Four-Unit Residential Income
For Sale
$1,200,000
7902 8 Lester Ave, Lemon Grove, CA 91945
Four-unit rental property with a new 2025 roof and off-street parking for daily convenience.
Days on Market59
Property Features for 7902 8 Lester Ave
General Information
Standard status
Active
Total Parking Spaces
4
Property subtype
Investment
Additional Details
Cap Rate
6.91%
Multifamily Units
4
Building Details
Year Built
1953
Year Renovated
2025
Listing Agency:
(858) 247-2487
Listed By:
Caleb Mancini
(858) 247-2487
Source:
Elliman
Added: Jun 3
Changed: Jul 10
Last Checked: Jul 30 at 6:56AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Caleb Mancini
Investment Insights
Based on property information with market context.
The property is a four-unit residential income building featuring three (3) two-bedroom, one-bath units and one (1) one-bedroom, one-bath unit. Four off-street parking spaces are available for residents. A new roof was installed in 2025, supporting the building’s near-term exterior reliability.
Located at 8-7902 Lester Ave in Lemon Grove, CA 91945, the property provides convenient access to local retail, transit, and community amenities. The provided scoring indicates the area is very walkable (walkScore: 80) and somewhat bikeable (bikeScore: 48), with some transit support (transitScore: 45).
This asset is well suited for buyers seeking a small multifamily investment with in-place unit mix and a recently completed roof replacement. The seller’s remarks also describe the opportunity as value-add, citing a pro forma cap rate of 6.91% and projected rental income upside of 132% as part of the stated underwriting. With renovations and re-tenanting referenced in the remarks, the property offers a straightforward framework for investors who want to improve occupancy and market rents over time while retaining the current parking and unit configuration.
Located at 8-7902 Lester Ave in Lemon Grove, CA 91945, the property provides convenient access to local retail, transit, and community amenities. The provided scoring indicates the area is very walkable (walkScore: 80) and somewhat bikeable (bikeScore: 48), with some transit support (transitScore: 45).
This asset is well suited for buyers seeking a small multifamily investment with in-place unit mix and a recently completed roof replacement. The seller’s remarks also describe the opportunity as value-add, citing a pro forma cap rate of 6.91% and projected rental income upside of 132% as part of the stated underwriting. With renovations and re-tenanting referenced in the remarks, the property offers a straightforward framework for investors who want to improve occupancy and market rents over time while retaining the current parking and unit configuration.
Key Highlights
- Four‑unit rental property built in 1953
- Unit mix: three 2‑bedroom/1‑bath units plus one 1‑bedroom/1‑bath unit
- New roof installed in 2025
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
992
Businesses Nearby
Explore this area
Business Placement
Demographics for 91945, CA
27,814
Population
9,715
Households
2.9
Avg Household Size
38
Median Age
20%
College-Educated
89%
High-School Grad
4.0 sq mi
ZIP Area
6,954
Density / Sq Mi
$79,381
Median Household Income
$41,727
Median Earnings
$1,769
Median Rent
$640,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit rental property with a new 2025 roof and off-street parking for daily convenience.
Where is this quadplex located?
The property is located at 7902 8 Lester Ave Lemon Grove, CA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Four‑unit rental property built in 1953; Unit mix: three 2‑bedroom/1‑bath units plus one 1‑bedroom/1‑bath unit; New roof installed in 2025
