Apartment Building with Owned
For Sale
Contact for pricing
7932-40 La Mesa Blvd., La Mesa, CA 91942
Multifamily property with private laundry facilities, individual hot water heaters, and off-street parking.
Property Size14,108 SF
Price / SF$331.37
Days on Market589
Property Features for 7932-40 La Mesa Blvd.
General Information
Standard status
Active
Size
14,108 SF
Property subtype
Multifamily
Additional Details
Road Access
Yes
Amenities
owned laundry
Building Details
Buildings
3
Stories
2
Units
18
Listing Agency:
RJW Properties, Inc.
(858) 692-7764
Listed By:
Robert Weinberger · License #01327725
Source:
Crexi
Added: Jan 21, 2025
Changed: Aug 31
Last Checked: Aug 31 at 7:06PM
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 RJW Properties, Inc.
Investment Insights
Based on property information with market context.
This 14,108-square-foot apartment building at 7932-40 La Mesa Boulevard includes an owned laundry facility, individual hot water heaters, decks, and off-street parking. Mature trees add established outdoor character to the property, while driveways provide ingress and egress.
The decks were inspected under the new inspection law and passed without reported problems. The La Mesa address places the asset within an established Southern California setting, with the property’s on-site features supporting multifamily operations.
The decks were inspected under the new inspection law and passed without reported problems. The La Mesa address places the asset within an established Southern California setting, with the property’s on-site features supporting multifamily operations.
Key Highlights
- 14,108‑square‑foot apartment building at 7932‑40 La Mesa Boulevard
- Owned laundry facility included
- Individual hot water heaters serve the apartments
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$234,411
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.01%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,688,220
$4.7M
Cap Rate 7%
$3,348,729
$3.3M
Cap Rate 9%
$2,604,567
$2.6M
Market Conditions
NOI Build-Up for 14,108 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$448.6K $31.80/SF
− Vacancy
−$22.4K −$1.59/SF
EGI
$426.2K $30.21/SF
− OpEx
−$191.8K −$13.59/SF
NOI
$234.4K $16.62/SF
Area
San Diego County, CA
Vacancy
5.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,688,220
Cap Rate 7%
$3,348,729
Cap Rate 9%
$2,604,567
Alternative Uses
Best Use
Apartment 5plus
$3.35M
$2.93M – $3.91M
NOI $234,411 @ 7.0% cap · market cap 5.01%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.46M
$5.66M – $7.54M
NOI $452,467 @ 7.0% cap · market cap 9.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,803
Businesses Nearby
Explore this area
Business Placement
Demographics for 91942, CA
40,813
Population
18,488
Households
2.2
Avg Household Size
39
Median Age
38%
College-Educated
94%
High-School Grad
5.8 sq mi
ZIP Area
7,037
Density / Sq Mi
$81,262
Median Household Income
$57,064
Median Earnings
$1,934
Median Rent
$689,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with private laundry facilities, individual hot water heaters, and off-street parking.
Where is this apartment building located?
The property is located at 7932-40 La Mesa Blvd. La Mesa, CA.
What is the asking price?
The asking price for this property is $4,675,000.
What are key features of this property?
This property features: 14,108‑square‑foot apartment building at 7932‑40 La Mesa Boulevard; Owned laundry facility included; Individual hot water heaters serve the apartments
