8615 Mellmanor Dr, La Mesa, CA 91942

About this property

8615 Mellmanor Drive presents a rare opportunity to acquire a value-add fourplex in the highly sought-after La Mesa submarket, just blocks from Grossmont Center and minutes from San Diego State University. Built in 1964 and situated on a 10,086 square foot parcel, the 4,140 square foot building features four spacious townhome-style residences, each offering 2BR/1.5BA baths across approximately 960 square feet. Three of the four units benefit from in-unit laundry, and all include private ground-level patios. Current in-place rents remain significantly below market levels, positioning the property for immediate revenue growth through renovations and turnover. With a pro forma gross scheduled income of $124,560 and a projected net operating income of nearly $88,000, investors can achieve a 6.31% cap rate at asking, highlighting the asset’s strong financial upside and long-term stability.

Listing description from the December 2025 sale, as reported to CRMLS.

Sale history

$1,500,000

Sold December 2025 · listed $1,395,000, on market September 2025 · MLS #250040189SD · Source: CRMLS

Listing Agent: Sean Bascom · Listing Office: South Coast Commercial, Inc. · Contact: 619-226-6011 · Bought with: Robert Brown · Fantastik Realty

Explore La Mesa