Palm Tree Properties is pleased to present an 8-unit multifamily property located in La Mesa, California. The property consists of (7) two-bedroom units and (1) one-bedroom unit within a single apartment complex constructed in 1958. The asset is 100% occupied and currently operated with a RUBS program in place, allowing for reimbursement of utility expenses. Seven of the eight units have been renovated, with one remaining unit providing additional value-add potential through renovation and rent alignment. At the current level of operations, the property is performing at an estimated 5.23% cap rate. The combination of stabilized occupancy, recent unit upgrades, and partial renovation completion offers a balanced profile of in-place income with remaining upside. The property is located in an established La Mesa rental submarket with consistent demand for two-bedroom units and proximity to major transportation corridors, retail, and employment centers. Additional financial details, rent roll, and underwriting assumptions are available upon request in the Offering Memorandum.
