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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    6935 Hoffman Ave La Mesa, CA 91941-7459

    • Apartment buildings
    • 6,145 SF
    • 0.72 lot acres
    OFF-MARKET
    Last Sale
    Feb 22, 2021
    $2,200,000
    Value Estimations
    $2,115,000
    Show details
    Cap Rate Potential
    4.9%
    Apartment buildings
    Location Intelligence
    Property ID
    US09-9139257
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 6935 Hoffman Ave

    Year built
    1960
    Lot size
    0.72 lot acres
    Property size
    6,145 SF
    Zone code
    R-4:MULTIPLE RESIDENTIAL
    Property type
    Apartment buildings
    APN
    474-353-16-00
    APU
    4743531600

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,080,000
      ML approach
      $2,110,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,700,000
      6.5%
      $1,570,000
      7%
      $1,460,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,993,000
      Market price range: $757k - $1.99M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,535,000
      Current use
      MEDICAL BUILDING
      $2,530,000
      Change: +65% Conversion: Moderate
      RETAIL STORES
      $2,495,000
      Change: +63% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $2,345,000
      Change: +53% Conversion: Difficult
      OFFICE BUILDING
      $2,215,000
      Change: +44% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    La Mesa
    County
    San Diego
    State
    California
    Longitude
    -117.048
    Latitude
    32.7498
    CBSA code
    41740
    CBSA name
    SAN DIEGO-CARLSBAD-SAN MARCOS, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $30,424
    $1,379,570
    $955,087
    $2,334,657
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,185,000
      8,079 SF

      4445 Rosebud Ln

      APARTMENT HOUSE (5+ UNITS) • 8,079 SF
      4445 Rosebud Ln, La Mesa, CA 91941-6255
      View Details
    • Value Estimation
      $2,485,000
      13,939 SF

      4641 Date Ave

      APARTMENT HOUSE (5+ UNITS) • 13,939 SF
      4641 Date Ave, La Mesa, CA 91941-5278
      View Details
    • Value Estimation
      $895,000
      6,000 SF

      7033 Blvd Dr, Unit 1

      APARTMENT HOUSE (5+ UNITS) • 6,000 SF
      7033 Blvd Dr, La Mesa, CA 91941-7558
      View Details
    • Value Estimation
      $730,000
      6,126 SF

      8085 Pasadena Ave

      APARTMENT HOUSE (5+ UNITS) • 6,126 SF
      8085 Pasadena Ave, La Mesa, CA 91941-6466
      View Details
    • Value Estimation
      $1,050,000
      3,525 SF

      7870 Quince St

      APARTMENT HOUSE (5+ UNITS) • 3,525 SF
      7870 Quince St, La Mesa, CA 91941-6376
      View Details
    • Value Estimation
      $950,000
      5,940 SF

      4415 Rosebud Ln

      APARTMENT HOUSE (5+ UNITS) • 5,940 SF
      4415 Rosebud Ln, La Mesa, CA 91941-6237
      View Details

    Similar Nearby for Sale

    • $425,000

      Land For Sale

      Land available for sale.
      Alto Dr, La Mesa, CA 91941
      View Details
    • Contact for pricing

      Renovated Office Space in La Mesa

      Move-in ready office space with freeway access and parking.
      9633 Grossmont Summit Dr, La Mesa, CA 91941
      View Details
    • $419,999
      0.51 Acres

      La Mesa Land with Views

      Half-acre lot in La Mesa with panoramic views.
      Echo Dr, La Mesa, CA 91941
      View Details
    • New
      $140,000
      13,224.00 Acres

      View Lot in Mt. Helix

      View lot in Mt. Helix neighborhood, close to amenities.
      Grossmont Blvd, La Mesa, CA 91941
      View Details
    • $295,000

      Land with Panoramic Mountain Views

      Two lots with utilities and perc test completed.
      4364 Mayapan Dr 24 & 50, La Mesa, CA 91941
      View Details

    Similar Nearby for Lease

    • $36 SF/Yr
      7,457 SF

      La Mesa Medical Office Space For Lease

      Prime La Mesa Office Suites - Ample Parking
      3835 Avocado Blvd, La Mesa, CA 91941
      View Details
    • Contact for pricing
      200 SF

      Turn-Key Office Suites Available

      Turn-key office suites with shared reception and waiting area.
      3855 Avocado Blvd, La Mesa, CA 91941
      View Details
    • Contact for pricing
      2,428 SF

      Retail Space on Avocado Blvd

      In-line retail space available for rent in La Mesa, CA.
      3703-3773 Avocado Blvd, La Mesa, CA 91941
      View Details
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    La Mesa, CA 91941-7459
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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