7628 Saranac Avenue

La Mesa, CA 91942

$1,495,000
Price
6
Beds
1,639 Sq. Ft.
$912 / Sq. Ft.
1,639
Sq. Ft.
$912
per Sq. Ft.

Description

Explore this prime La Mesa investment opportunity. This newly renovated 4-unit building on an extra large lot is an excellent wealth-building opportunity in a prime real estate asset. Designed to meet the needs of a bustling community and a thriving rental market. This building features contemporary construction and design, with interiors enhanced by upscale finishes such as quartz counters, stainless appliances and upgraded LVP flooring. Units are comprised of one 2bd/2ba, one 2bd/1ba, and two 1bd/1ba....Explore this prime La Mesa investment opportunity. This newly renovated 4-unit building on an extra large lot is an excellent wealth-building opportunity in a prime real estate asset. Designed to meet the needs of a bustling community and a thriving rental market. This building features contemporary construction and design, with interiors enhanced by upscale finishes such as quartz counters, stainless appliances and upgraded LVP flooring. Units are comprised of one 2bd/2ba, one 2bd/1ba, and two 1bd/1ba. Each residence has its own in-unit laundry and ductless A/C along with private outdoor living spaces. Off-street gated parking and OWNED solar. Units are leased at premium market rents to prime tenants, ensuring outstanding returns. Location is well situated, only 2 miles from SDSU and 1 mile from downtown La Mesa, providing easy access to to public transportation, entertainment and dining options. Live in one and rent out the others or rent out all four units and have a great return.
  1. Listed by Jessica Gooch • DRE #01290174 • Brokerage DRE #01204280 • Willis Allen Real Estate • jessica@willisallen.com

Property Details for 7628 Saranac Avenue

Parking Spaces Total
8
Private Pool
No
Cooling Type
Ductless
Total Units
4.0
Building Type
Attached
Lot Size Source
Public Records
Living Area
1639
Assessor Parcel Number
470-011-11-00
LISTING UPDATED: 09/20/2024 06:53 AM

Property Details for 7628 Saranac Avenue

StatusActive
MLS #NDP2406368
Days on Market68
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1940
Lot Size0.44 AC / 19,359 SF
CountySan Diego County

Building Information for 7628 Saranac Avenue

Stories2Residences-Year Built1940Building Size-Lot Size0.44 AC / 19,359 SF

Property Information for 7628 Saranac Avenue

Income / Expense / Tax Details
Income Details
  • Gross Income: $118,800
  • Gross Scheduled Income: $118,800
  • Net Operating Income: $86,800
  • Cap Rate: 5.94
Expense Details
  • Operating Expense: $32,000
  • New Taxes Expense: $0
  • Fuel Expense: $0
  • Electric Expense: $0
  • Insurance Expense: $0
  • Trash Expense: $0
  • Water Sewer Expense: $0
  • Total Expenses: $32,000
Tax / Assessment Info
  • Tax Tract Number: 002205
  • CFD/Mello-Roos Fee: $728
  • Tax Lot: 10
Community / Development
Community / Development
  • Assessments YN: Yes
  • Assessments: Buyer to Verify, Unknown
  • Community Features: Urban
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: See Remarks
Exterior Features
  • Entry Location: Front
  • Fence: No
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Lot 10000-19999 Sqft, Near Public Transit, Yard
  • Number Of Units: 4
  • Land Lease: No
  • Land Lease Type: Fee
Parking Info
  • Garage Spaces: 0
  • Parking: Yes
  • Parking Garage: Controlled Entrance, Driveway
  • Uncovered Spaces: 8
  • Open Other Spaces Total: 8
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
  • Parking Features: Controlled Entrance, Driveway, On Site, See Remarks
Unit Information
Unit 1
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 2
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $3,250
  • Unit Type Total Rent: $3,250
  • Unit Type Pro Forma: 3250
  • Unit Type Type: 1
Unit 2
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,900
  • Unit Type Total Rent: $2,900
  • Unit Type Pro Forma: 2900
  • Unit Type Type: 2
Unit 3
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,800
  • Unit Type Total Rent: $1,800
  • Unit Type Pro Forma: 1800
  • Unit Type Type: 3
Unit 4
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,950
  • Unit Type Total Rent: $1,950
  • Unit Type Pro Forma: 1950
  • Unit Type Type: 4
Unit Information
  • Number Of Units Leased: 4
  • Rent Controlled: No
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 0
  • Number Of Separate Gas Meters: 0
  • Number Of Separate Water Meters: 0
  • Number With Dishwasher: 4
  • Number With Range: 4
  • Number With Refrigerator: 4
  • Number With Disposal: 4
  • Number With Drapes: 0
  • Number With Patio: 4
  • Number Wall AC: 4

Property History for 7628 Saranac Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 7628 Saranac Avenue

Taxable ValueLand$832,320Additions$208,080Total$1,040,400
Tax Record2024$13,234 ($1,103 / month)
Home Facts
Beds4Total Finished SqFt1,639 SqFtAbove Grade Finished SqFt1,639 SqFtLot Size19,359 SqFtStyleSingle Family ResidenceYear Built1940ZoningR-1:SINGLE FACountySAN DIEGOAPN470-011-11-00

Schools near 7628 Saranac Avenue

This home is within Grossmont Union High School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 4 to 8
Public - 9 to 12
Charter - 9 to 12
Rating
School
Distance
Rolando Elementary School
PublicK to 6

La Mesa Arts Academy
Public4 to 8

Grossmont High School
Public9 to 12

Helix High School
Charter9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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7628 Saranac Avenue is a multi-family home for sale in La Mesa, CA 91942. This property was listed for sale on July 18, 2024 by Willis Allen Real Estate, it's currently listed at $1,495,000. It has been on the market for a total of 68 days and was last sold on May 6, 2022. This listing's school districts are Grossmont Union High School District, La Mesa-Spring Valley School District. Nearby schools include Rolando Elementary School, La Mesa Arts Academy and Grossmont High School. 7628 Saranac Avenue is a 6-bed, 0-bath, 1,639 sqft multi-family home built in 1940.

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Listing Courtesy of Willis Allen Real Estate, Jessica Gooch, DRE #01290174

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