Renovated Triplex with Private
For Sale
$1,399,895
7367 La Mesita Pl 7361, La Mesa, CA 91942
Three-unit property with private driveways, off-street parking, individual yards, and private laundry for each unit.
Property Size3,360 SF
Price / SF$416.64
Days on Market53
Property Features for 7367 La Mesita Pl 7361
General Information
Standard status
Active
Size
3,360 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 4BR, 2 x 2BR
Multifamily Units
3
Amenities
private driveways
off street parking yards
private laundry
Building Details
Year Built
1950
Listing Agency:
Cal State Realty Services
Listed By:
Justin B Roberts justin@justinsellssd.com
Source:
Viewsandiegorealestate
Added: Jul 10
Changed: Aug 30
Last Checked: Aug 30 at 5:57PM
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 Cal State Realty Services
Investment Insights
Based on property information with market context.
Built in 1950, this 3,360-square-foot triplex includes a detached four-bedroom house with an optional fifth bedroom plus two additional two-bedroom units. Each unit has a private driveway, off-street parking, its own yard, and private laundry, creating distinct residential layouts across the property’s over ¼-acre site.
The house features remodeled bathrooms with tile showers, along with new carpet and paint. Unit 7367 received a 2024 remodel that included a new kitchen, updated flooring, and a remodeled bathroom. The property is located within 2.5 miles of SDSU and Mission Valley.
The house features remodeled bathrooms with tile showers, along with new carpet and paint. Unit 7367 received a 2024 remodel that included a new kitchen, updated flooring, and a remodeled bathroom. The property is located within 2.5 miles of SDSU and Mission Valley.
Key Highlights
- 3,360‑square‑foot triplex on over ¼ acre
- Detached 4‑bedroom house with optional 5th bedroom
- Two additional 2‑bedroom units
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
4.30%
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 4.30%
Second Best
Apartment 5plus
$797.5K
$697.9K – $930.5K
NOI $55,828 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$1.54M
$1.35M – $1.80M
NOI $107,761 @ 7.0% cap · market cap 7.70%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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?
Triplex - Three-unit property with private driveways, off-street parking, individual yards, and private laundry for each unit.
Where is this triplex located?
The property is located at 7367 La Mesita Pl 7361 La Mesa, CA.
What is the asking price?
The asking price for this property is $1,399,895.
What are key features of this property?
This property features: 3,360‑square‑foot triplex on over ¼ acre; Detached 4‑bedroom house with optional 5th bedroom; Two additional 2‑bedroom units
