La Mesa Townhome
7125 Waite Dr San Diego, CA 91941
For Sale
$3,960,000
Twelve-unit townhome community with two-bedroom units and recent upgrades.
Property Size10,380 SF
Lot Size0.48 Acres
Price / SF$381.50
Days on Market97
Property Features for 7125 Waite Dr
General Information
Standard status
Active
Size
10,380 SF
Lot size
0.48 Acres
Property subtype
Commercial
Listing Agency:
(206) 930-9539
Listed By:
Anthony Scalzo
(206) 930-9539
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 28 at 7:00AM
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 Anthony Scalzo
Investment Insights
Based on property information with market context.
Waite Townhomes, located at 7125 Waite Drive in La Mesa, California, is a twelve-unit townhome community featuring all two-bedroom, one-and-a-half-bath floor plans. Constructed in 1972, the property consists of two six-unit buildings situated on a 21,104 square foot lot. There are twenty-six parking spaces arranged in thirteen tandem stalls. Each townhome measures approximately 865 square feet and includes a private rear patio. Eleven of the twelve units have been renovated to include upgraded interiors. A new roof was installed in 2021, and all windows and sliding glass doors were replaced in 2022. Over $300,000 in capital expenditures were completed in 2025. The property has a bike score of 42, indicating it is somewhat bikeable, a walk score of 64, indicating it is somewhat walkable, and a transit score of 37, indicating some transit options are available.
Key Highlights
- Eleven of twelve units renovated with upgraded interiors.
- New roof installed in 2021, new windows and sliding glass doors in 2022, and over $300,000 in capital expenditures completed in 2025.
- All units are a desirable two‑bedroom, one‑and‑a‑half‑bath townhome floor plan.
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $330.1k | $31.80 |
| − Vacancy | −$18.2k | −$1.75 |
| EGI | $311.9k | $30.05 |
| − OpEx | −$140.4k | −$13.52 |
| NOI | $171.6k | $16.53 |
10,380 SF · lease $31.80/SF/yr · vacancy 5.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.45M
$2.14M – $2.86M
NOI $171,561 @ 7.0% cap · market cap 4.33%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.10M
$3.59M – $4.78M
NOI $286,986 @ 7.0% cap · market cap 7.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Twelve-unit townhome community with two-bedroom units and recent upgrades.
Where is this apartment building located?
The property is located at 7125 Waite Dr San Diego, CA.
What is the asking price?
The asking price for this property is $3,960,000.
What are key features of this property?
This property features: Eleven of twelve units renovated with upgraded interiors.; New roof installed in 2021, new windows and sliding glass doors in 2022, and over $300,000 in capital expenditures completed in 2025.; All units are a desirable two‑bedroom, one‑and‑a‑half‑bath townhome floor plan.
