7025 Boulevard Dr
Fully renovated 20-unit garden-style multifamily property in La Mesa, California, offered at $5,450,000 at a 5.19% cap. The Class C asset features a balanced unit mix of eight two-bedroom/one-bath, eight one-bedroom/one-bath, and four studio apartments, currently 100% occupied and generating immediate cash flow with minimal deferred maintenance.
Built in 1956 and comprehensively renovated in 2025, the 12,352 SF, two-story building sits on 0.31 acres with a 1:1 parking ratio. Recent capital improvements include renovations to 16 units, electrical system upgrades, epoxy-lined sewer mains, dual-pane windows, and new pitched roofs—substantially reducing future capital expenditures. The property features gated access and laundry services, maintaining the appeal of a low-density garden-style community.
Located on Boulevard Drive near major transportation corridors and the retail and dining amenities along University Avenue, the property benefits from proximity to metro, bus lines, commuter rail, and airport access. The highly desirable La Mesa location is known for strong occupancy and stable operations, supporting attractive long-term investment performance.
- Fully renovated in 2025 with 16 units updated and major systems upgraded
- 100% occupied, turnkey operation with immediate cash flow
- Balanced unit mix (8 two-bed, 8 one-bed, 4 studios) in low-density garden setting
- 1:1 parking ratio and gated access
- Near transit, retail, and dining along University Avenue
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Features & amenities
Location
7025 Boulevard Dr presents a fully renovated, turnkey 20-unit garden-style multifamily property offering immediate cash flow, rental growth potential, and extensive infrastructure upgrades. Conveniently located near major transportation routes and the retail, dining, and amenities along University Avenue, the property occupies a highly desirable Class B location known for strong occupancy, stable operations, and attractive long-term investment performance.Current ownership has completed substantial capital improvements, including renovations to 16 units, electrical system upgrades, epoxy-lined sewer mains, dual-pane windows, new pitched roofs, and numerous interior and exterior enhancements, minimizing deferred maintenance and future capital expenditures.The property features a well-balanced unit mix of eight twobedroom/one-bath units, eight one-bedroom/one-bath units, and four studio apartments. Additional amenities include gated access and a 1:1 parking ratio, providing operational efficiency while maintaining the appeal of a low-density garden-style community.