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Listed by Jacqueline K Cono-Clippinger • Real Net Inc.

$4,650,000

Est. payment - /mo

9,408 SqFt

New

4818 Palm Avenue La Mesa, CA 91942

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Camille Marsh

camille@marshcalhomes.com +1(805) 387-2350

UPDATED:

Key Details

Property Type Single Family Home

Listing Status Active

Purchase Type For Sale

Square Footage 9,408 sqft

Price per Sqft $494

MLS Listing ID 8P-2504161

Style Craftsman

Year Built 1946

Lot Size 0.371 Acres

Property Description

This sale includes 2 parcels, located right in the heart of La Mesa Village. On each parcel sits 8 charming, craftsman style units for a total of 16 units. A great mix of 8 two bedroom / one baths, 4 one bedroom / one baths and 4 studios, as well as 14 garages (rented out separately) and leased laundry. Several units at market rate of $1995 for 2br, $1695 for 1br, $1595 for studios, but many below with room for increased revenue. This property presents a very unique opportunity for future development. Parcel 494-251-16-00 zoned CD-D, intended to accommodate development that permits high density and mixed use. Parcel 494-251-15-00 zoned R3. These parcels were originally one, but were split into two in 1966 and County Recorder states they can be combined again into one parcel per a combination request through SDARCC. La Mesa is building up! Located steps to the La Mesa Village which boasts shopping, dining, entertainment and transportation. More than a town, a lifestyle, with gyms, Pilates and yoga studios, Farmers' Market every Friday, trending restaurants and coffee shops. Just strolling distance away is the fully reimagined Collier Park which features brand new pickleball and tennis courts, playground, green spaces and covered areas for community gatherings, picnics and more! La Mesa Village is also home to the La Mesa Oktoberfest, Holiday in the Village, Taste of La Mesa Village and the La Mesa Classic Car Show! A chance to own an established complex, with long term tenants and strong rent rates. Or, the potential opportunity to create something new and expansive in a growing San Diego hotspot. All roofs replaced 2023/2024. Whole property painted 2023. Interior photos are of most recent vacancies. Many long term tenants, as long as 25 years. Existing electrical utilizes fuses. Recent upgrades have been made, but more may be desired. Raised walkways have not been certified in compliance with the upcoming AB-2579 2026 deadline. Property to be sold on an "as-is, where-is" basis. All information provided is deemed reliable, but not guaranteed. Buyer and Buyer's agent to verify all information, including but not limited to zoning and development potential, prior to COE.

Location

State CA

County San Diego

Area 91942 - La Mesa

Zoning Parcel 494-251-16-00 zoned CD-

Interior

Heating Wall Furnace

Laundry Common Area, Community

Exterior

Parking Features Garage, Garage - Single Door, On Site, Parking Space, Private, Unassigned, Concrete

Garage Spaces 14.0

Pool None

Community Features Curbs, Sidewalks, Street Lights, Urban

View Y/N No

Building

Lot Description Level, Lot 10000-19999 Sqft, Near Public Transit, Park Nearby, Sprinkler System, Sprinklers In Front, Utilities - Overhead, Value In Land, Walkstreet, 0-1 Unit/Acre

Sewer Public Sewer

Others

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Camille Marsh

Broker Associate | License ID: 01277020

+1(805) 387-2350

4818 Palm Avenue La Mesa, CA 91942

Camille Marsh

Key Details

Location

Interior

Exterior

Building

Others

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4818 Palm Avenue