8615 Mellmanor Dr, La Mesa, CA 91942

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Kobe Zimmerman

Berkshire Hathaway Home Services California Properties

kobezimmerman@bhhscal.com +1(858) 753-3353

$1,395,000

Est. payment - /mo

8 Beds

6 Baths

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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

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Listed by Sean Bascom South Coast Commercial, Inc.

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8615 Mellmanor Dr La Mesa, CA 91942