Garden-Style Apartment
New
For Sale
$20,880,000
9135 Mast Blvd, Santee, CA 92071
Residents have access to a pool, spa, laundry facilities, and outdoor gathering areas.
Property Size51,720 SF
Lot Size2.62 Acres
Price / SF$403.71
Days on Market5
Property Features for 9135 Mast Blvd
General Information
Standard status
Active
Size
51,720 SF
Total Parking Spaces
106
Lot size
2.62 Acres
Property subtype
Multi-Family
Additional Details
Highway Access
Yes
Multifamily Units
72
Amenities
swimming pool
spa
common-area laundry facilities
outdoor seating
barbecue areas
landscaped grounds
Building Details
Construction
garden-style
Listing Agency:
Eric D. Comer, Broker
Listed By:
Eric D Comer eric.comer@kidder.com
(951) 226-5454
Source:
Viewsandiegorealestate
Added: Oct 27
Changed: Oct 30
Last Checked: Oct 30 at 2:55PM
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 Eric D. Comer, Broker
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 72-unit apartment property occupies 2.62 acres in Santee and offers one- and two-bedroom layouts. Community features include a swimming pool, spa, shared laundry facilities, outdoor seating and barbecue areas, landscaped grounds, and 106 parking spaces. Approximately 26 apartments have received renovations at varying finish levels; 10 include new washer and dryer hookups. The property also has scope for further interior and exterior updates, with the potential to support rent growth and operating improvements.
Santee Lakes Recreation Preserve, a 190-acre destination with seven lakes, trails, fishing, boating, picnic areas, playgrounds, and a splash pad, is within walking distance. Shopping, restaurants, and daily services are available throughout Santee. Interstate 8 and State Route 52 provide regional connections to East County and the greater San Diego area.
Santee Lakes Recreation Preserve, a 190-acre destination with seven lakes, trails, fishing, boating, picnic areas, playgrounds, and a splash pad, is within walking distance. Shopping, restaurants, and daily services are available throughout Santee. Interstate 8 and State Route 52 provide regional connections to East County and the greater San Diego area.
Key Highlights
- 72 apartment homes with one- and two‑bedroom floor plans
- 2.62‑acre property with 106 on‑site parking spaces
- Pool, spa, shared laundry facilities, and outdoor seating and barbecue areas
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$859,354
Cap Rate
4.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$17,187,080
$17.2M
Cap Rate 7%
$12,276,486
$12.3M
Cap Rate 9%
$9,548,378
$9.5M
Market Conditions
NOI Build-Up for 51,720 SF
Gross rent
$1.64M $31.80/SF
− Vacancy
−$82.2K −$1.59/SF
EGI
$1.56M $30.21/SF
− OpEx
−$703.1K −$13.59/SF
NOI
$859.4K $16.62/SF
Area
San Diego County, CA
Vacancy
5.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$17,187,080
Cap Rate 7%
$12,276,486
Cap Rate 9%
$9,548,378
Alternative Uses
Best Use
Apartment 5plus
$12.28M
$10.74M – $14.32M
NOI $859,354 @ 7.0% cap · market cap 4.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$23.70M
$20.73M – $27.65M
NOI $1,658,747 @ 7.0% cap · market cap 7.94%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
72
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
302
Businesses Nearby
Explore this area
Business Placement
Demographics for 92071, CA
60,163
Population
21,732
Households
2.8
Avg Household Size
39
Median Age
33%
College-Educated
93%
High-School Grad
18.8 sq mi
ZIP Area
3,200
Density / Sq Mi
$105,603
Median Household Income
$57,045
Median Earnings
$2,202
Median Rent
$654,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Residents have access to a pool, spa, laundry facilities, and outdoor gathering areas.
Where is this apartment building located?
The property is located at 9135 Mast Blvd Santee, CA.
What is the asking price?
The asking price for this property is $20,880,000.
What are key features of this property?
This property features: 72 apartment homes with one- and two‑bedroom floor plans; 2.62‑acre property with 106 on‑site parking spaces; Pool, spa, shared laundry facilities, and outdoor seating and barbecue areas
