Homes for sale - 8615 Mellmanor Dr, La Mesa, CA 91942

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Josh Gregorio

josh.gregoriorealestategroup@gmail.com +1(661) 447-5111

$ 1,395,000

Est. payment | -/mo

Save Virtual Tour

$ 1,395,000

Est. payment | -/mo

Save Virtual Tour

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

Virtual Tour https://www.propertypanorama.com/instaview/snd/250040189

Listed by Sean Bascom South Coast Commercial, Inc.

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(661) 447-5111

josh.gregoriorealestategroup@gmail.com

3400 Calloway Dr Suite 700, Bakersfield, California, 93312, USA

8615 Mellmanor Dr La Mesa, CA 91942