La Mesa Multi-Family Properties for Sale

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Newest La Mesa Multi-Family Homes for Sale

$2,495,000

2 Beds ⋅ 6 Baths ⋅ 260017468 MLS ⋅ ACTIVE Status

5.54% current cap rate with a clear path to 6.23%. Newly priced at $2,495,000, 4415 Rosebud Lane offers 10 La Mesa units at $249,500 per unit, strong in-place income and approximately $109,000 in recent capital improvements, including a new roof, upgraded electrical service and panels, and completed SB 721 work with new stairs, railings and catwalks. The unit mix includes four studios, four 1BR units and two 2BR units, plus PARKING for every apartment, covered parking with storage and on-site laundry. Current operations reflect an 11.15 GRM and 5.54% cap rate, with projected performance of a 10.33 GRM and 6.23% cap rate as leases roll and allowable rent increases are implemented. Conveniently located near La Mesa Village, shopping, parks, transit and freeway access.

4415 Rosebud Ln, La Mesa

$1,399,895

8 Beds ⋅ 4 Baths ⋅ 260017368 MLS ⋅ ACTIVE Status ⋅ La Mesa College BLDG.

LARGE 4 BEDROOM DETACHED HOUSE (OPTIONAL 5TH BEDROOM) PLUS (2) ADDITIONAL UNITS EACH WITH TWO BEDROOMS IN HIGHLY DESIRED CENTRAL LOCATION WITHIN 2.5 MILES TO SDSU AND MISSION VALLEY ON OVER ¼ ACRE! EACH UNIT HAS PRIVATE DRIVEWAYS, OFF STREET PARKING YARDS AND PRIVATE LAUNDRY. ONE OF THE 2 BEDROOM UNITS (7367) WAS REMODELED IN 2024 WITH NEW KITCHEN, FLOORING AND REMODELED BATH. 4 BEDROOM HOUSE HAS REMODELED BATHROOMS, TILE SHOWERS, NEW CARPET AND PAINT. LIVE IN 1 AND RENT OUT THE OTHER TO KEEP PAYMENTS LOW, COLLEGE RENTAL, AIRBNB OR LONG TERM RENTAL!

7367 La Mesita Pl, La Mesa

$7,500,000

34 Beds ⋅ 22 Baths ⋅ 260016931 MLS ⋅ ACTIVE Status

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.

8969 Grossmont Blvd, La Mesa

$5,449,000

3 Beds ⋅ 6 Baths ⋅ PTP2604512 MLS ⋅ ACTIVE Status

7025 Boulevard Dr offers a renovated, turnkey, and desirable 20-unit garden style asset with immediate cashflow, remaining rental upside, and all major infrastructure system improvements. The property is ideally situated near major transportation corridors, steps away from the amenity and retail filled University Ave, and provides seasoned investors with the Golden Standard Class B location asset known to provide the strongest aggregate return and operational profile. Current ownership has completed significant capital improvements, eliminating all deferred maintenance and substantially reducing future expenses. Improvements include renovation of 16 units, major electrical system upgrades, epoxy-lined sewer mains, dual-pane windows, new pitched roofs, and numerous interior and exterior enhancements. The property consists of an ideal & diverse unit mix of (8) 2 Bed / 1 Bath, (8) 1 Bed / 1 Bath, and (4) Studio units. The property further provides an attractive 1:1 parking ratio and gated access. Ownership will benefit from meaningful economies of scale while maintaining the operational simplicity of a low-density garden style asset. The asset currently generates $462,538 GSI yielding a 5.19% in-place cap rate. There is approximately 12% income upside at conservative market rents to produce a forecasted $519,690 GSI and 5.95% market cap rate with minimal additional capital investment required. 7025 Boulevard Drive is strategically situated in what many seasoned San Diego multifamily investors consider the Golden Standard middle market location profile. The Property's Class B l 7025 Boulevard Dr offers a renovated, turnkey, and desirable 20-unit garden style asset with immediate cashflow, remaining rental upside, and all major infrastructure system improvements. The property is ideally situated near major transportation corridors, steps away from the amenity and retail filled University Ave, and provides seasoned investors with the Golden Standard Class B location asset known to provide the strongest aggregate return and operational profile. Current ownership has completed significant capital improvements, eliminating all deferred maintenance and substantially reducing future expenses. Improvements include renovation of 16 units, major electrical system upgrades, epoxy-lined sewer mains, dual-pane windows, new pitched roofs, and numerous interior and exterior enhancements. The property consists of an ideal & diverse unit mix of (8) 2 Bed / 1 Bath, (8) 1 Bed / 1 Bath, and (4) Studio units. The property further provides an attractive 1:1 parking ratio and gated access. Ownership will benefit from meaningful economies of scale while maintaining the operational simplicity of a low-density garden style asset. The asset currently generates $462,538 GSI yielding a 5.19% in-place cap rate. There is approximately 12% income upside at conservative market rents to produce a forecasted $519,690 GSI and 5.95% market cap rate with minimal additional capital investment required. 7025 Boulevard Drive is strategically situated in what many seasoned San Diego multifamily investors consider the Golden Standard middle market location profile. The Property's Class B location provides the ideal balance between acquisition basis, tenant quality, and long-term rental demand, producing notably stronger returns than higher-priced Coastal San Diego submarkets and significantly less operational challenges associated with Class C location assets and tenants.

