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428084 Schoolridge Lane

La Mesa CA 91941

6500 sq. ft.
Other
Currently for sale - view listing

Overview

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.

Features

6500 sq. ft. floor area
Other

Happy sellers in La Mesa

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We have insufficient information to provide an overview of customer satisfaction for La Mesa. Viewing the agent profiles, reviews and sales for La Mesa can provide insights for this location.

Local market activity for other properties in La Mesa

In the last 12 months, 4 other properties similar to 428084 Schoolridge Lane, have been sold.

This represents a 64% increase in other properties sales when compared to the previous 12 months.

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(619) 566-0008
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