8870-78 La Mesa Blvd, La Mesa, CA 91942
Price
$6,100,000
Price Per Unit
$406,667
Price Per Square Foot
$337.99
CAP Rate
4.76%
Number of Units
15 Units
Building Square Feet
18,048 SF
Lot Size
0.86 Acres
Year Renovated
1912/2000
APN
494-840-01-00, 494-840-02-00
The Bove Group proudly presents 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 (11,300 SF) with a 10-unit apartment complex, all on ~0.74 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.
Listed By:
Aaron Bove
Executive Vice President | San Diego Region
aaron.bove@colliers.com
CA Lic. 01318320
Direct: +1 858 677 5319 | Mobile: +1 858 945 7094
4350 La Jolla Village Drive, Suite 500 | San Diego, CA 92122