Renovated Craftsman
For Sale
Contact for pricing
8318-20 Allison, La Mesa, CA 91942
Two side-by-side units offer residential and commercial zoning, private yards, laundry, and off-street parking.
Property Size2,600 SF
Price / SF$634.62
Days on Market148
Property Features for 8318-20 Allison
General Information
Standard status
Active
Size
2,600 SF
Property subtype
Multifamily
Zoning
CD-D
Units
Unit Mix
1 x 3BR/2.5BA, 1 x 3BR/1.5BA
Multifamily Units
2
Amenities
private fenced yards
private laundry
front porch
Building Details
Year Built
1925
Year Renovated
2011
Buildings
1
Units
2
Construction
Craftsman
Listing Agency:
Pacific Sotheby's Int'l Realty
Listed By:
Jill Hansen · License #01989662
Source:
Crexi
Added: Apr 7
Changed: Aug 30
Last Checked: Aug 30 at 3:13PM
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 Pacific Sotheby's Int'l Realty
Investment Insights
Based on property information with market context.
The Bowers House is a Craftsman duplex at 8318-20 Allison Avenue, with two side-by-side residences totaling approximately 2,600 square feet. Unit 8318 includes 3 bedrooms and 2.5 baths, while Unit 8320 provides 3 bedrooms and 1.5 baths. Both units have private fenced yards, private laundry, and off-street parking. Four vintage garages add storage and vehicle capacity.
Built in 1925 and extensively renovated in 2011, the property retains period features including hardwood floors, glass-inlay paneled doors, crystal knobs, and a covered front porch. The CD-D zoning designation supports both residential and commercial use. The property is located one block from La Mesa Boulevard in La Mesa Village, providing a flexible setting for continued residential occupancy, a live/work arrangement, or other uses allowed under the zoning.
Built in 1925 and extensively renovated in 2011, the property retains period features including hardwood floors, glass-inlay paneled doors, crystal knobs, and a covered front porch. The CD-D zoning designation supports both residential and commercial use. The property is located one block from La Mesa Boulevard in La Mesa Village, providing a flexible setting for continued residential occupancy, a live/work arrangement, or other uses allowed under the zoning.
Key Highlights
- Two side‑by‑side units totaling approximately 2,600 square feet
- Unit 8318: 3 bedrooms and 2.5 baths; Unit 8320: 3 bedrooms and 1.5 baths
- CD‑D zoning allows residential and commercial use
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
$60,161
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
3.65%
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%
$1,203,220
$1.2M
Cap Rate 7%
$859,443
$859.4K
Cap Rate 9%
$668,456
$668.5K
Market Conditions
NOI Build-Up for 2,600 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
$93.6K $36.00/SF
− Vacancy
−$13.4K −$5.15/SF
EGI
$80.2K $30.85/SF
− OpEx
−$20.1K −$7.71/SF
NOI
$60.2K $23.14/SF
Area
San Diego County, CA
Vacancy
14.30%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
25.00%
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%
$1,203,220
Cap Rate 7%
$859,443
Cap Rate 9%
$668,456
Alternative Uses
Best Use
Office B
$859.4K
$752.0K – $1.00M
NOI $60,161 @ 7.0% cap · market cap 3.65%
Second Best
Mixed Use
$802.2K
$701.9K – $935.9K
NOI $56,151 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$1.19M
$1.04M – $1.39M
NOI $83,386 @ 7.0% cap · market cap 5.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,571
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 Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two side-by-side units offer residential and commercial zoning, private yards, laundry, and off-street parking.
Where is this duplex located?
The property is located at 8318-20 Allison La Mesa, CA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Two side‑by‑side units totaling approximately 2,600 square feet; Unit 8318: 3 bedrooms and 2.5 baths; Unit 8320: 3 bedrooms and 1.5 baths; CD‑D zoning allows residential and commercial use
