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$5,450,000

For Sale

A day ago

7025 Boulevard Dr, La Mesa, CA

House

MLS® PTP2604512

0 Bed

0 Bath

20 Parking

Key Facts
Description
Map

Key Facts

Type

Levels Residential Income

Size -

Garage

Taxes

Days Active 1

Lot Size 0.3104 Acres

Approx. Age 1956

MLS® Number PTP2604512

Property Address: 7025 Boulevard Dr, La Mesa, CA, 91941-7550

Average square foot calculated using Size range provided by listing agent.

Description

7025 Boulevard Dr offers a renovated, turnkey, and desirable 20-unit garden style asset with immediate cashflow, remaining rental upside, and all major infrastructure system improvements. The property is ideally situated near major transportation corridors, steps away from the amenity and retail filled University Ave, and provides seasoned investors with the “Golden Standard” Class B location asset known to provide the strongest aggregate return and operational profile. Current ownership has completed significant capital improvements, eliminating all deferred maintenance and substantially reducing future expenses. Improvements include renovation of 18 units, major electrical system upgrades, epoxy-lined sewer mains, dual-pane windows, new pitched roofs, and numerous interior and exterior enhancements. The property consists of an ideal & diverse unit mix of (8) 2 Bed / 1 Bath, (8) 1 Bed / 1 Bath, and (4) Studio units. The property further provides an attractive 1:1 parking ratio and gated access. Ownership will benefit from meaningful economies of scale while maintaining the operational simplicity of a low-density garden style asset. The asset currently generates $462, 538 GSI yielding a 5.19% in-place cap rate. There is approximately 12% income upside at conservative market rents to produce a forecasted $519, 690 GSI and 5.95% market cap rate with minimal additional capital investment required. 7025 Boulevard Drive is strategically situated in what many seasoned San Diego multifamily investors consider the “Golden Standard” middle market location profile. The Property's Class B location provides the ideal balance between acquisition basis, tenant quality, and long-term rental demand, producing notably stronger returns than higher-priced Coastal San Diego submarkets and significantly less operational challenges associated with Class C location assets and tenants.

MLS® NumberPTP2604512

Laundry Level

Central VacNo

FireplaceNo

Acreage

Exterior

Garage

Approx. Age1956

Basement

Driveway

Garage Spaces

Heat

A/C

Extras

Price History

-End Date

Not Sold YetSold Price

For Sale

Jun 11, 2026List Date

$5,450,000List Price

Commute

Commute

Starting Address

Destination Address

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