This sale includes 2 parcels, located right in the heart of La Mesa Village. On each parcel sits 8 charming, craftsman style units for a total of 16 units. A great mix of 8 two bedroom / one baths, 4 one bedroom / one baths and 4 studios, as well as 14 garages (rented out separately) and leased laundry. Several units at market rate of $1995 for 2br, $1695 for 1br, $1595 for studios, but many below with room for increased revenue. This property presents a very unique opportunity for future development. Parcel 494-251-16-00 zoned CD-D, intended to accommodate development that permits high density and mixed use. Parcel 494-251-15-00 zoned R3. These parcels were originally one, but were split into two in 1966 and County Recorder states they can be combined again into one parcel per a combination request through SDARCC. La Mesa is building up! Located steps to the La Mesa Village which boasts shopping, dining, entertainment and transportation. More than a town, a lifestyle, with gyms, Pilates and yoga studios, Farmers' Market every Friday, trending restaurants and coffee shops. Just strolling distance away is the fully reimagined Collier Park which features brand new pickleball and tennis courts, playground, green spaces and covered areas for community gatherings, picnics and more! La Mesa Village is also home to the La Mesa Oktoberfest, Holiday in the Village, Taste of La Mesa Village and the La Mesa Classic Car Show! A chance to own an established complex, with long term tenants and strong rent rates. Or, the potential opportunity to create something new and expansive in a growing San Diego hotspot. All roofs replaced 2023/2024. Whole property painted 2023. Interior photos are of most recent vacancies. Many long term tenants, as long as 25 years. Existing electrical utilizes fuses. Recent upgrades have been made, but more may be desired. Raised walkways have not been certified in compliance with the upcoming AB-2579 2026 deadline. Property to be sold on an “as-is, where-is” basis. All information provided is deemed reliable, but not guaranteed. Buyer and Buyer's agent to verify all information, including but not limited to zoning and development potential, prior to COE.
For sale
Listing Provided by:
Jacqueline Cono-Clippinger DRE #01336241 jc@realnetpm.com,
Real Net Inc.
$4,650,000
4818 4832 1/2 Palm Ave, La Mesa, CA 91942
3beds
4baths
9,408sqft
Est.:
Multi Family
Built in 1946
-- sqft lot
$-- Zestimate®
$494/sqft
$-- HOA
What's special
Craftsman style units
- 65 days
- on Zillow |
- 282 |
- 5 |
Zillow last checked: 7 hours ago
Listing updated: June 06, 2025 at 05:27pm
Listing Provided by:
Jacqueline Cono-Clippinger DRE #01336241 jc@realnetpm.com,
Real Net Inc.
Source: CRMLS,MLS#: PTP2504161
Originating MLS: California Regional MLS (North San Diego County & Pacific Southwest AORs)

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 4
Heating
- Natural Gas, Wall Furnace
Cooling
- Wall/Window Unit(s)
Appliances
- Included: Free-Standing Range, Freezer, Gas Cooking, Gas Oven, Gas Range, Gas Water Heater, Refrigerator, Water Heater
- Laundry: Common Area
Features
- Windows: Double Pane Windows
- Has fireplace: No
- Common walls with other units/homes: 2+ Common Walls
Interior area
- Total structure area: 9,408
- Total interior livable area: 9,408 sqft
Video & virtual tour
Property
Parking
- Total spaces: 26
- Parking features: Concrete, Door-Single, Garage, On Site, Private, One Space, Unassigned
- Garage spaces: 14
- Uncovered spaces: 12
Features
- Entry location: 1
- Pool features: None
- Park: Palm Villa
Lot
- Size: 0.37 Acres
- Features: 0-1 Unit/Acre, Sprinklers In Front, Level, Near Park, Near Public Transit, Sprinkler System, Value In Land, Walkstreet
Details
- Additional parcels included: 4942511500
- Parcel number: 4942511600
- Zoning: Parcel 494-251-16-00 zone
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Craftsman
- Property subtype: Multi Family
- Attached to another structure: Yes
Materials
- Frame, Plaster, Wood Siding
- Roof: Composition,Shingle
Condition
- New construction: No
- Year built: 1946
Utilities & green energy
- Sewer: Public Sewer
- Utilities for property: Overhead Utilities
Community & HOA
Community
- Features: Curbs, Street Lights, Sidewalks, Urban, Park
Location
- Region: La Mesa
Financial & listing details
- Price per square foot: $494/sqft
- Date on market: 6/5/2025
- Listing terms: Cash,Conventional
- Total actual rent: 25903
- Tenant pays: Telephone
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