8969 Grossmont Blvd - Apartments FOR SALE


La Mesa, CA 91941
$7,500,000 USD
858-369-3085
8969 Grossmont Blvd, La Mesa, CA for Sale
$7,500,000 USD
Apartments - FOR SALE
1/9
null | 4.95% Cap Rate

8969 Grossmont Blvd
La Mesa, CA 91941


OVERVIEW

The offering presents the opportunity to acquire a highly renovated 22-unit multifamily community located in the City of La Mesa, California.? The property features a well-balanced unit mix of ten (10) 1-bedroom/1-bath units and twelve (12) 2-bedroom/1-bath units, all of which have been extensively upgraded with modern interior finishes.? Notably, all 2-bedroom units are equipped with in-unit washer/dryers, a highly desirable amenity in the submarket.? Since 2022, current ownership has invested approximately $1.2 million in capital improvements and interior renovations.? These upgrades include fully remodeled unit interiors, exterior enhancements, and targeted improvements to select building systems.? The property has been successfully repositioned as a stabilized, turnkey asset.? The property benefits from strong regional accessibility, with direct access to Interstate 8 and State Route 125, as well as proximity to public transit.? Two trolley stations are located within one mile of the property and are serviced by the Orange Line, providing convenient connectivity to Downtown San Diego and beyond.? Foothill Manor represents an opportunity to acquire a fully renovated, institutionally upgraded multifamily asset located in a supply-constrained submarket with strong long-term rental demand fundamentals.?

FOR SALE DETAILS

PRICE

$7,500,000 USD

PRICE/SF

$387 USD /SF

# OF UNITS

22

PRICE/UNIT

$340,909

CAP RATE

4.95%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Foothill Manor

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1957

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.5 AC

LAND SF

21,780 SF

ZONING

R-3

APN/PARCEL ID

494-840-11

ASK ABOUT THIS PROPERTY

Merrick MatricardiKidder MathewsMore Info
858-369-3085

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

Merrick MatricardiKidder MathewsMore Info
858-369-3085

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