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    8515 Chloe Ave La Mesa, CA 91942-2809
    Property profile & analytics

    8515 Chloe Ave La Mesa, CA 91942-2809

    View on Map
    • Apartment buildings
    • 64,020 SF
    • 2.38 lot acres
    Off-Market
    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.
    Value Estimations
    $14,090,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Elán Avante Apartments / Apartment Complex
    • The SD Criminal Law Office / Law Firm
    • Dr. Ducts of San Diego / HVAC 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 estimation — 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
      0.90 Acres

      5877 Baltimore Dr, Unit 79

      APARTMENT HOUSE (5+ UNITS) • 0.90 Acres
      5877 Baltimore Dr, La Mesa, CA 91942-4231
      View Details
    • Value Estimation
      $740,000
      4.77 Acres

      4949 Baltimore Dr, Unit 79

      APARTMENT HOUSE (5+ UNITS) • 4.77 Acres
      4949 Baltimore Dr, La Mesa, CA 91942-6500
      View Details
    • Value Estimation
      $4,025,000
      30,399 SF

      5455 Kiowa Dr

      APARTMENT HOUSE (5+ UNITS) • 30,399 SF
      5455 Kiowa Dr, La Mesa, CA 91942-1345
      View Details
    • Value Estimation
      $11,200,000
      41,022 SF

      5555 Lk Murray Blvd

      APARTMENT HOUSE (5+ UNITS) • 41,022 SF
      5555 Lk Murray Blvd, La Mesa, CA 91942-4211
      View Details
    • Value Estimation
      $1,070,000
      6,908 SF

      4830 Park Ave, Unit 34

      APARTMENT HOUSE (5+ UNITS) • 6,908 SF
      4830 Park Ave, La Mesa, CA 91942-7698
      View Details
    • Value Estimation
      $4,255,000
      14,728 SF

      5900 Severin Dr

      APARTMENT HOUSE (5+ UNITS) • 14,728 SF
      5900 Severin Dr, La Mesa, CA 91942-3854
      View Details

    Similar Nearby for Sale

    • $990,000

      R3 Zoned Multi-Unit Residential

      Multi-unit residential property with development potential near SDSU and Grossmont.
      7380 Mohawk St, La Mesa, CA 91942
      View Details
    • Contact for pricing
      18,048 SF

      Mixed-Use Property in La Mesa

      Fully leased mixed-use property with cash flow and redevelopment potential.
      8870-78 La Mesa Blvd, La Mesa, CA 91942
      View Details
    • Contact for pricing
      1,500 SF

      R3 Zoned Multifamily Property

      Multifamily property with development potential near SDSU and Grossmont College.
      7380 Mohawk St, La Mesa, CA 91942
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Office Space Available For Lease

      Office space for lease at 5480 Baltimore Dr, La Mesa.
      5480 Baltimore Dr, La Mesa, CA 91942
      View Details
    • Contact for pricing

      Office Space for Lease

      Office space available for lease in La Mesa, California.
      5360 Jackson Dr, La Mesa, CA 91942
      View Details
    • Contact for pricing
      1,552 SF

      Retail Space in La Mesa

      Retail space centrally located in the heart of La Mesa.
      8030-8076 La Mesa Blvd, La Mesa, CA 91942
      View Details
    • Contact for pricing
      1,500 SF

      La Mesa Retail/Office Space

      Retail or office space featuring an open floor plan.
      5276-5282 Baltimore Dr, La Mesa, CA 91942
      View Details
    • Contact for pricing
      880 SF

      Boutique Medical Office Space

      Medical office space with pristine finishes and high-end aesthetics.
      5200 Lake Murray Blvd, La Mesa, CA 91942
      View Details
    • Contact for pricing
      1,400 SF

      La Mesa Retail Space Available

      Retail space available for lease in La Mesa, CA.
      5630-5650 Lake Murray Blvd, 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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    8515 Chloe Ave, La Mesa, CA, 91942
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