety of housing, and multiple commercial and retail areas, make it a highly desirable community in which to live work and conduct business.
  • 8695 Mellmanor Drive is a 4 unit apartment complex in the highly desired community of La Mesa. It was originally built in 1964 and consists of a structure on a 10,018 lot. The property has a great unit mix of all 2 bedroom 1.5 bath. These spacious town homes style rentals are approx 1,035 sq ft each for a total rentable square feet of 4,140. Every unit has individual laundry, central air conditioning, private yards, dishwashers, and an off street parking space.The ownership has maintained the property over time with the most recent improvements including replacing fascia, fully renovating a unit, and resurfacing the parking lot. With the cash flow, highly sought after pocket north of the 8, convenient access to shopping, restaurants, trolley stations, and freeway this is the caliber of assets that rarely come available yet truly has it all.
FOR MORE DETAILS CONTACT
Kevin Hemstreet
Managing Principal
(619) 309-9296
hemstreet@scc1031.com
BRE# 01490629