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

    8515 Chloe Ave La Mesa, CA 91942-2809

    • Apartment buildings
    • 64,020 SF
    • 2.38 lot acres
    OFF-MARKET
    Value Estimations
    $14,090,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-7265050
    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

    • Elán Avante Apartments / Apartment Complex
    • The SD Criminal Law Office / Criminal Justice Attorney / Service Establishment
    • Dr. Ducts of San Diego / Air Duct Cleaning Service

    Property Details for 8515 Chloe Ave

    Year built
    1970
    Lot size
    2.38 lot acres
    Property size
    64,020 SF
    Zone code
    R-4:MULTIPLE RESIDENTIAL
    Property type
    Apartment buildings
    APN
    490-293-15-00
    APU
    4902931500

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $17,730,000
      6.5%
      $16,365,000
      7%
      $15,195,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $14,012,000
      Market price range: $9.46M - $32.2M
      AI Estimate
      $11,897,000
      Market price range: $3.22M - $24.2M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $17,755,000
      Current use
      OFFICE BUILDING
      $23,085,000
      Change: +30% 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
    -117.015
    Latitude
    32.781
    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
    $196,877
    $4,807,302
    $9,921,077
    $14,728,379
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.38 Acres

      7334 La Mesita Pl

      APARTMENT HOUSE (5+ UNITS) • 0.38 Acres
      7334 La Mesita Pl, La Mesa, CA 91942-7807
      View Details
    • Value Estimation by Request
      5.34 Acres

      5545 Morro Way

      APARTMENT HOUSE (5+ UNITS) • 5.34 Acres
      5545 Morro Way, La Mesa, CA 91942-2196
      View Details
    • Value Estimation by Request

      8181 Allison Ave

      APARTMENT HOUSE (5+ UNITS)
      8181 Allison Ave, La Mesa, CA 91942-5504
      View Details
    • Value Estimation
      $9,295,000
      28,560 SF

      5476 Kiowa Dr

      APARTMENT HOUSE (5+ UNITS) • 28,560 SF
      5476 Kiowa Dr, La Mesa, CA 91942-1344
      View Details
    • Value Estimation
      $9,025,000
      37,637 SF

      5565 Lk Murray Blvd

      APARTMENT HOUSE (5+ UNITS) • 37,637 SF
      5565 Lk Murray Blvd, La Mesa, CA 91942-4212
      View Details
    • Value Estimation
      $3,725,000
      27,108 SF

      5519 Lk Murray Blvd

      APARTMENT HOUSE (5+ UNITS) • 27,108 SF
      5519 Lk Murray Blvd, La Mesa, CA 91942-4203
      View Details

    Similar Nearby for Sale

    • $6,100,000

      Mixed-Use Property in La Mesa

      Fully leased mixed-use property with retail and apartment components.
      8870 La Mesa Blvd, La Mesa, CA 91942
      View Details
    • $4,500,000

      Value-Add 12-Unit Apartment Homes

      Cottage-style apartment homes with private yards in strong rental market.
      5015 Comanche Dr, La Mesa, CA 91942
      View Details
    • $2,295,000

      La Mesa Multifamily with ADU Potential

      Stabilized, renovated multifamily property with ADU potential in La Mesa.
      5590 Shasta Ln, La Mesa, CA 91942
      View Details
    • $1,395,000

      La Mesa Fourplex Investment Opportunity

      Value-add fourplex near Grossmont Center and SDSU.
      8615 Mellmanor Dr, La Mesa, CA 91942
      View Details
    • $934,500

      La Mesa Duplex with Garages

      Charming La Mesa duplex with private yards and garages.
      6161 Horton Dr, La Mesa, CA 91942
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    • $990,000

      La Mesa Duplex Investment Property

      Well-maintained La Mesa duplex with updated units and stable tenants.
      6090 Severin Dr, La Mesa, CA 91942
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      42,634 SF

      La Mesa Retail Center Opportunity

      Prime La Mesa storefront space available.
      6101 Lake Murray Blvd, La Mesa, CA 91942
      View Details
    • Contact for pricing
      5,900 SF

      Retail Space in La Mesa

      High-visibility retail building in the heart of La Mesa.
      5310 Jackson Dr, La Mesa, CA 91942
      View Details
    • Contact for pricing

      La Mesa Office Property

      Fully leased office property in La Mesa, California.
      5400 Connecticut Ave, La Mesa, CA 91942
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space in La Mesa

      Retail space available for lease in La Mesa, CA.
      5634 Lake Murray Blvd, La Mesa, CA 91942
      View Details
    • $1.65 SF/Yr
      1,358 SF

      Retail Space For Lease

      Retail space available for lease.
      6055-6063 Lake Murray Blvd, La Mesa, CA 91942
      View Details
    • Contact for pricing
      3,343 SF

      Medical Suite for Lease

      Medical suite available for lease in La Mesa, California.
      8860 Center Dr, La Mesa, CA 91942
      View Details
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    8515 Chloe Ave
    La Mesa, CA 91942-2809
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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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