8615 Mellmanor Dr Active Save Request In-Person Tour Request Virtual Tour
La Mesa,CA 91942
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