Joe McLaughlin / Broker Associate

My Office Listings

5111 Wilson St & 8870-78 La Mesa Blvd
East County La Mesa 91942

$8,000,000 /0.0
Com-Res Income 35,946 sq. ft.

Main Photo: Property for sale: 5111 Wilson St & 8870-78 La Mesa Blvd in La Mesa
Photo 1: Property for sale: 5111 Wilson St & 8870-78 La Mesa Blvd in La Mesa
Photo 2: Property for sale: 5111 Wilson St & 8870-78 La Mesa Blvd in La Mesa
Photo 3: Property for sale: 5111 Wilson St & 8870-78 La Mesa Blvd in La Mesa
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Photo 18: Property for sale: 5111 Wilson St & 8870-78 La Mesa Blvd in La Mesa
Status:
Active
Prop. Type:
Com-Res Income
MLS® Num:
210016471
Offered for sale is a mixed-use investment or redevelopment opportunity in the city of La Mesa. The offering is comprised of a 10-unit apartment complex and a 5-unit commercial retail center with no vacancies. Located at 5111 Wilson St .and 8870-78 La Mesa Blvd., the subject is situated just south west of where the Interstate 8 and 125 freeway intersect. Situated on the corner of Wilson St. and La Mesa Blvd. the 2 parcels have a total square footage of approximately 35,945sf (per tax assessor records). Located in the City of La Mesa this property features easy access from Grossmont Blvd. and La Mesa Blvd. with close proximity to Grossmont Center, Sharp Grossmont Hospital, and San Diego State University. Additional benefits include the large selection of restaurants and shops in downtown La Mesa. 5111 WILSON ST is a fully occupied and stabilized 10 unit apartment complex located directly behind the commercial retail center. This well maintained complex is comprised of (4) 2 bed / 1 bath units and (6) 1 bed / 1 bath units, covered parking and detached laundry room. Courtyard style property shows high pride of ownership and consistent updating and maintenance under current ownership. Rents are month-to-month and below market to allow new owner the ability to realize upside through renovation and rental increases or redevelop lot to maximize density. 8870-78 LA MESA BLVD is a fully occupied 5 tenant retail center plus storage yard. With monument signage and high traffic count from La Mesa Blvd., this property has great visibility 10 parking spaces and ample on street parking.
Price Per Unit:
0.0
Total Floor Area:
35,946 sq. ft.
Lot Size:
0.74 acre(s)
Lot Size Commercial:
.75 through 1.5 Acres
County:
San Diego
Market Area:
East County
Number of Buildings:
2
Number of Units:
10
Num Stories:
2
Gross Multiplier:
25.0
Gross scheduled income:
311880.0
Operating expense:
29601
Gross equity:
0
Motive / Want:
0
Listing Type:
Exclusive Right (R)
Construction Material:
Stucco
Zoning:
Mixed-Use
Parcel Number:
494-840-01-00
Number of Units in Unit 1:
6
Bedrooms for Unit 1:
1
Bathroom 1:
1.0
Number of Units in Unit 2:
4
Bedrooms for Unit 2:
2
Bathroom 2:
1.0
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Data was last updated August 6, 2021 at 01:10 AM (UTC)
Area Statistics
Listings on market:
21
Avg list price:
$2,940,000
Min list price:
$1,166,000
Max list price:
$8,000,000
Avg days on market:
52
Min days on market:
1
Max days on market:
289
Avg price per sq.ft.:
$166.53
These statistics are generated based on the current listing's property type and located in East County. Average values are derived using median calculations.
This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego Multiple Listing Service, Inc. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego Multiple Listing Service, Inc.