We proudly present 8870-78 La Mesa Blvd, part of the Fite Plaza / Bel Arms ensemble, a fully leased, income-producing, mixed-use property with immediate cash flow, and significant value-add or redevelopment upside. The asset combines a 5-tenant retail building (11,120 SF) with a 10-unit apartment complex, all on 0.86 acres in one of East County’s most accessible and desirable locations. The retail component generates stable cash flow from a diversified tenant roster, while the multifamily component offers upside through normalization of rents, interior upgrades, or repositioning. Because of the site’s compact footprint and location near major freeways and community amenities, a creative owner could explore infill or densification strategies. With limited new ground available in this submarket, this property represents a compelling opportunity to acquire a multi-layered real estate play in La Mesa.
**12-Unit Value-Add Opportunity 5.58% CAP on actuals // 7.72% on Proforma** Comprised of All 3-Bdrm Cottage Style Apartment Homes • Large 41,817sf Lot (10 Buildings) • Each Unit has Private Yard, Off-Street Parking, & Washer/Dryer • Extremely Rare and Unique Asset • North of El Cajon Blvd and Just South of I-8 • Situated near shops, restaurants, and local services with close proximity to the freeway • Located in One of San Diego’s Strongest Rental Markets • Proforma CAP: 7.05% • Proforma GRM 9.92
Stabilized La Mesa multi-family with existing cash flow AND allows up to 6 ADU units with city approval. Fully renovated, the property comprises 2,793 sqft of rentable space over 3 units (3bd/2ba, 1bd/1ba, 1bd/1ba) situated on an expansive 16,089 sf lot. Units feature exquisite designer finishes, private backyards that provide a single-family home feel, in-unit laundry, high-efficiency appliances, and automated parking gates, Main house is a big 3bed/2b home with a outdoor kitchen/courtyard, a covered patio, and a huge backyard with 4 carports. Enjoy easy access to Hwy 8, La Mesa Healthcare Center, and Lake Murray Village, with a variety of dining, grocery, and fitness options nearby. matterport tours of all units available upon request
Huge price reduction! The property has mature trees, ingress and egress driveways, owned laundry, plenty of off-street parking, and individual hot water heaters. The decks were just inspected as per the new inspection law, and it past without any problems.
La Mesa is located in California. La Mesa, California has a population of 61,040. La Mesa is less family-centric than the surrounding county with 30.73% of the households containing married families with children. The county average for households married with children is 33.76%.
The median household income in La Mesa, California is $75,616. The median household income for the surrounding county is $88,240 compared to the national median of $69,021. The median age of people living in La Mesa is 36 years.
The average high temperature in July is 83.9 degrees, with an average low temperature in January of 44.6 degrees. The average rainfall is approximately 12.1 inches per year, with 0 inches of snow per year.
