See all 7 photos
7 photos
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$1,395,000
Est. payment /mo
8 Beds
6 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Pending
Purchase Type For Sale
Subdivision La Mesa
MLS Listing ID 250040189
Bedrooms 8
Full Baths 4
Half Baths 4
Year Built 1964
Property Sub-Type Res Income 2-4 Units
Property Description
8615 Mellmanor Drive presents a rare opportunity to acquire a value-add fourplex in the highly sought-after La Mesa submarket, just blocks from Grossmont Center and minutes from San Diego State University. Built in 1964 and situated on a 10,086 square foot parcel, the 4,140 square foot building features four spacious townhome-style residences, each offering 2BR/1.5BA baths across approximately 960 square feet. Three of the four units benefit from in-unit laundry, and all include private ground-level patios. Current in-place rents remain significantly below market levels, positioning the property for immediate revenue growth through renovations and turnover. With a pro forma gross scheduled income of $124,560 and a projected net operating income of nearly $88,000, investors can achieve a 6.31% cap rate at asking, highlighting the asset's strong financial upside and long-term stability.
Location
State CA
County San Diego
Area East County
Interior
Fireplace No
Exterior
Fence Partial
View Y/N No
Roof Type Composition
Building
Story 2
Level or Stories 2
Others
Senior Community No
Tax ID 490-564-08-00
Acceptable Financing Assumable, Cal Vet, Cash, Conventional, Exchange, FHA, VA
Listing Terms Assumable, Cal Vet, Cash, Conventional, Exchange, FHA, VA
Virtual Tour https://www.propertypanorama.com/instaview/snd/250040189
Read Less Info
Listed by Sean Bascom South Coast Commercial, Inc.
Get More Information
QUICK SEARCH
- San Francisco, CA
- Oakland, CA
- San Diego, CA
- Berkeley, CA
- Palo Alto, CA
- San Jose, CA
- Concord, CA
- Fremont, CA
- Marin, CA
- Santa Clara, CA
- Daly City, CA
- San Ramon, CA
- Hercules, CA
- Vallejo, CA
- Benicia, CA
- Fairfield, CA
- Redwood City, CA
- Richmond, CA
- Atherton, CA
- Alameda, CA
- Hayward, CA
- Pleasanton, CA
- Livermore, CA
- San Leandro, CA
- Vacaville, CA
- Cupertino, CA
- Walnut Creek, CA
- Dublin, CA
- Castro Valley, CA
- Mill Valley, CA
- Tiburon, CA
- Sausalito, CA
- Napa, CA
- American Canyon , CA
- San Rafael, CA
- Mountain View, CA
- Sunnyvale, CA
- Los Gatos, CA
- Tracy, CA
- Brentwood, CA
- Oakley, CA
- Discovery Bay, CA
- Orinda, CA
- Moraga, CA
- Lafayette, CA
- Alamo, CA
- Foster City, CA