Does This San Diego 4-Unit Still Make Sense at a 6.0% Cap?

[Lynnor Anderson]

I have 4-unit property listed for sale in La Mesa (just east of SDSU) that’s been updated and clean! With $11,162/month in rent. We priced it at $1.895M, which gives it a cap rate of 6.0% and a GRM of 14.14.

🏠 Breakdown:

• 4BD/2BA house (vacant on purpose for a possible owner-occupant buyer, $5,300 pro forma)

• 2BD/1BA unit ($2,600)

• 1BD/1BA unit ($1,750)

• 1BD/1BA unit ($1,512)

It's on a 13,190 SF lot with a pool, private patios, lots of off-street parking, and future ADU development potential.
Owner pays water/sewer/trash, tenants cover electric.

We’re marketing this to househackers, 1031 exchange upleg buyers, and investors looking for stable, turnkey cash flow.

➤ Would love to hear how this pencils out for you in today’s market.

Lynnor Anderson, Realtor®, Realty ONE Group Pacific DRE#01405997

Happy to send the OM or video link to anyone interested.