7025 Boulevard Dr, La Mesa

$1,248,000

5 Beds ⋅ 3 Baths ⋅ 260013745 MLS ⋅ ACTIVE Status ⋅ La Mesa BLDG.

Unique single-story 3-unit investment opportunity in La Mesa. The property features two 2-bedroom/1-bath units and one 1-bedroom/1-bath unit, each with in-unit laundry, front and rear entrances, and abundant natural light. The courtyard-style layout includes off-street parking, multiple storage areas, and a gated courtyard with secure access for added privacy. The rear 1-bedroom unit offers a unique layout that lives like a standalone home. Ideally located within walking distance to downtown La Mesa shops and restaurants, with upside potential in rental income.

7987-91 Normal Ave, La Mesa

$8,950,000

72 Beds ⋅ 48 Baths ⋅ 260012789 MLS ⋅ ACTIVE Status

This 24-unit multifamily offering presents a compelling opportunity to acquire a well-located asset comprised entirely of three-bedroom, two-bathroom floor plans, with large private yards for the downstairs units and balconies in 10 of the 14 upstairs units. Community amenities include a swimming pool, large patio space with a BBQ, community laundry facilities, extra storage, and abundant on-site parking. The offering represents a true value-add opportunity, with the potential to upgrade both unit interiors and the building exterior to achieve substantially higher rents. Ideally situated near La Mesa Village, the property benefits from a highly walkable neighborhood with a Walk Score of 87. Residents enjoy immediate access to restaurants, coffee shops, bars, and retail along La Mesa Blvd. The property is also approximately 0.8 miles from a San Diego Trolley station served by the Orange Line.

8694 Lemon Ave, La Mesa

$1,435,000

6 Beds ⋅ 4 Baths ⋅ 260012073 MLS ⋅ ACTIVE Status ⋅ Duplex BLDG.

Exceptional Value-Add Opportunity in Prime La Mesa 4626–4628 Edenvale presents a rare investment opportunity featuring a income-producing duplex plus City of La Mesa–approved ADU permits, allowing a buyer to immediately increase density, boost rental income, and accelerate long-term equity growth without the typical entitlement delays. The existing duplex was completely remodeled in 2018 and consists of two spacious units: • Front unit: 3BD/2BA | 1,050 sq.ft. • Back unit: 3BD/2BA | 1,125 sq.ft. Each residence offers modern finishes and thoughtful upgrades, including: • Luxury vinyl plank flooring • Black graphite quartz countertops • Black stainless steel appliances • Dishwasher and built-in microwave • 5-burner gas stove • Large farmhouse-style sink • Ceiling fans with integrated lighting in living rooms and bedrooms • In-unit washer and dryer • Designer bathrooms with tiled bath surrounds, oversized showers, and soaking tubs The property features a 2-car garage, gated private decks, and a dedicated dog run for added tenant appeal. Ideally situated near shopping, dining, transit, and freeway access, this property combines immediate income potential with significant future upside in one of East County’s most desirable rental markets. With approved ADU plans already in place, investors can skip months of planning and move directly toward construction in a high-demand area with continued rental growth, creating a rare opportunity to increase density, boost rental income, and accelerate long-term equity growth. Call Agent for additional adjacent lot opportunity The existing duplex generates immediate cash flow while approved plans significantly reduce development timelines and upfront entitlement costs. Ideal for investors, or multigenerational living with strong potential to expand unit count in a high-demand rental market, skip months of planning and move directly toward construction. Completely remodeled in 2018. Both units are 3BD/2BA. Front unit is 1,050 sq.ft. and back unit is 1,125 sq.ft. 2 car garage. Ceiling fans with lights in living room and bedrooms. W/D in each unit. Black Graphite Quartz counters and black stainless steel appliances, dishwasher, built-in microwave, 5-burner gas stove, large farm-style sink. Bathrooms: tile bath stalls with soaker tub/oversized tile shower. Luxury vinyl plank flooring. Dog run on side of home, Gated private decks. Conveniently located near shopping, dining, transit, and freeway access, this property offers both current income and future upside located in one of East County’s most sought-after, continued rental demand. Rare value-add opportunity in the heart of La Mesa! 4626–4628 Edenvale is a duplex with approved ADU permits from the City of La Mesa, offering exceptional upside potential through expanded unit count, increased rental income, and long-term appreciation. Ideal for investors, owner-occupants, or multigenerational living, this property combines immediate cash flow from the existing duplex with a streamlined path toward future development. Much of the entitlement process has already been completed, allowing a buyer to bypass months of planning and move directly toward construction. Located in one of East County’s strongest rental markets, the property is conveniently situated near shopping, dining, public transit, and major freeway access. A rare opportunity to maximize future cash flow and capitalize on continued rental demand in La Mesa.

