La Mesita Villas

//La Mesita Villas

La Mesita Villas

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
$5,975,000
13
$459,615
20,904
$285.83
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 is being offered free and clear of any debt or encumbrances, and can be delivered to the buyer upon receipt of certificate of occupancy.

The La Mesita Place Villas are currently under construction 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 will consist of a beautiful, garden setting complex spread out on a spacious lot. The La Mesita Place Villas when completed will consist of thirteen (13) large three-bedroom, three and a half bathroom units.  Each unit will have an attached 2-car garage, with a private entry into the unit.  The first floor will also boast a full bedroom and bathroom, ample storage, a private patio, and recycling receptacles.  The second floor will feature 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 will also feature 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 will measure 1,608 square feet. The units will be constructed to 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 will be strong and lease up will be quick.  It is anticipated that a long wait list will be created prior to completion of construction. The strong rental market for units of this type will also assure higher rents. The La Mesita Place Villas provides an opportunity for an investor to acquire a turnkey, brand new construction multifamily asset in the high-demand rental market of La Mesa. This offering is perfect for the long-term investor seeking a pride of ownership asset with a strong current and future cash flow.

Listed Properties

 

Craig StewartContact 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

 

2018-11-03T00:10:07+00:00