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5590 Shasta Ln 3 Unit Apartment Building $3,203,636 CAD ($1,067,879 CAD/Unit) 4.34% Cap Rate La Mesa, CA 91942
INVESTMENT HIGHLIGHTS
- 3 Turn Key Units
- Fully Landscaped
- City Approval for 6 Additional ADUs
EXECUTIVE SUMMARY
5588-90 Shasta Ln in La Mesa is a rare three-unit multifamily property situated on a large 16,089 square foot lot with approximately 2,793 square feet of building area. Fully renovated in 2024, the property is offered at $2,350,000, equating to roughly $783,333 per unit and $841 per square foot. Current operations produce $11,800 in monthly income, or $141,600 annually, with estimated expenses of approximately $37,175, resulting in a net operating income of about $104,425. This reflects an in-place cap rate of 4.24 percent with potential to reach 4.75 percent at market rents, supported by a 15.3 market GRM. Located in the heart of La Mesa, the property benefits from strong rental demand due to its proximity to retail, dining, transit, and major employment hubs, as well as easy freeway access and a vibrant community atmosphere. With stable income, immediate cash flow, and long-term value growth potential, this offering presents investors with both secure returns and future development upside in one of East County’s most desirable rental markets.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$492,481
|
$176.33
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$14,774
|
$5.29
|
| Effective Gross Income |
$477,706
|
$171.04
|
| Taxes |
$89,283
|
$31.97
|
| Operating Expenses |
$57,467
|
$20.58
|
| Total Expenses |
$146,750
|
$52.54
|
| Net Operating Income |
$330,956
|
$118.49
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $492,481 |
| Annual Per SF | $176.33 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $14,774 |
| Annual Per SF | $5.29 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $477,706 |
| Annual Per SF | $171.04 |
| Taxes (CAD) | |
|---|---|
| Annual | $89,283 |
| Annual Per SF | $31.97 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $57,467 |
| Annual Per SF | $20.58 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $146,750 |
| Annual Per SF | $52.54 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $330,956 |
| Annual Per SF | $118.49 |
PROPERTY FACTS
| Price | $3,203,636 CAD | Apartment Style | Single-Family Home |
| Price Per Unit | $1,067,879 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.37 AC |
| Cap Rate | 4.34% | Building Size | 2,793 SF |
| Gross Rent Multiplier | 16.6 | Average Occupancy | 100% |
| No. Units | 3 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1957 |
| Property Subtype | Apartment | Parking Ratio | 2.86/1,000 SF |
| Zoning | R3 - R3 zoning & lot size also allows for development of 5 additional detached (ADU) units, or a maximum of 10-20 consecutive units up to 5 floors through | ||
| Price | $3,203,636 CAD |
| Price Per Unit | $1,067,879 CAD |
| Sale Type | Investment |
| Cap Rate | 4.34% |
| Gross Rent Multiplier | 16.6 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single-Family Home |
| Building Class | B |
| Lot Size | 0.37 AC |
| Building Size | 2,793 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1957 |
| Parking Ratio | 2.86/1,000 SF |
| Zoning | R3 - R3 zoning & lot size also allows for development of 5 additional detached (ADU) units, or a maximum of 10-20 consecutive units up to 5 floors through |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Disposal
- Fireplace
- Microwave
- Storage Space
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Tile Floors
- Crown Molding
- Double Vanities
- Eat-in Kitchen
- Kitchen
- Granite Countertops
- Hardwood Floors
- Vaulted Ceiling
- High Speed Internet Access
- Ice Maker
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Sunroom
- Yard
- Attic
- Breakfast Nook
- Deck
- Dining Room
- Double Pane Windows
- Family Room
- Framed Mirrors
- Freezer
- Garden
- Handrails
- Island Kitchen
- Lawn
- Linen Closet
- Loft Layout
- Office
- Porch
- Skylights
SITE AMENITIES
- Courtyard
- Fenced Lot
- Laundry Facilities
- Picnic Area
- Gated
- Furnished Units Available
- Guest Apartment
- Gas Range
- Smoke Free
- Walking/Biking Trails
- Wi-Fi
- Storage Space
- Community-Wide WiFi
- Lake Access
- Multi Use Room
- Sundeck
- Zen Garden
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | - | 347 - 685 |
| 3+2 | 1 | - | 1,500 |
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PROPERTY TAXES
| Parcel Number | 464-292-17 | Total Assessment | $1,895,884 CAD (2025) |
| Land Assessment | $1,430,856 CAD (2025) | Annual Taxes | $89,283 CAD ($31.97 CAD/SF) |
| Improvements Assessment | $465,028 CAD (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
464-292-17
Land Assessment
$1,430,856 CAD (2025)
Improvements Assessment
$465,028 CAD (2025)
Total Assessment
$1,895,884 CAD (2025)
Annual Taxes
$89,283 CAD ($31.97 CAD/SF)
Tax Year
2024
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5590 Shasta Ln
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