Renovated Multifamily on Corner
For Sale
$3,295,000
6935 Hoffman Ave, La Mesa, CA 91941
Eight single-story units across three duplex structures on a 0.72-acre corner lot with private fenced backyards.
Property Size6,145 SF
Lot Size0.72 Acres
Price / SF$536.21
Days on Market237
Property Features for 6935 Hoffman Ave
General Information
Standard status
Active
Size
6,145 SF
Lot size
0.72 Acres
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
8
Amenities
private fenced backyards
Building Details
Stories
1
Tenancy
Multi
Listing Agency:
Define Real Estate
Listed By:
Daniel J Fefferman daniel@definesdre.com · License #02026109
(619) 733-9038
Source:
Findhomesinsandiegoarea
Added: Feb 12
Changed: Oct 1
Last Checked: Oct 7 at 12:46PM
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 Define Real Estate
Investment Insights
Based on property information with market context.
This for-sale multifamily property consists of an 8-unit configuration across three duplex structures. The unit mix includes one 3-bedroom/1-bath home, one 1-bedroom/1-bath home, and six 2-bedroom/1-bath units. All units are single story and include newer appliances and private fenced backyards.
The duplex structures have been extensively renovated down to the studs, with major capital improvements including newer roofs, plumbing, electrical, and related systems. The property is set on a large 0.72-acre corner lot in La Mesa, and is positioned near La Mesa Village, Grossmont Center, public transit, and major freeway access for convenient regional connectivity throughout San Diego County.
The asset is also located near San Diego State University, supporting long-term rental demand in the surrounding area.
The duplex structures have been extensively renovated down to the studs, with major capital improvements including newer roofs, plumbing, electrical, and related systems. The property is set on a large 0.72-acre corner lot in La Mesa, and is positioned near La Mesa Village, Grossmont Center, public transit, and major freeway access for convenient regional connectivity throughout San Diego County.
The asset is also located near San Diego State University, supporting long-term rental demand in the surrounding area.
Key Highlights
- 8 single‑story units across three duplex structures on a 0.72‑acre corner lot
- Unit mix includes 1 three‑bedroom/1‑bath home, 1 one‑bedroom/1‑bath home, and 6 two‑bedroom/1‑bath units
- Each unit features newer appliances and a private fenced backyard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$102,102
Cap Rate
3.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,042,040
$2.0M
Cap Rate 7%
$1,458,600
$1.5M
Cap Rate 9%
$1,134,467
$1.1M
Market Conditions
NOI Build-Up for 6,145 SF
Gross rent
$195.4K $31.80/SF
− Vacancy
−$9.8K −$1.59/SF
EGI
$185.6K $30.21/SF
− OpEx
−$83.5K −$13.59/SF
NOI
$102.1K $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 Rate 5%
$2,042,040
Cap Rate 7%
$1,458,600
Cap Rate 9%
$1,134,467
Alternative Uses
Best Use
Apartment 5plus
$1.46M
$1.28M – $1.70M
NOI $102,102 @ 7.0% cap · market cap 3.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.82M
$2.46M – $3.28M
NOI $197,080 @ 7.0% cap · market cap 5.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
8
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,147
Businesses Nearby
Explore this area
Business Placement
Demographics for 91941, CA
33,895
Population
13,250
Households
2.6
Avg Household Size
41
Median Age
46%
College-Educated
95%
High-School Grad
8.2 sq mi
ZIP Area
4,134
Density / Sq Mi
$111,607
Median Household Income
$53,995
Median Earnings
$2,067
Median Rent
$884,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Apartment building - Eight single-story units across three duplex structures on a 0.72-acre corner lot with private fenced backyards.
Where is this apartment building located?
The property is located at 6935 Hoffman Ave La Mesa, CA.
What is the asking price?
The asking price for this property is $3,295,000.
What are key features of this property?
This property features: 8 single‑story units across three duplex structures on a 0.72‑acre corner lot; Unit mix includes 1 three‑bedroom/1‑bath home, 1 one‑bedroom/1‑bath home, and 6 two‑bedroom/1‑bath units; Each unit features newer appliances and a private fenced backyard
