5590 Shasta Ln - Apartments FOR SALE


La Mesa, CA 91942
$1,950,000 USD
503-929-9432
5590 Shasta Ln, La Mesa, CA for Sale
$1,950,000 USD
Apartments - FOR SALE
1/52
null | 4.79% Cap Rate

5590 Shasta Ln
La Mesa, CA 91942


HIGHLIGHTS

  • Turnkey single-story asset with ADU potential
  • Proximate to Sharp Grossmont Hospital and The Grossmont Shopping Center
  • Ample off-street parking for residents
  • Diversified unit mix of one and three-bedroom floorplans
  • Easy access to major employment centers via Interstate-8 and Grossmont Transit Center

OVERVIEW

We are pleased to present 5588-90 Shasta Ln, a meticulously designed triplex tucked in the rolling hills of Lake Murray, in the City of La Mesa, California. Built in 1957 and fully renovated in recent years, the complex is comprised of a large single story three-bedroom/two-bathroom single family home and two (2) single story one-bedroom/one-bathroom units spanning across a large 0,37-acre lot! The turnkey investment is poised for additional ADU development. The property features private outdoor space for each unit, in unit laundry, fully appliance and kitchen packages, and single-story living attracting higher quality tenants. The spacious floorplans are well-appointed with remodeled interiors including central air conditioning, large closets, private patios/balconies, and upgraded fixtures throughout. Residents enjoy ample parking and quick access to Lake Murray Blvd. Centrally located in La Mesa, the property is a short drive to Interstate-8, which serves as a critical interregional east/west travel corridor through San Diego County, and is one of the more heavily trafficked freeways. The property is only 1.2 miles from Sharp Grossmont Hospital and The Grossmont Shopping Center. Sharp Grossmont Hospital is East County’s largest health care facility with 524 beds, cutting edge medical care, and total patient revenue of over $3.7 billion. The Grossmont Center is an outdoor shopping mall with 100 unique stores, over 20 restaurants, and 10 large movie screens. The Grossmont Transit Center is 1.1 miles away from the property, and provides residents effective, high-quality rail and bus line transportation options for convenient access to major employment centers and popular destinations. San Diego State University, with a student body of over 34,000, is 3.1 miles West of the property along the I-8 corridor, and generates over $2.4 billion annually for the San Diego economy. Downtown San Diego is just a 15-minute drive. The property provides investors the rare opportunity to acquire a stable asset in one of the most desirable inland communities in San Diego County.

FOR SALE DETAILS

PRICE

$1,950,000 USD

PRICE/SF

$770 USD /SF

# OF UNITS

3

PRICE/UNIT

$650,000

CAP RATE

4.79%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

5590-5588 Shasta Lane

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1957

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.38 AC

LAND SF

16,424 SF

ZONING

R3

APN/PARCEL ID

464-292-17,464-292-17-00

ASK ABOUT THIS PROPERTY

Graeme HendersonMarcus & MillichapMore Info
503-929-9432

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Graeme HendersonMarcus & MillichapMore Info
503-929-9432

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