5111 Wilson St & 8870-78 La Mesa Blvd, La Mesa, CA 91942

$8,000,000
List Price
$8,000,000
Status
ACTIVE
MLS#
210016471
Lot Size
35,946
Acres
0.83
Days on Market
165
Property Type
Commercial
Property Sub Type
Mixed Use

Property Description

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.

Additional Information

Exterior Construction
Stucco
Attached Structure
Detached
Number Of Units Total
10
Gross Scheduled Income
$311,880
Operating Expense
29601

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of Daniel Fefferman from Define Real Estate

Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.