Offered for sale is a mixed-use investment or redevelopment opportunity in the city of La Mesa. The offering is comprised of a 10-unit apartment complex and a 5-unit commercial retail center with no vacancies. Located at 5111 Wilson St .and 8870-78 La Mesa Blvd., the subject is situated just south west of where the Interstate 8 and 125 freeway intersect. Situated on the corner of Wilson St. and La Mesa Blvd. the 2 parcels have a total square footage of approximately 35,945sf (per tax assessor records). Located in the City of La Mesa this property features easy access from Grossmont Blvd. and La Mesa Blvd. with close proximity to Grossmont Center, Sharp Grossmont Hospital, and San Diego State University. Additional benefits include the large selection of restaurants and shops in downtown La Mesa. 5111 WILSON ST is a fully occupied and stabilized 10 unit apartment complex located directly behind the commercial retail center. This well maintained complex is comprised of (4) 2 bed / 1 bath units and (6) 1 bed / 1 bath units, covered parking and detached laundry room. Courtyard style property shows high pride of ownership and consistent updating and maintenance under current ownership. Rents are month-to-month and below market to allow new owner the ability to realize upside through renovation and rental increases or redevelop lot to maximize density. 8870-78 LA MESA BLVD is a fully occupied 5 tenant retail center plus storage yard. With monument signage and high traffic count from La Mesa Blvd., this property has great visibility 10 parking spaces and ample on street parking.
Listing courtesy of Daniel Fefferman from Define Real Estate
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