La Mesa, CA 91942 4818 Palm Avenue

This sale includes 2 parcels, located right in the heart of La Mesa Village. On each parcel sits 8 charming, craftsman style units for a total of 16 units. A great mix of 8 two bedroom / one baths, 4 one bedroom / one baths and 4 studios, as well as 14 garages (rented out separately) and leased laundry. Several units at market rate of $1995 for 2br, $1695 for 1br, $1595 for studios, but many below with room for increased revenue. This property presents a very unique opportunity for future development. Parcel 494-251-16-00 zoned CD-D, intended to accommodate development that permits high density and mixed use. Parcel 494-251-15-00 zoned R3. These parcels were originally one, but were split into two in 1966 and County Recorder states they can be combined again into one parcel per a combination request through SDARCC. La Mesa is building up! Located steps to the La Mesa Village which boasts shopping, dining, entertainment and transportation. More than a town, a lifestyle, with gyms, Pilates and yoga studios, Farmers' Market every Friday, trending restaurants and coffee shops. Just strolling distance away is the fully reimagined Collier Park which features brand new pickleball and tennis courts, playground, green spaces and covered areas for community gatherings, picnics and more! La Mesa Village is also home to the La Mesa Oktoberfest, Holiday in the Village, Taste of La Mesa Village and the La Mesa Classic Car Show! A chance to own an established complex, with long term tenants and strong rent rates. Or, the potential opportunity to create something new and expansive in a gro