Three-Unit Multifamily
For Sale
$1,339,995
Pending
7361 - 7367 LA MESITA PL, La Mesa, CA 91942
Residential Income, La Mesa, CA
Property Size3,360 SF
Lot Size0.27 Acres
Days on Market46
Property Features for 7361 - 7367 LA MESITA PL
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-4:MULTIP
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 1, Bedroom 5, Bedroom 3, Bedroom 4, Bathroom 4, Bathroom 3, Bedroom 1, Bedroom 8, Bedroom 6, Bathroom 2, Bedroom 7, Bedroom 2
Subdivision
LA MESA
Standard status
Pending
APN
469-212-23-00
Size
3,360 SF
Lot size
0.27 Acres
Amenities
private laundry
Building Details
Year built
1950
Floors in Building
1
Number of units
3
Roof type
Composition
Listing Agency:
Cal State Realty Services
(858) 312-4905
Listed By:
Justin B Roberts · License #01294574
(619) 851-1677
Added: Jul 16
Changed: Aug 28
Last Checked: Aug 30 at 5:06PM
MLS# 260017368
Copyright © 2026 San Diego MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This three-unit multifamily property contains a 3,360-square-foot detached four-bedroom house, with an optional fifth bedroom, plus two separate two-bedroom units. The main residence includes updated bathrooms with tile showers, new carpet, and fresh paint. One two-bedroom unit was remodeled in 2024 with a new kitchen, updated flooring, and a renovated bathroom. Each unit has a private driveway, off-street parking, yard space, and private laundry. The property was built in 1950 and sits on 0.2733 acres under R-4:MULTIP zoning.
Located in La Mesa at 7361 - 7367 La Mesita Pl, the property is within 2.5 miles of SDSU and Mission Valley. Its residential configuration supports separate living spaces within one multifamily asset, with the detached house and two additional units providing a total of eight bedrooms and four bathrooms.
Located in La Mesa at 7361 - 7367 La Mesita Pl, the property is within 2.5 miles of SDSU and Mission Valley. Its residential configuration supports separate living spaces within one multifamily asset, with the detached house and two additional units providing a total of eight bedrooms and four bathrooms.
Key Highlights
- 3,360‑square‑foot multifamily property on 0.2733 acres
- Detached four‑bedroom house with optional fifth bedroom
- Two additional units, each with two bedrooms
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
$60,202
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
4.49%
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%
$1,204,040
$1.2M
Cap Rate 7%
$860,029
$860.0K
Cap Rate 9%
$668,911
$668.9K
Market Conditions
NOI Build-Up for 3,360 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
$90.7K $27.00/SF
− Vacancy
−$4.7K −$1.40/SF
EGI
$86.0K $25.60/SF
− OpEx
−$25.8K −$7.68/SF
NOI
$60.2K $17.92/SF
Area
San Diego County, CA
Vacancy
5.20%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,204,040
Cap Rate 7%
$860,029
Cap Rate 9%
$668,911
Alternative Uses
Best Use
Multifamily LT 5
$860.0K
$752.5K – $1.00M
NOI $60,202 @ 7.0% cap · market cap 4.49%
Second Best
Apartment 5plus
$797.5K
$697.9K – $930.5K
NOI $55,828 @ 7.0% cap · market cap 4.17%
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $107,761 @ 7.0% cap · market cap 8.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,680
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?
Multifamily property - Detached primary residence with two additional units, private outdoor areas, parking, and laundry facilities.
Where is this multifamily property located?
The property is located at 7361 - 7367 LA MESITA PL La Mesa, CA.
What is the asking price?
The asking price for this property is $1,339,995.
What are key features of this property?
This property features: 3,360‑square‑foot multifamily property on 0.2733 acres; Detached four‑bedroom house with optional fifth bedroom; Two additional units, each with two bedrooms
