8
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$1,395,000
Est. payment /mo
New
8615 Mellmanor Dr La Mesa, CA 91942
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Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Subdivision La Mesa
MLS Listing ID 250040189SD
HOA Y/N No
Year Built 1964
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 91942 - La Mesa
Interior
Cooling None
Fireplace No
Exterior
Fence Partial
View Y/N No
Roof Type Composition
Building
Story 2
Entry Level Two
Level or Stories Two
Others
Senior Community No
Tax ID 4905640800
Acceptable Financing Cash, Conventional, Cal Vet Loan, FHA, VA Loan
Listing Terms Cash, Conventional, Cal Vet Loan, FHA, VA Loan
Listed by Sean Bascom South Coast Commercial, Inc.
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