8615 Mellmanor Dr, La Mesa, CA 91942
- $1,500,000
- 8
- BD
- 8
- BA
- Sold Price
- $1,500,000
- List Price
- $1,395,000
- Closing Date
- Dec 01, 2025
- Days on Market
- 63
- Status
- CLOSED
- MLS#
- 250040189
- Bedrooms
- 8
- Bathrooms
- 8
- City
- La Mesa
- Neighborhood
- Grossmont
- Complex/Building Name
- N/A
- Property Type
- Multifamily
- Year Built
- 1964
Property Description
8615 Mellmanor Drive presents a rare opportunity to acquire a value-add fourplex in the highly sought-after La Mesa submarket, just blocks from Grossmont Center and minutes from San Diego State University. Built in 1964 and situated on a 10,086 square foot parcel, the 4,140 square foot building features four spacious townhome-style residences, each offering 2BR/1.5BA baths across approximately 960 square feet. Three of the four units benefit from in-unit laundry, and all include private ground-level patios. Current in-place rents remain significantly below market levels, positioning the property for immediate revenue growth through renovations and turnover. With a pro forma gross scheduled income of $124,560 and a projected net operating income of nearly $88,000, investors can achieve a 6.31% cap rate at asking, highlighting the asset’s strong financial upside and long-term stability.
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Additional Information
- Building Name
- N/A
- Cooling
- None
- Neighborhood
- Grossmont
- Roof
- Composition
- Year Built
- 1964
Mortgage Calculator
Listing courtesy of Listing Agent: Sean Bascom (619-916-9179) from Listing Office: South Coast Commercial, Inc..
Selling Office: Fantastik Realty.
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