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7902-8 Lester Ave Lemon Grove, CA 91945
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Key Details
Sold Price $1,100,000
Property Type Multi-Family
Sub Type Res Income 2-4 Units
Listing Status Sold
Purchase Type For Sale
Subdivision Lemon Grove
MLS Listing ID 260009392
Bedrooms 7
Full Baths 4
Year Built 1953
Property Sub-Type Res Income 2-4 Units
Property Description
**4 UNITS, VALUE ADD, 6.91% PROFORMA CAP RATE** 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. 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. 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.
Location
State CA
County San Diego
Area East County
Exterior
Fence Partial
View Y/N No
Roof Type Composition
Building
Story 2
Others
Acceptable Financing Cash, Conventional, Exchange
Listing Terms Cash, Conventional, Exchange
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Bought with Caleb Mancini Apartment Realty Group (ARG)
NEARBY SCHOOLS & BUSINESSES
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