Four-Unit Residential Income
7902-8 Lester Ave Lemon Grove, CA 91945
7902-8 Lester Ave, Lemon Grove, CA, 91945
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For Sale
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Three 2-bed/1-bath units and one 1-bed/1-bath unit with four off-street parking spaces.
Property Size2,880 SF
Price / SF$416.67
Days on Market93
Property Features for 7902-8 Lester Ave
General Information
- Standard status
- Active
- Size
- 2,880 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1953
Listing agency
Apartment Realty Group (ARG)
Listed by
Caleb Mancini · License #02253641
Source
Crexi
Added: Apr 20 Updated: Jul 21 at 7:03AM Checked: Jul 21 at 7:03AM
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 Apartment Realty Group (ARG)
Investment Insights
Based on property information with market context.
This four-unit residential income property includes three 2-bedroom/1-bath units and one 1-bedroom/1-bath unit. The building also has four off-street parking spaces. A new roof was installed in 2025.
The property is located at 7902-8 Lester Ave in Lemon Grove, CA, with convenient access to local retail, transit, and community amenities. Public remarks also note ongoing redevelopment and neighborhood investment in the surrounding area.
From a configuration standpoint, the unit mix provides multiple larger apartments alongside a smaller unit within the same fourplex structure, supported by dedicated parking for residents.
The property is located at 7902-8 Lester Ave in Lemon Grove, CA, with convenient access to local retail, transit, and community amenities. Public remarks also note ongoing redevelopment and neighborhood investment in the surrounding area.
From a configuration standpoint, the unit mix provides multiple larger apartments alongside a smaller unit within the same fourplex structure, supported by dedicated parking for residents.
Key Highlights
- 4‑unit rental with three 2 bed/1 bath units and one 1 bed/1 bath unit
- New roof installed in 2025
- Four off‑street parking spaces included
Local Financial Insights For Multifamily LT 5
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 | $77.8k | $27.00 |
| − Vacancy | −$4.0k | −$1.40 |
| EGI | $73.7k | $25.60 |
| − OpEx | −$22.1k | −$7.68 |
| NOI | $51.6k | $17.92 |
2,880 SF · lease $27.00/SF/yr · vacancy 5.20% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$737.2K
$645.0K – $860.0K
NOI $51,602 @ 7.0% cap · market cap 4.30%
Second Best
Apartment 5plus
$683.6K
$598.2K – $797.6K
NOI $47,853 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$1.32M
$1.15M – $1.54M
NOI $92,366 @ 7.0% cap · market cap 7.70%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Three 2-bed/1-bath units and one 1-bed/1-bath unit with four off-street parking spaces.
Where is this quadplex located?
The property is located at 7902-8 Lester Ave Lemon Grove, CA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 4‑unit rental with three 2 bed/1 bath units and one 1 bed/1 bath unit; New roof installed in 2025; Four off‑street parking spaces included
