The Casa Verde Apartments are a beautifully improved, maintained and gated 21 unit complex in the highly sought after La Mesa market. The complex has a prime unit mix of twenty (2 bed/1 bath 850 sq ft) units and one (1 bed/1 bath 500 sq ft) unit. This unique and rare property sits on over one full acre of prime real estate, a large portion of which is flat and undeveloped - offering the next owner the opportunity to develop units in the future in a high-demand rental market. Casa Verde gives ownership maximum flexibility - Value-add with minimal outlay of capital necessary (see extensive list of improvements below) along with a lucrative future development opportunity.
Due to the massive amount of land accompanying the existing 21 units, there is considerable development opportunity in the future. An investor can capitalize on the MF ADU regulation SB10 for up to 10 more units or SB290 density bonus program if there is an affordable housing component developed. Given La Mesa's state mandated requirement to add 3,797 before 2029, this parcel is the most attractive and logical site for more housing within La Mesa.
Casa Verde is wood frame construction with stucco exteriors and new Owens Corning 30+ year pitched composition roofs, originally built in 1958. There are two buildings located around the gated on-site parking and there is a beautiful courtyard affronting the gated and resurfaced pool/BBQ area along with an on-site laundry facility. Additionally, there is a renovated and secure office for on site management and accompanying maintenance room. All units have newer tile in the bathroom and kitchen and newer cabinetry throughout with continuous upgrade of flooring at every lease-turn. All units have been repainted with high quality Sherwin-Williams product. 100% of the bathrooms have new Milgard dual pane windows for ventilation, with many also having accompanying bathroom fans. Most units have upgraded wall heaters.
Casa Verde Improvements list includes but is not limited to:
Owens Corning 30+ year roof-shingles with new flashing, underlayment and new vents.
New rain gutters installed
Top of the line Milgard dual pane windows installed throughout the complex
Security Cameras
Completely resurfaced pool and tile, and newly installed Hayward filter system
Completed Sherwin-Williams exterior paint
Water-Efficient landscaping
Smith 100 gallon commercial water heater
Speedqueen laundry machines owned, conveying with property
La Mesa is a hidden gem within East County San Diego, with its tree-lined neighborhoods, its downtown village, and walkable streets set in the rolling hills of southwestern San Diego. La Mesa is the gateway to East County with access to all areas of San Diego through three major freeways, two trolley lines and five trolley stations. A vibrant city, La Mesa is home the Mt. Helix Park and Amphitheater, Lake Murray recreation area, and Mission Trails Park, including Cowles Mountain.
Nearby is Sun Valley Fairways Golf Course, SDSU, shopping, restaurant, theaters and the San Diego Trolley. La Mesa borders the Lemon Grove/Spring Valley to the South, Santee to the North, El Cajon to the East and San Diego to the West. Only a 15-minute drive to Downtown San Diego and the beaches, La Mesa is a short drive to all major employment centers. La Mesa’s near perfect climate, its 14 public parks, a variety of housing, and multiple commercial and retail areas, make it a highly desirable community in which to live work and conduct business.
