4280-4284 Schoolridge Ln - Apartments FOR SALE


La Mesa, CA 91941
$2,500,000 USD
619-616-7332
4280-4284 Schoolridge Ln, La Mesa, CA for Sale
$2,500,000 USD
Apartments - FOR SALE
1/11
null | 5.23% Cap Rate

4280-4284 Schoolridge Ln
La Mesa, CA 91941


HIGHLIGHTS

  • 100% Occupied with Rental Upside
  • 7 out of 8 Units Recently Renovated
  • High Demand Rental Market
  • Ample On-Site Parking

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.

FOR SALE DETAILS

PRICE

$2,500,000 USD

PRICE/SF

$385 USD /SF

# OF UNITS

8

PRICE/UNIT

$312,500

CAP RATE

5.23%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1958

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,518 SF

ZONING

-

APN/PARCEL ID

475-100-14

ASK ABOUT THIS PROPERTY

Erik EgelkoPalm Tree PropertiesMore Info
619-616-7332

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Erik EgelkoPalm Tree PropertiesMore Info
619-616-7332

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.