La Mesita Villas – Closed

//La Mesita Villas – Closed

La Mesita Villas – Closed

Address:
7394  La Mesita Place
La Mesa, CA 91941

Property Type:
Purchase Price:
Total Units:
Price Per Unit:
Rentable SF:
Price Per SF:
Market Cap Rate:
Market GRM:

Apartments
$5,925,000
13
$455,769
20,904
$283.45
5.72%
13.21

Property Description

ACRE Investment Real Estate Services is pleased to present the La Mesita Place Villas (the “Property”), an attractive 13-Unit rental community that presents real estate investors the opportunity to acquire a newly constructed, highly upgraded apartment complex in La Mesa, California.  The property was offered free and clear of any debt or encumbrances, and was delivered to the buyer upon receipt of certificate of occupancy.

The La Mesita Place Villas are located in a desirable section of La Mesa, close to the Village of La Mesa, and a few miles to San Diego State University.  The Property is an ideal rental location for students as well as working professionals.

The Property consists of a beautiful garden setting complex spread out on a spacious lot. The La Mesita Place Villas consist of thirteen (13) large three-bedroom, three and a half bathroom units.  Each unit has an attached 2-car garage, with a private entry into the unit.  The first floor also boasts a full bedroom and bathroom, ample storage, a private patio, and recycling receptacles.  The second floor features a large modern kitchen, dining room, living room, private deck, and a powder bathroom.  The third floor features a large, well-appointed master bedroom, a master bathroom with dual sinks, sunken tub, toilet room, a large walk-in closet, and large windows to let in ample light.  The third floor features an additional bedroom with its own full bath, large closet, and private patio.  A washer and dryer room is also featured on the third floor for convenient access.

Each of the units measures 1,608 square feet. The units have been constructed to offer condo-quality specifications, with upgraded cabinets, fixtures, and flooring.  Due to the lack of up-scale three bedroom units in the La Mesa submarket, rental demand has been strong and units were leased quickly.  The strong rental market for units of this type will also assure higher rents.

Listed Properties

Contact Information
Craig V Stewart, MBA
Senior Vice President, Principal
Direct: 760.230.8014
Fax: 760.944.9119

Contact Information
William R. Anderson, MBA
Senior Vice President, Principal
Direct: 760.230.8015
Fax: 760.944.9119

2018-11-03T00:10:04+00:00