7025 Boulevard Drive, La Mesa, CA 91941
Local realty services provided by:Nelson Shelton Real Estate ERA Powered
Listed by: maxwell brown
Office: commercial asset advisors858-360-3000
MLS#:PTP2604512
Source:CRMLS
Price summary
- Price:$5,295,000
- Price per sq. ft.:$428.54
About this home
$250k Price Reduction !!! 7025 Boulevard Dr offers a renovated, turnkey, and desirable 20-unit garden style asset with immediate cashflow, remaining rental upside, and 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 16 units, major electrical system replacement, brand new pitched roofs, epoxy-lined sewer mains, dual-pane windows, 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 $463,138 GSI yielding a 5.37% in-place cap rate. There is approximately 12% income upside at conservative market rents to produce a forecasted $524,010 GSI and 6.23% 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....
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Home facts
- Year built:1956
- Listing ID #:PTP2604512
- Added:154 day(s) ago
- Updated:November 13, 2026 at 12:59 PM
Rooms and interior
- Living area:12,356 sq. ft.
Structure and exterior
- Year built:1956
- Building area:12,356 sq. ft.
- Lot area:0.31 Acres
Utilities
- Sewer:Public Sewer
Finances and disclosures
- Price:$5,295,000
- Price per sq. ft.:$428.54
Parking
- Total parking spaces:20
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