NOT LISTED FOR SALE

4645 Palm Ave La Mesa, CA 91941

3 Beds
2 Baths
6,200 Sq Ft
-- Built

Last Sold November 07, 2024

Last sale price $2,400,000 $387 Per Sq Ft

63 Days on Market

About This Home

As of November 2024

PRICE REDUCED!!! La Palmilla Apartments is a well located asset with a desirable unit mix of three (3) one-bedroom and five (5) two-bedroom apartment homes with ample parking, common laundry facilities, additional storage and secured entry. The offering is a true value-add opportunity with the option of upgrading unit interiors and the building exterior to achieve substantially higher rents. Seller is purchasing upleg and will either close 4645 Palm Avenue as the downleg in an exchange or if necessary effect a reverse exchange. Located in La Mesa's charming historical village with a walk score of 93, the neighborhood is a walker's paradise with a plethora of trendy restaurants, coffee shops, bars and shops along La Mesa Blvd (1.5 blocks from the property). Sprout's Farmers Market is located directly across the street. Residents are also walking distance (0.3 miles) to the nearest Trolley Stop, which is served by the Orange Line and provides traffic free commutes to destinations including Downtown San Diego, SDSU, Mission Valley, UTC and the San Ysidro border.

Last Agent to Sell the Property

Eric Comer

Eric D. Comer, Broker License #00842230 Listed on: 07/23/2024

Last Buyer's Agent

Sean Toohey

Nara Advisors, Inc. License #02172754

Property Details

Home Type

  • Apartment

Parking

  • Parking Available

Interior Spaces

  • 3 Bedrooms
  • 6,200 Sq Ft Home
  • 2-Story Property

Additional Homes

  • Number of ADU Units: 3

Utilities

  • Cooling System Mounted To A Wall/Window
  • Radiant Heating System

Community Details

  • 8 Units
  • Operating Expense $73,487

Listing and Financial Details

  • Total Actual Rent $16,025

Property Details

Home Type

Apartment

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Stories: 2
  • CapRate: 4.6
  • Co List Office Mls Id: 8042
  • Living Area: 6200.0
  • Structure Type: Apartment
  • FeedTypes: IDX
  • RFModificationTimestamp: 2024-12-16T19:45:45Z
  • FullAddress: 4645 Palm Ave
  • Special Features: VirtualTour
  • Property Sub Type: MultiFamily

Interior Features

  • Total Bedrooms: 3

Garage/Parking

  • Parking Features: Spaces

Utilities

  • Cooling: Wall/Window
  • Heating: Radiant
  • Laundry Features: Owned

Multi Family

  • Number Of Buildings: 1
  • Number Of Units Total: 8
  • Annual Operating Expense: 73487.0
  • Total Actual Rent: 16025.0
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Property History

Date Event Price List to Sale Price per Sq Ft
11/07/2024 11/07/24 Sold $2,400,000 -3.8% $387 / Sq Ft
09/25/2024 09/25/24 Pending -- -- --
08/30/2024 08/30/24 Price Changed $2,495,000 -4.0% $402 / Sq Ft
07/23/2024 07/23/24 For Sale $2,600,000 -- $419 / Sq Ft
Source: San Diego MLS

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $19,983 $2,400,000 $1,200,000 $1,200,000
2024 $19,983 $1,526,311 $444,671 $1,081,640
2023 $19,365 $1,496,384 $435,952 $1,060,432
2022 $19,357 $1,467,044 $427,404 $1,039,640
2021 $19,160 $1,438,279 $419,024 $1,019,255
2020 $18,536 $1,423,532 $414,728 $1,008,804
2019 $18,184 $1,395,621 $406,597 $989,024
2018 $17,767 $1,368,257 $398,625 $969,632
2017 $17,441 $1,341,429 $390,809 $950,620
2016 $16,949 $1,315,128 $383,147 $931,981
2015 $16,834 $1,295,374 $377,392 $917,982
2014 $14,212 $1,068,784 $368,545 $700,239
Source: Public Records

Agents Affiliated with this Home

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Map

Source: San Diego MLS

MLS Number: 240017065

San Diego MLS

APN: 494-442-07-00

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