4626-28 Edenvale Ave, La Mesa

$3,390,000

16 Beds ⋅ 8 Baths ⋅ 260008555 MLS ⋅ ACTIVE Status

Exceptional La Mesa 8-unit multifamily opportunity. 6935 Hoffman Ave. + 3979-89 King St. delivers consistent in-place income supported by a strong unit mix and long-term tenancy. The improvements include (1) 3-bedroom / 1-bath home, (1) 1-bedroom / 1-bath home, and (6) 2-bedroom / 1-bath units across three duplex structures. All units are single story and feature newer appliances and private fenced backyards. The duplex structures have been extensively renovated down to the studs, including major capital improvements such as newer roofs, plumbing, electrical, and related systems. These upgrades materially reduce near-term capital expenditure exposure and provide a more predictable ownership profile. From a location standpoint, the property is situated on a large .72 acre corner lot and benefits from a well-connected La Mesa setting. Ideally located near La Mesa Village, Grossmont Center, public transit, and major freeway access providing convenient regional connectivity throughout San Diego County. The asset is also positioned within close proximity to San Diego State University, further supporting long-term rental demand in the surrounding area. Altogether, the property offers a compelling combination of stable income, limited near-term capital needs, and a highly accessible East County location.

6935 Hoffman Ave, La Mesa

$3,960,000

260002628 MLS ⋅ ACTIVE Status

Waite Townhomes, located at 7125 Waite Drive in La Mesa, California, is a well-positioned twelve-unit townhome community offering a rare and highly desirable all–two-bedroom, one-and-a-half-bath floor plan configuration. The property consists of two six-unit buildings situated on a 21,104 square foot (±0.48-acre) lot, with twenty-six parking spaces arranged in thirteen tandem stalls, providing ample on-site parking for residents. Each townhome measures approximately 865 square feet and features a private rear patio, creating a more residential, single-family feel that appeals to long-term tenants and families seeking space, privacy, and outdoor living. The townhome-style layout, combined with uniform unit mix and generous square footage, supports stable tenancy and reduced turnover compared to traditional apartment product. Originally constructed in 1972, Waite Townhomes has been well maintained and thoughtfully improved, with eleven of the twelve units renovated to include upgraded interiors. Significant recent capital investment enhances the property’s long-term durability and operating efficiency, including a new roof installed in 2021, replacement of all windows and sliding glass doors in 2022, and over $300,000 in capital expenditures completed in 2025.

7125 Waite Dr, La Mesa

$5,900,000

14 Beds ⋅ 10 Baths ⋅ 250043888 MLS ⋅ ACTIVE Status

We proudly present 8870-78 La Mesa Blvd, part of the Fite Plaza / Bel Arms ensemble, a fully leased, income-producing, mixed-use property with immediate cash flow, and significant value-add or redevelopment upside. The asset combines a 5-tenant retail building (11,120 SF) with a 10-unit apartment complex, all on 0.86 acres in one of East County’s most accessible and desirable locations. The retail component generates stable cash flow from a diversified tenant roster, while the multifamily component offers upside through normalization of rents, interior upgrades, or repositioning. Because of the site’s compact footprint and location near major freeways and community amenities, a creative owner could explore infill or densification strategies. With limited new ground available in this submarket, this property represents a compelling opportunity to acquire a multi-layered real estate play in La Mesa.

8870-78 La Mesa Blvd, La Mesa

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