32.78224 -117.01334

8561 Mellmanor Drive La Mesa, CA 91942

275202584 32.78224 -117.01334 107 /listing/275202584-150588286/8561-mellmanor-drive-la-mesa-ca-91942 False 0 6595000.0 101 200033047 False
  • $6,595,000
  • Est payment $35403.39/mo

Property & Neighborhood Info

Courtesy Of Marcus & Millichap

Commercial in La Mesa

We are pleased to present The Grossmont, a newly renovated, 27-unit gated community in the City of La Mesa, California. Built in 1964 and fully renovated in 2018, The Grossmont is situated on 0.83 acres, and is comprised of 2 two-story buildings, with a mix of 23 one-bedroom/one-bathroom units and 4 two-bedroom/one-bathroom units. The Grossmont presents an excellent opportunity to acquire a desirable, fully-renovated asset with below-market rents, it offers a current cap rate of 4.85% and with credible upside to a cap rate of over 5.49% that would yield a leveraged total return of 9.80%. The property features a sparkling swimming pool with a sundeck and shaded barbecue area for entertaining, pedestrian gated access, easy off-street parking and an on-site laundry facility. Property amenities also include a dog park, LED exterior lighting, a poolside restroom, water-wise irrigation and concrete second-story walkway decks.

Courtesy Of Marcus & Millichap

Main Features

  • Listing Status: Active
  • County: San Diego County
  • Units: 27
  • MLS Number:200033047

Additional Features

  • Board:
    • San Diego Association of REALTORS (SDAR)
  • Limited Service:
    • N/A
  • Sale Rent:
    • For Sale
  • List Agent BRE:
    • 01312183
  • List Office Board ID:
    • San Diego Association of REALTORS (SDAR)
  • Listing Type:
    • Exclusive Agency (A)
  • Tax ID:
    • 490-564-14-00
Neighborhood info courtesy of Homes.com © 2020

What's My Mortgage?

$38,769.95*
*Estimated monthly payment is a starting point to help assist you with your home search. To find out more about mortgage pre-qualification, click here.
Bobby Stefano
Bobby Stefano
9454 Wilshire Blvd. Suite 400 Beverly Hills CA 90212
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32.78224 -117.01334

8561 Mellmanor Drive La Mesa, CA 91942

275202584 32.78224 -117.01334 107 /listing/275202584-150588286/8561-mellmanor-drive-la-mesa-ca-91942 False 0 6595000.0 101 200033047 False
  • $6,595,000
  • Est payment $35403.39/mo