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Value-Add 4-Unit Lemon Grove 7902 Lester Ave 4 Unit Apartment Building $1,638,792 CAD ($409,698 CAD/Unit) Lemon Grove, CA 91945
Investment Highlights
- 132% Upside in Rental Income
- Value-Add 4-Unit Surrounded by Redevelopment
- New Roof (2025)
- Strong Unit Mix: (3) 2Bedroom Units + (1) 1Bedroom Unit
- 6.91% Proforma Cap Rate
Executive Summary
This 4-unit property is positioned in the heart of Lemon Grove and sits within a transforming redevelopment corridor. The location offers convenient access to local retail, transit, and community amenities, making it an attractive long-term rental market as the neighborhood continues to evolve. The property features three (3) 2bedroom/1bath units and one (1) 1bedroom/1bath unit, along with four (4) off-street parking spaces. There is approximately 132% upside in rental income and a new roof was installed in 2025. Surrounded by ongoing redevelopment projects and neighborhood investment, this property represents a compelling value-add opportunity at one of the best price points for a 4-unit in San Diego County. With renovations and re-tenanting, investors can unlock substantial NOI growth and capitalize on the area’s upward trajectory.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,638,792 CAD | Building Class | C |
| Price Per Unit | $409,698 CAD | Lot Size | 0.13 AC |
| Sale Type | Investment | Building Size | 2,880 SF |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1953 |
| Property Subtype | Apartment | Parking Ratio | 1.39/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | DVSP - Specific Plan | ||
| Price | $1,638,792 CAD |
| Price Per Unit | $409,698 CAD |
| Sale Type | Investment |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 2,880 SF |
| No. Stories | 2 |
| Year Built | 1953 |
| Parking Ratio | 1.39/1,000 SF |
| Zoning | DVSP - Specific Plan |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 3 | $1,416 CAD | 750 |
| 1+1 | 1 | $1,366 CAD | 600 |
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Good public transit
70/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 475-472-21 | Total Assessment | $404,182 CAD (2025) |
| Land Assessment | $171,081 CAD (2025) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $233,101 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
475-472-21
Land Assessment
$171,081 CAD (2025)
Improvements Assessment
$233,101 CAD (2025)
Total Assessment
$404,182 CAD (2025)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2026
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Value-Add 4-Unit Lemon Grove | 7902 Lester Ave
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