7987 Normal Ave 3 Unit Apartment Building $1,770,226 CAD ($590,075 CAD/Unit) 3.52% Cap Rate La Mesa, CA 91941

7987–91 Normal Ave presents a compelling three-unit investment opportunity located in a desirable La Mesa neighborhood, known for its strong rental demand, suburban charm, and convenient access to major employment corridors throughout San Diego County.
The property comprises three (3) units, including two (2) 2 Bed / 1 Bath units and one (1) 1 Bed / 1 Bath unit, totaling approximately 2,052 rentable square feet situated on a 5,015 square foot lot. The asset is configured within a single structure and benefits from efficient, functional layouts that appeal to a broad tenant base. Each unit features dedicated in-unit laundry, with the two-bedroom units offering stacked washer/dryer combinations in the kitchens, while the rear one-bedroom unit includes a full-size side-by-side washer and dryer located on a covered patio area. The property also offers three off-street parking spaces, along with additional storage above the parking area, a private storage closet for the rear unit, and common storage cabinets within the courtyard.
All units offer both front and rear entry points, enhancing livability and accessibility. The front doors open to a shared, gated courtyard with secure key access, while an additional gated entry near the carport provides access to the rear of the property—creating a strong sense of privacy and security throughout the complex. Large windows throughout each unit provide abundant natural light, contributing to a bright and inviting living environment. Notably, the rear one-bedroom unit lives more like a standalone home, offering a unique and highly desirable layout for tenants.
The property is currently in a "Value-Add" condition, offering a well-maintained investment with updated interiors and consistent ownership upkeep. This presents an opportunity for a new owner to continue improving the asset over time while capturing additional rental upside.
With its attractive unit mix, manageable size, and strong location fundamentals, 7987–91 Normal Ave offers investors a balanced opportunity to generate stable income today while unlocking additional upside through continued improvements over time.