7902-8 Lester Ave, Lemon Grove, CA 91945
- $1,200,000
- 7
- BD
- 4
- BA
- List Price
- $1,200,000
- Days on Market
- 101
- Status
- ACTIVE
- MLS#
- 260009392
- Bedrooms
- 7
- Bathrooms
- 4
- City
- Lemon Grove
- Neighborhood
- Downtown Village
- Complex/Building Name
- Downtown Village
- Property Type
- Multifamily
- Year Built
- 1953
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.
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Additional Information
- Building Name
- Downtown Village
- Cooling
- None
- Neighborhood
- Downtown Village
- Roof
- Composition
- Tenant Pays
- Electricity
- Year Built
- 1953
Mortgage Calculator
Listing courtesy of Listing Agent: Caleb Mancini (858-247-2487) from Listing Office: Apartment Realty Group (ARG).
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