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Jewel of the Hills Apts | 5010-5040 Keeney Street La Mesa, CA

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Jewel of the Hills Apts | 5010-5040 Keeney Street La Mesa, CA

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Property Information:

Braun International is pleased to present a lucrative opportunity to Invest into a 50% TIC property located in La Mesa CA. Known as the “Jewel Of the Hills”, La Mesa sits just 9 miles from Downtown San Diego – offering an easy commute to the city hub along with short drives to pristine local beaches and entertainment. This property is situated less than a mile from the 8 freeway which offers tenants easy access to travel. Rated as the number 5 best place to live in the United States in 2006 by money magazine, San Diego housing is always in high demand.

Built in 1960, this 2 stories property boasts 2 buildings with a total of 40,828 leasable square feet. Composed of (30) 1-bedroom/1-bathroom 600 SF apartments along with (26) 2-bedroom/1-bathroom 900 SF apartments. This property offers excellent variety for prospective tenants. With other amenities such as a community pool, grassy area, and a garden that is throughout both complexes, tenants have ample outdoor space to enjoy.

Owned for nearly four decades, the property’s close proximity to the San Diego Metropolitan area and appeal of the overall region, this property is a unique opportunity for an investor attempting to break into the lucrative San Diego rental market.

Investment Highlights –
  • • 56 total units | Excellent Unit Mix
  • • Close proximity to San Diego
  • • Easy Commutes | Close Proximity to Recreation | beaches, entertainment etc.
  • • Professionally Managed
  • • Homes within 5 miles radius can be valued at nearly $1 million
  • • 5010-5040 Kenney has excellent Curb Appeal
  • • 50% Tenants In Common Interest
  • • Less than 1 mile from 8 freeway
  • • Approximately 1.2 parking spots per unit
  • • Courtyard design, open air living


Property Summary

The Offering:
  • • Property Address: 5010-5040 Kenney Street La Mesa, CA
  • • Assessors Parcel: 7369-013-027
  • • Zoning: RM3-7
  • • Site Description:
  • • Number Of Units: 56
  • • Number of buildings: 2
  • • Number OF stories: 2
  • • Year Built: 1960
  • • Gross SF: 40,828
  • • Lot Size: 1.25 acres
  • • Type Of Ownership: Free and Clear
  • • Parking: 24 free surface spaces & 44 free covered spaces


Construction:
  • • Foundation: Concrete
  • • Framing: Wood
  • • Exterior: Stucco