4818 4832 1/2 Palm Avenue, La Mesa, CA 91942 - Berkshire Hathaway HomeServices California Properties

4818 4832 1/2 Palm Avenue, La Mesa, CA 91942

$4,650,000 Approx. USD 0 beds, 0 baths

Listing Agent


Jacqueline Cono-Clippinger | jc@realnetpm.com
Lic#: 01336241
Broker: Courtesy of Real Net Inc.

Agent Remarks

This sale includes 2 parcels, located right in the heart of La Mesa Village. On each parcel sits 8 charming, craftsman style units for a total of 16 units. A great mix of 8 two bedroom / one baths, 4 one bedroom / one baths and 4 studios, as well as 14 garages (rented out separately) and leased laundry. Several units at market rate of $1995 for 2br, $1695 for 1br, $1595 for studios, but many below with room for increased revenue. This property presents a very unique opportunity for future development. Parcel 494-251-16-00 zoned CD-D, intended to accommodate development that permits high density and mixed use. Parcel 494-251-15-00 zoned R3. These parcels were originally one, but were split into two in 1966 and County Recorder states they can be combined again into one parcel per a combination request through SDARCC. La Mesa is building up! Located steps to the La Mesa Village which boasts shopping, dining, entertainment and transportation. More than a town, a lifestyle, with gyms, Pilates and yoga studios, Farmers' Market every Friday, trending restaurants and coffee shops. Just strolling distance away is the fully reimagined Collier Park which features brand new pickleball and tennis courts, playground, green spaces and covered areas for community gatherings, picnics and more! La Mesa Village is also home to the La Mesa Oktoberfest, Holiday in the Village, Taste of La Mesa Village and the La Mesa Classic Car Show! A chance to own an established complex, with long term tenants and strong rent rates. Or, the potential opportunity to create something new and expansive in a growing San Diego hotspot. All roofs replaced 2023/2024. Whole property painted 2023. Interior photos are of most recent vacancies. Many long term tenants, as long as 25 years. Existing electrical utilizes fuses. Recent upgrades have been made, but more may be desired. Raised walkways have not been certified in compliance with the upcoming AB-2579 2026 deadline. Property to be sold on an “as-is, where-is” basis. All information provided is deemed reliable, but not guaranteed. Buyer and Buyer's agent to verify all information, including but not limited to zoning and development potential, prior to COE.

Listing Details

Property type: (Multi-Family)
Status: Active
MLS# PTP2504161
Price: $4,650,000
HOA Fee is $0.00
Beds: 0
Baths: 0
Built in 1946
0.37 acres
Lot size: 0.3715
County: San Diego
Property style: Craftsman
Zoning: Parcel 494-251-16-00 zone
Construction: Frame,Plaster,Wood Siding
Appliances: Free-Standing Range,Freezer,Gas Cooking,Gas Oven,Gas Range,Gas Water Heater,Refrigerator,Water Heater
Parking description: Concrete,Door-Single,Garage,On Site,Private,One Space,Unassigned
Lot description: ZeroToOneUnitAcre,Sprinklers In Front,Level,Near Park,Near Public Transit,Sprinkler System,Value In Land,Walkstreet
Heating/cooling: Wall/Window Unit(s)
Heating description: Natural Gas,Wall Furnace
MLS area: 91942 - La Mesa

Last Updated: 6/7/2025

 Days On Market (DOM): 14

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This listing belongs to the 91942 - La Mesa MLS area

The style of this listing is Craftsman.
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Lat/Long: 32.766512, -117.018802.
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DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor. GET PRE-APPROVED The loan's interest rate will depend upon the specific characteristics of the loan transaction and credit profile up to the time of closing.

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